Provaris Energy is pleased to provide an update on the progress of project development activities for its Tiwi H2 Project , located in Australia, and recent business development activities in Norway.

Tiwi H2, Australia

• The Owners Engineer appointed for the Solar Precinct Early Works program remains on track to finalise the preferred solar farm design, generation capacity, and updated cost estimates for April 2023.
• Finalisation of the Project’s EIS Assessment’s Terms of Reference (ToR) scheduled for April 2023, including requirements of the EPBC Referral from the Australian Federal Government.
• Environmental Impact Statement (EIS) progressing well with submission planned for early Q4 2023.
• Submission of draft land agreements for Tiwi Land Council and Munupi Clan review remains on track this quarter and the land access agreement for the Solar Monitoring equipment is now planned for mid-2023.

Norway & Europe

• Pre-feasibility work is underway with Norwegian Hydrogen to fast-track project definition for a preferred site in the Nordic region, with objective to confirm first project that can deliver exports of hydrogen to Europe in 2027.
• Europe has defined a 10Mtpa import market for renewable hydrogen by 2030, part of the RePowerEu Plan announced in 2022, with limited projects of scale sanctioned to meet this demand.
• The Norwegian-German declaration announced in January 2023 they are aligned with the EU’s RePowerEU Plan, with both governments working to realize a full-scale hydrogen value chain between Norway and Germany.
• Norway continues to support the scale up of the industry with material funding support to assist with development and capex funding for coastal hubs and zero emission shipping solutions.

Provaris’ Managing Director and Chief Executive Officer, Martin Carolan commented:

“We are pleased with the progress of our Tiwi H2 Project in Australia and we look forward to achieve important milestones in the upcoming months as we continue to focus on delivering on three key aspects of the project, including environmental approvals, securing land access, and ongoing engagement with the Tiwi Community.

“It is also pleasing to see traction in Europe with increased awareness and interaction from hydrogen developers seeking to understand the benefits of our Compressed Hydrogen Supply Chain. We are particularly thrilled to keep building a strong pipeline in that region with Norway providing a platform for multiple commercialisation opportunities.

“With the assistance of NORWEP and the Australian government, recent discussions with several government and industry stakeholders, including Innovation Norway and ENOVA, have highlighted the advanced development of several coastal maritime hubs to supply green hydrogen and we look forward to progressing these discussions.”.