• World-leading Classification Society DNV engaged to issue a Front-End Engineering Design Statement (FEED Statement) for Provaris’ proprietary H2Neo carrier design and approval of its proprietary Prototype Tank.
• Provaris to commence the construction and testing of a Prototype Tank in Q1 CY2024.
• Successful completion of Prototype Tank testing secures all necessary design and technology development approvals to commit to shipbuilding projects for Provaris’ H2Neo compressed hydrogen carriers.
• New revenue opportunity for the production and sale of small-scale tanks is now under development for late CY2024.

Provaris Energy is pleased to advise the engagement of leading classification society DNV to apply its expertise towards the review and approval of Provaris’ H2Neo carrier’s proprietary hydrogen cargo containment system.

DNV will leverage their long-term experience with maritime storage and deep understanding of the transportation of numerous gases in compressed and liquid forms with resources from its Gas Carrier Excellence Centre throughout the construction and testing process. DNV also have intimate knowledge of, and experience with, Prodtex’s manufacturing processes and capabilities for complex steel structures, allowing for an effective collaborative effort to successfully execute on the multilayered welded steel plates required in the Prototype Tank construction and testing program. Construction remains on track to commence in Q1 CY2024 with completion expected by the end of Q2 CY2024.

Provaris will work together with DNV to qualify the H2Neo design and hydrogen containment tanks. Additional parties involved in the work program located in Norway include Prodtex AS for construction and SINTEF, who will be responsible to perform the prototype testing and reporting.

Provaris’ Chief Technical Executive Officer, Per Roed commented: “The Prototype testing program is an exciting phase of our technical and H2Neo approvals program. We continue to see an increasing demand for safe and cost-effective solutions to store and transport gaseous compressed hydrogen, and to be able to validate our proprietary solution through Prototype testing can be a game changer to unlocking a significant market opportunity. Our focus has been to establish a strong team of contributors and partners on this journey, and the engagement of DNV will further strengthen the N2Neo Class approval.”

DNV’s Global Business Director Gas Carriers, Martin Cartwright added: “Transporting hydrogen securely and efficiently is going to be one of the linchpins of the energy transition. To make sure that this market can really take off, we need to draw on the lessons we have learned from other fuels and build from a sound technical foundation. This is why we are very pleased to be working with Provaris, bringing DNV’s experience, expertise, and cooperative spirit to help them deliver this innovative concept.”

The H2Neo carrier received FEED design approval in December 2022, with final approval for construction subject to the completion of a prototype of the proprietary containment tank design being constructed and tested to the satisfaction of Class requirements.