Longspur Research from the UK has released an updated research note with a Central Case valuation of $0.11 per share, split between Hydrogen $0.07 and CO² $0.04 per share. Today’s update introduces the CO² opportunity and highlights a second commercial opportunity for Provaris and a valuation scenario based on the JDA with Yinson and their development of the full CCS supply chain for Norway now based on the Provaris tank

“We think the adding of a CO² tank to the Provaris offering has not been fully appreciated by the market. With countries such as Norway moving ahead with the development of carbon sequestration, the need for solutions such as that provided by Provaris become immediate. With committed partner funding development, we see the CO² opportunity as providing near term monetisation for the Provaris IP and complementing the large-scale hydrogen tank opportunity. Our revised central case valuation of A$0.11 includes A$0.04 for the initial CO² projects illustrating the value of this to the company as a whole.”

Click here to read the report