Provaris Energy Ltd (ASX.PV1) has executed a Memorandum of Understanding (MOU) with Norwegian Hydrogen AS, a Norwegian-based developer of hydrogen production hubs and value chains across the Nordic region, to collaborate on the development on green hydrogen value chain projects in the Nordics.
The collaboration brings together the skills, experience and ambitions of both companies to accelerate the development of a hydrogen value chain covering large scale production and export of hydrogen to the key ports of Europe.
The MOU provides a framework to jointly undertake a Concept Design Study to:
The scope of the study will include the renewable power supply, production of hydrogen, compression facilities, storage, infrastructure for jetty loading and unloading, Provaris’ H2Neo carrier, and import infrastructure required at identified import locations. Application for suitable funding schemes available through national schemes and the European Union will also be made.
Provaris is delighted to collaborate with Norwegian Hydrogen to accelerate our development ambitions of an integrated export hydrogen project from the Nordic region that will benefit from the simplicity and efficiency of compressed hydrogen as a marine carrier,” Martin Carolan, Provaris Managing Director and CEO, said.
“The Nordic region offers several advantages that can include low-cost hydro power, proximity to offtake markets and supportive governments committed to supplying hydrogen to Europe. This collaboration also has strategic alignment with the development timeline of our H2Neo carrier and validation of the increasing interest for our compressed H2 transport solution for hydrogen supply into Europe.”
Norwegian Hydrogen was founded in 2020 by a group of Norwegian industrial investors targeting opportunities to develop hydrogen production and supply chains to meet the growing demand for zero emission solutions in the Nordics and beyond. The original investors bring complementary expertise to Norwegian Hydrogen, ranging from technology development (including compressed hydrogen), electrical utilities, through to H2 and O2 offtake.
Norwegian Hydrogen are taking a leading role in the North European zero emission hydrogen market by offering green hydrogen to a wide range of mobility and industrial offtakers with an initial focus on production and demand in the Nordics. Norwegian Hydrogen has recently established additional offices in Scandinavia and it has brought in Mitsui & Co., Ltd. as its second largest shareholder.
Through its accessible production and infrastructure opportunities in the Nordics, Norwegian Hydrogen can develop large scale hydrogen and export facilities leveraging low-cost renewable energy sources.
Norwegian Hydrogen advanced development status is evidenced through the company’s Hellesylt Hydrogen Hub Pilot-E project, which will develop and demonstrate a complete green hydrogen supply chain in the Northwestern region of Norway.
The project that will commence production later this year is paving way for the company’s pipeline of significantly larger projects all over the Nordics.