Highlights

• MOU with global shipping leader “K” LINE to support Provaris’ commercialisation of hydrogen carriers and first-mover for maritime transport in Europe.
• “K” LINE will offer technical, commercial, and operational assistance using its accumulated knowledge and global shipping expertise to aid Provaris’ development of its hydrogen transport and storage model.
• MOU represents a significant milestone in the maritime industry’s role to address Europe’s significant import demand for hydrogen by 2030 and support ambitious emission reduction goals.

“K” LINE will offer technical, commercial, and operational assistance using its accumulated knowledge and global shipping expertise to aid Provaris in further developing its operational cost models, the newbuild program, and definition of charter terms, also supported by its Commercial Advisor, Clarksons Norway AS.

Provaris Managing Director and CEO, Martin Carolan said: ”This MOU represents a key milestone for Provaris in the development of our regional shipping solution and development of an energy efficient and cost-effective way to address Europe’s significant import requirement for hydrogen by 2030. We look forward to “K” LINE’s support of Provaris’ development of export project supply chains in the Nordics.”