Australian energy company Provaris has signed a memorandum of understanding (MoU) with Japanese shipping company Kawasaki Kisen Kaisha (K Line) to progress toward commercializing its compressed hydrogen shipping and offshore storage solutions.
Under the one-year agreement, Provaris will cooperate with K Line on studies and examinations related to the development, construction, and operation of its proprietary H2Neo Carriers and H2Leo Barges and evaluate the potential for further partnership or commercial structures.
Provaris’ H2Neo Carrier is a purpose-built compressed hydrogen ship designed for regional marine transport, with a hydrogen carrying capacity of up to 27,000 cubic meters (cbm), which has advanced to a FEED Design Class Approval. The H2Leo Barge is optimized for nearshore and port operations and compressed hydrogen storage.
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As part of the MoU, K Line will provide technical, commercial, and operational assistance to help Provaris further develop operational cost models, the newbuild program, and the definition of charter terms.
In addition, Provaris anticipates the collaboration with K Line to support its broader export initiatives, including the development of supply chain projects in Norway , and align with its MoUs signed with German utilities for hydrogen delivery .
Provaris Managing Director and CEO, Martin Carolan , said: ”This MOU represents a key milestone for Provaris in the development of our regional shipping solution and development of an energy efficient and costeffective way to address Europe’s significant import requirement for hydrogen by 2030. We look forward to “K”LINE’s support of Provaris’ development of export project supply chains in the Nordics.”
In other recent news, Provaris completed liquid CO2 (LCO2) tank design with Yinson Production, an owner and operator of floating, production, storage, and offloading (FPSO) vessels, and formed a joint venture (JV) to commercialize LCO2 marine and offshore applications.