Just the Facts: Provaris targets scalable carbon capture with joint development initiative

Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Provaris Energy Ltd (ASX:PV1, OTC:GBBLF).

The company has passed a milestone in its joint development agreement with Yinson Production Offshore, receiving US$200,000 for technical services and intellectual property related to its CO2 Tank project. The collaboration, which began in October 2024, focuses on developing innovative solutions for large-scale liquid CO2 storage and transport.

Provaris is adapting its proprietary tank technology, initially created for compressed hydrogen, for CO2 and potentially other gases like ammonia. This design aims to address the current lack of ship transport solutions for CO2 that accommodate long-distance voyages under low pressure and temperature conditions with high cargo volumes.

The CO2 Tank project is positioned to enable scalable carbon capture and storage technologies, critical for achieving global emission reduction targets. Provaris is receiving advisory support from Energy Infrastructure Group and Clarksons Norway AS as the initiative progresses.

The project is expected to significantly advance CO2 transport infrastructure and contribute to broader decarbonisation efforts.

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