Australia’s Provaris Energy, formerly Global Energy Ventures (GEV), has teamed up with Stena’s Northern Marine Management to support the ongoing engineering and development of its compressed hydrogen carrier project.
A memorandum of understanding between the two companies covers specialist technical and operational services to support Provaris’ 26,000 cu m vessel, dubbed H2Neo, through class and flag approval, shipbuilding contract talks, newbuild supervision, and operations.
The ASX-listed Provaris said it will also review commercial opportunities for a fleet of H2Neo carriers currently under development for Northern Marine to provide ship management services. The deal is for 12 months and sets out an agreed schedule of activities across multiple phases of the remaining development of the H2Neo carrier, which is targeting approval for construction in mid-2023.
“A partnership with a globally recognised ship manager like Northern Marine is an endorsement of our development for a compressed hydrogen carrier and an indication of the commercial potential as a new class of bulk carrier to support the transport of green fuels, in this case green hydrogen,” stated Martin Carolan, managing director and CEO of Provaris.
