Provaris Energy Ltd Achieves Key Milestone in Engineering Design Work for GH2 Carrier

Provaris Energy Ltd (ASX: PV1) has advanced engineering design work to 70% for its GH2 carrier Provaris H2Neo and that the work is on track for final delivery in June 2022.

The company’s design team has compiled several work packages to provide an updated assembly specification, general arrangement drawing and other key design and engineering plans.

Subsequently, completed work packages are now shared with shipyards for construction schedule and capital cost estimates, and with class societies as part of construction stage approval scheduled for mid-2023.

“Milestone”

Provaris Managing Director and CEO Martin Carolan said: “The GH2 carrier design team continues to make excellent progress on the final design package for shipyard discussions, an important step in refining our costs and our construction schedule and inform ongoing project studies. progress.

“Management recently visited Europe and the UK to commercialize Provaris’ compressed hydrogen solution, receiving an encouraging response given our 2026 delivery target.

“With demand in Europe for import solutions from 2024-2026, interest in transmission solutions has increased given the focus on energy security and new gas infrastructure requiring approvals for imports of gases needed to demonstrate hydrogen capability.”

Class approvals

Provaris engaged ABS Consulting for the gas dispersion, fire and explosion safety studies necessary to enable class societies to verify the ship’s safety issues surrounding its operation, particularly with respect to hydrogen storage tanks and cargo management.

Discussions with class societies, including the American Bureau of Shipping, are underway on the program required for engineering, risk and safety studies and testing to gain construction approval in 2023.

Provaris Chief Technology Officer Per Roed said: “The engineering and design of H2Neo has now progressed sufficiently to enter into discussions with Class for test design and build approval.

“We are also now incorporating port infrastructure designs for our supply chain discussions with ports in Asia and more recently in Europe.”

Port designs

Provaris is currently making progress in designing concepts for the export and import of hydrogen to locations that include Asia and Europe.

A basic design is expected to be adaptable to multiple locations, with site-specific access and regulatory requirements a key requirement for customization.

Provaris engaged Paaras Marine Solutions, an experienced marine structural engineering company based in Singapore, to develop and evaluate port solutions for loading and unloading compressed hydrogen using Provaris GH2 carriers.

The company will include the results in its scoping and feasibility studies which are ongoing and due to be completed in July 2022.

The shares are trading up 8.96% at $0.073.

About Provaris

Provaris Energy, formerly Global Energy Ventures, is the leading developer of integrated compressed hydrogen projects for export to regional markets.

The company is focused on developing simple and efficient green hydrogen supply chains to enable the global transportation of carbon-free energy.

Provaris has a portfolio of integrated green hydrogen projects, leveraging its innovative GH2 compressed hydrogen carrier with a focus on value creation through innovative development that aligns with our business model of simplicity and efficiency.

Abdul J. Gaspar