Provaris Energy has signed a Memorandum of Understanding (MoU) with K Line, on developing and operating Provaris’ compressed hydrogen transport and storage technologies, specifically the H2Neo carrier and H2Leo barge.
As informed, the partnership will support Provaris’ hydrogen export plans, including projects in Norway, and is aligned with previous agreements to supply hydrogen to Germany. Europe is expected to require significant imports of low-carbon hydrogen, and Germany plans to import up to 70% of its hydrogen needs.
Over the next 12 months, both companies will work together to study and evaluate the design, construction, and operation of hydrogen vessels. They will also explore the potential for future collaboration or formal partnerships.
“K” Line will provide technical and operational support to help improve Provaris’ vessel development plans. The shipping company will be assisted by its advisor, Clarksons Norway AS.
This MoU represents a key milestone for Provaris in the development of our regional shipping solution and development of an energy efficient and costeffective way to address Europe’s significant import requirement for hydrogen by 2030
… said Provaris Managing Director and CEO, Martin Carolan.
