Some positive news coming out this week regarding our partners...

Some positive news coming out this week regarding our partners Norwegian Hydrogen.They had their first deliveries of commercial hydrogen from their Hellesylt plant to customers (asphalt company) in Norway. This is an important first step to seeing their hydrogen production scaled up into the projects that Provaris is exploring with them. Great to see customer buy in to their supplies also.

The Government of Norway also announced funding of NOK 600 million towards 9 Hydrogen powered ships, 8 of these which will be supplied Hydrogen from 'Norwegian Hydrogen'. It appears there will be another round of funding in the future as well in which Provaris will be interested in applying for as they progress. Provaris have also mentioned a strong interest in providing bunkering fuel storage for the hydrogen shipping sector. Norway will need to have infrastructure in place if they are to continue their plans in transitioning the shipping sector to green hydrogen, which clearly by their funding initiatives they plan to do.

While the prototype tank delays are frustrating it should not impact on other areas of progress for the company. Either companies want the hydrogen shipped through compression or they don't. Deals can be signed at any point but Provaris still require the projects in the mean time to be built and producing hydrogen before any ship is built. Hopefully some positive news to come over the next few months.