Provaris Energy Ltd (ASX.PV1) has inked a Memorandum of Understanding (MOU) with Norwegian Hydrogen AS. The collaboration aims to spearhead the identification and development of green hydrogen value chain projects in the Nordic region.
The strategic collaboration sets the stage for accelerating the development of green hydrogen export supply chains, utilizing Provaris’ GH2 Carriers and storage solutions in tandem with Norwegian Hydrogen’s proposed hydrogen production and export sites across the Nordics, notably in Norway. Provaris’ compressed H2 supply chain offers a flexible, cost-competitive solution supporting giga-watt scale generation capacity transport as gaseous hydrogen.
The Nordic region, known for its abundant low-cost hydro power and supportive governments committed to supplying hydrogen to Europe, holds a strategic advantage in reaching the REPowerEU ambition of 10mtpa hydrogen imports by 2030. This collaboration aligns with Norway’s commitment to long-term hydrogen supply to Europe, as confirmed in a Joint Statement by the German and Norwegian governments.
A joint Design Concept Study, slated for completion in the March quarter of 2023, will identify preferred production and export sites and assess the technical and economic viability of a fast-track green hydrogen supply chain connected to key ports in Germany and the Netherlands.
Martin Carolan, Provaris Managing Director and CEO, expressed enthusiasm about the collaboration, highlighting the benefits of leveraging compressed hydrogen as a marine carrier from the Nordic region. Jens Berge, CEO of Norwegian Hydrogen, echoed the sentiment, emphasizing the opportunity to bring green hydrogen to the EU market efficiently.
Norwegian Hydrogen’s advanced development status, exemplified by projects like the Hellesylt Hydrogen Hub Pilot-E, positions it as a key player in the North European zero-emission hydrogen market. The collaboration with Provaris aims to scale up volumes of compressed hydrogen for export to major import hubs in Europe, aligning with REPowerEU’s ambitious targets.
With the goal of commencing hydrogen exports by 2027, the collaboration plans to complete a Design Concept Study by the end of 1H2023. Sites identified for export are strategically located close to major planned hydrogen import hubs in Germany and the Netherlands, capitalizing on the cost competitiveness of Provaris’ compressed hydrogen solution.
Provaris’ membership in Norwegian Energy Partners (NORWEP) will further support market awareness and the identification of collaboration partners and off-take markets. NORWEP’s local energy advisors in the EU will aid Provaris in landing compressed hydrogen into the EU’s developing hydrogen infrastructure.
This collaboration between Provaris and Norwegian Hydrogen marks a significant step towards establishing a robust green hydrogen supply chain in the Nordics, poised to play a pivotal role in Europe’s transition to clean energy.
