Provaris Energy and Yinson partnership hits straps with payment for IP, tech services [Video]

Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) has marked a milestone in its collaboration with Yinson Production Offshore Pte Ltd, under a joint development agreement (JDA) unveiled on October 1.

Yinson has made a payment of US$200,000 as part of the technical service fees for Provaris’ provision of intellectual property, technical data and services relating to the CO2 Tank project.

Developing innovative solutions

The JDA outlines a project scope focused on developing innovative solutions for large-scale storage and transport of liquid CO2, leveraging Provaris’ proprietary tank design for compressed hydrogen.

The concept design activities, which started in October, will continue into the first quarter of 2025, with a project update anticipated in partnership with Yinson.

The initiative also explores the potential application of the design for other gases, including ammonia, addressing a critical gap in CO2 transportation.

Currently, no ship transport solutions exist for CO2 at low pressure and temperature ranges that support long-distance voyages and high cargo volumes.

Provaris …