Highlights:
- Expanding Collaboration:Â Building on their existing partnership, Norwegian Hydrogen and Provaris Energy are set to accelerate the development of new hydrogen export facilities throughout the Nordic region.
- Leveraging Past Successes:Â Drawing on the successful pre-development activities from the FjordH2 project completed in 2023, the companies are assessing potential sites across multiple Nordic countries to develop a broad portfolio of hydrogen projects.
- Commitment to Efficiency and Sustainability: The collaboration is focused on creating energy and capital-efficient projects that will supply green hydrogen to European industrial users, aiding in Europe’s extensive decarbonization goals.
Provaris Energy Ltd (ASX: PV1; Provaris) and Norwegian Hydrogen AS are delighted to announce a renewed Collaboration Agreement to jointly identify and develop several sites in the Nordic region for large-scale hydrogen production and export to European markets.
The planned projects will utilize local renewable energy resources to produce hydrogen for transportation to European ports, supporting energy-intensive industries in their decarbonization initiatives. This effort aligns with various European Union funding schemes and aims to achieve a scale and level of innovation that enhances the integration of sustainable practices.
These new projects will be strategically positioned in areas with robust grid connections and power supplies to facilitate the construction of state-of-the-art electrolyzers and hydrogen compression facilities linked to export jetties. Provaris’ H2Neo carriers will handle the hydrogen transport, while the H2Leo barge will be used for storage. The initiatives will also promote circular economies by using by-products such as clean oxygen and waste heat in local industries and district heating systems.
Jens Berge, CEO of Norwegian Hydrogen, stated: “As we develop a comprehensive network of production sites and distribution infrastructure across the entire Nordic region to reduce emissions, we have identified several sites with significant export potential. While these locations could also be used to produce derivatives such as e-methanol or green ammonia, we believe that if the end demand is for gaseous hydrogen, it is best to transport it directly in gaseous form. Provaris’ technology enables us to transport hydrogen in gaseous form from production sites in the Nordics directly to customers in continental Europe.”
Martin Carolan, Managing Director and CEO of Provaris, added: “Our renewed collaboration with Norwegian Hydrogen for greenfield sites in the Nordics builds upon the success of our previous work together. This partnership will accelerate the development of sites that leverage Provaris’ downstream activities for supplying green hydrogen to German utilities seeking regional volumes of green hydrogen. Additionally, our recent joint development of a compressed hydrogen import terminal with Global Energy Storage (GES) at the Port of Rotterdam will provide market access to industrial offtake markets within the port and broader Europe.”
In 2024, the partnership plans to select sites for further pre-feasibility studies focusing on hydrogen production and export logistics, including safety, environmental, and regulatory aspects. Provaris is also advancing its H2Neo carrier, with ongoing prototype testing in Norway aimed at securing final construction approvals by mid-2024.
Under the Agreement:
- Both parties will identify sites in the Nordic region for potential joint development of hydrogen production projects for export to Europe, utilizing Provaris’s proprietary technology for the storage and marine transportation of hydrogen in compressed form.
- The parties will jointly undertake feasibility studies at their own cost, and unless otherwise agreed upon in writing, will each contribute 50% to agreed third-party costs incurred.
- Each joint development project will be subject to a project-specific definitive development agreement to be agreed upon and executed.
- The term of the agreement is 24 months.
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