Provaris Energy begins fabrication of H2Neo prototype tank for European hydrogen market.
Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) has initiated the fabrication of its H2Neo prototype tank hydrogen storage solution, taking a step further along the path to a hydrogen supply chain and production in Europe.
The company is on schedule to complete fabrication and testing by mid-2024, which would cement its position as a pioneer in cost-effective hydrogen storage and bulk-scale transportation solutions.
Should testing proceed successfully, the H2Neo design will receive Class Approval certification, a world-first achievement in the bulk-scale hydrogen transportation industry.
The definitive proof of concept will also provide Provaris with a new revenue stream in the form of producing smaller-scale hydrogen tanks in Norway from late 2024, catering to a wide range of applications from maritime bunkering to industrial storage.
Delivering low-cost, efficient solution
Per Roed, Provaris Energy chief technical officer, said:
Another major milestone achieved and super exciting to have now moved from production design to the construction phase of our first hydrogen tank.
“After significant design and testing of materials and welds, and an extended period defining and optimising the robotic production cell, we will now be able to validate our unique design work through fabrication of our first tank and testing.
“We are very confident the tank will perform according to specifications. For the hydrogen industry to scale, there is a need for high-quality carbon steel hydrogen tanks that focus on safety in operation, whilst delivering a low-cost and energy-efficient storage solution.
“Final approvals will radically advance the opportunities available to Provaris for the immediate need for industrial storage and the supply and transport of gaseous hydrogen.”
PV1’s design optimisation work achieved a 30% weight reduction for its full-scale H2Neo containment tank, resulting in a lower build cost, enhanced propulsion efficiency, reduced fuel consumption, and lower emissions.
The reduction in weight also makes the storage tanks more flexible in terms of shipyard integration requirements, making for a smoother installation and assembly process.
Provaris says it is fielding increasing interest about its hydrogen tank solution, having signed a third non-binding memorandum of understanding with a prominent international energy company, highlighting growing interest from European utilities in the company’s compressed hydrogen solutions.
Third memorandum of understanding
This month Provaris entered into a third memorandum of understanding (MoU) with an international energy company that will assess PV1’s complete hydrogen delivery chain, which includes Provaris’ proprietary H2Neo carriers and H2Leo barge solutions designed for regional gaseous hydrogen delivery.
Joint investigations are scheduled for 2024, with any definitive project agreements to be appraised upon completion.
Martin Carolan, Provaris Energy managing director and CEO, said:
We are thrilled to begin fabricating and testing our prototype-scale tank, poised to be the largest high-pressure hydrogen tank made of steel globally.
“This achievement, in Norway, strategically located for the EU’s growing demand for affordable storage and marine transport solutions, is significant.
“Our technical development program and supply chain economics have attracted the attention of major energy providers in Europe and Germany.
“With our third MoU, we’re exploring how compressed hydrogen can contribute to the large import requirement of Northwest European ports.
“Our goal remains to offer the most cost-effective compressed hydrogen supply for regional volumes, aligning with market demand and funding schemes to reduce investment risks.”
Germany in particular is expected to have high demand for green energy sources, as the country’s current hydrogen ambitions place its demand levels at some 90 to 130 terawatt hours (TWh) by 2030, with 45-90 TWh of that demand expected to require imports of hydrogen gas to meet.
READ the latest news shaping the hydrogen market at Hydrogen Central
Provaris Energy begins fabrication of H2Neo prototype tank for European hydrogen market. source
