Dear Fellow Shareholders,Like many of you, I've been following...

Dear Fellow Shareholders,

Like many of you, I've been following Provaris' progress with keen interest, and I understand that there may be some shared feelings of anticipation and frustration as we await the widespread adoption of hydrogen as a mainstream fuel source.
I wanted to share my perspective as a fellow investor and offer some insights into recent developments that reinforce my confidence in Provaris.

Investing in emerging technologies like hydrogen requires patience and a long-term vision. The energy transition is a complex undertaking, and while the pace of change can sometimes feel slow, I believe Provaris is making significant strides in the right direction.

Several recent developments have caught my attention:

• Yinson's Strategic Move into Carbon Capture: Yinson Production's recent acquisition of Stella Maris CCS is a significant development. Their commitment to carbon capture and storage (CCS), evidenced by this acquisition and a substantial EU Innovation Fund grant, signals strong confidence in the low-carbon market. This move also strengthens the partnership between Yinson and Provaris and highlights the crucial role of CCS in the broader transition to cleaner energy solutions, which is intrinsically linked to hydrogen development.
• Joint Development Agreement with Yinson: The ongoing Joint Development Agreement between Provaris and Yinson to co-develop innovative CO2 tank designs for efficient transport and storage remains very promising. This collaboration addresses the growing need for efficient CO2 management and cleverly leverages potential synergies with Provaris' existing hydrogen tank technology. From my perspective, this is a smart and strategic move that positions Provaris advantageously in two interconnected and growing sectors.
• Positive Market Outlook: Industry experts like Clarksons Norway AS are forecasting substantial growth in demand for CO2 storage and transport. This, coupled with the potential for Technology License Fee revenue from Provaris' CO2 tank design, points towards a compelling long-term value proposition for the company.
• YouTube Interview Highlights - Early Cash Flow Revenue Model: In a recent interview, Provaris Energy discussed their adoption of an early cash flow revenue model. Key takeaways include:
  • Focus on Near-Term Revenue: Provaris is strategically focusing on revenue generation in the near term, alongside their long-term hydrogen initiatives.
  • Leveraging CO2 Technology: The company aims to capitalize on their expertise in compressed gas technology by applying it to the Carbon Capture and Storage (CCS) market.
  • CO2 Storage and Transport Solutions: Provaris is developing solutions for CO2 storage and transportation, presenting a significant market opportunity.
  • Technology Licensing and Royalties: This early revenue model will be driven by technology licensing and royalty income from their CO2 solutions.
  • Complementary to Hydrogen Strategy: This strategy is not a pivot, but rather a complementary approach that leverages existing technology and expertise to generate revenue while continuing to advance their hydrogen projects.

As fellow investors, we all want to see Provaris succeed. While the hydrogen market is still developing, I believe the company's strategic partnerships, technological advancements, and the increasing momentum in the clean energy sector are all encouraging signs for the future. I appreciate Provaris' ongoing efforts and am optimistic about their continued progress.