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Provaris Energy Ltd (ASX:PV1)

ALERT: Price-sensitive ASX Announcement for PV1
Current share price for PV1 : $0.007 -0.002 (-22.22%)+
Announcement
Release
25 May 2026 8:30AM
Price at Release
$0.009
Full Release
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Summary
Provaris Energy Ltd, in collaboration with Yinson Production, has achieved a significant milestone with the concept selection of their Type C Equivalent LCO2 tank design, expanding its applications beyond Yinson's Floating Storage and Injection Unit (FSIU) to include evaluation for LCO2 carriers and floating terminal solutions in the CCS supply chains. This advancement under the Joint Development Agreement (JDA) with Yinson highlights the technical and commercial viability of the tank design, which offers scalable containment solutions for large CCS developments, potentially improving transport and storage efficiency while reducing costs. The ongoing development includes Stage 2 FEED activities expected to be completed by mid-2026, and GASA maritime classification approval is being pursued to validate the new tank design.
Key Points
  • Provaris' LCO2 tank selected for Yinson's FSIU development program.
  • Concept selection expands application to LCO2 carriers and floating terminals.
  • Milestone broadens commercial applications in CCS supply chains.
  • Stage 2 FEED activities for 25,000 cbm capacity LCO2 tank to continue until mid-2026.
  • Joint development with Yinson under a Joint Development Agreement.
  • GASA maritime classification approval sought for tank design validation.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.