Australia's Provaris Energy rises on fund raising for Europe-based business

Provaris Energy

04/07/2025 06:12

** Shares of Provaris Energy PV1.AX rise 6.3% to A$0.017, their highest since June 27

** Hydrogen producer raises A$1.1 million ($722,700) at A$0.013 per share via private placement, a discount of 18.8% on stock's last close

** Says proceeds to be used for its hydrogen, CO2 storage, and marine transportation business development activities in Europe

** Stock surges 14.3% on a weekly basis, set to log its best since week ended June 20

** Stock down 5.9% YTD, as of last close

($1 = 1.5221 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))