My 2c on this. The market is already aware of the floating storage solution, as it has been released and shown in ASX releases and investor presentations previously so how the SP reacts today remains to be seen. What I did like however was the statement that the H2Leo was developed with industry consultation to provide a solution to one of the two main demands from the industry, to provide 'static hydrogen storage vessels for large scale storage'. Furthermore, Provaris are aiming to have the H2Leo in operation in 2025 that is a lot sooner than their shipping supply chain. Considering approval for construction is not expected until late this 2023, and the construction time is around the same time as their H2Neo ships, FID would have to be reached in the near term.
PV1 Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
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