Australia's Provaris Energy rises on hydrogen supply MoU progress

Provaris Energy

05/09/2024 03:21

** Shares of Provaris Energy  PV1.AX  rise as much as 13% to
A$0.026, their highest since July 30 
    ** Integrated green hydrogen project developer says it is
advancing MoU with Norwegian Hydrogen AS and German electric
power generator Uniper Global Commodities SE for hydrogen supply
and offtake
    ** Says co and Norwegian Hydrogen are collaborating to
develop sites suitable for supply of more than 40,000 tonnes per
year of gaseous hydrogen in the Nordics
    ** Says targeting 10-year contract tenure with Uniper to
support long-term charter for its proprietary H2Neo carriers and
H2Leo barge
    ** Stock had fallen nearly 55% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))