Australian energy company Provaris and Yinson Production, an owner and operator of floating, production, storage, and offloading (FPSO) vessels, have completed liquid CO2 (LCO2) tank design and formed a joint venture (JV) to commercialize LCO2 marine and offshore applications.

Provaris and Yinson are collaborating on the development of a large-scale LCO2 tank design under the agreement signed in October 2024. They have now completed Phase 2 in the design stage and submitted the result to a marine classification society for preliminary approval.