Australia's Provaris jumps on low-cost green hydrogen delivery prospects

Provaris Energy

08/05/2023 05:49

** Shares of Australia's Provaris Energy Ltd  PV1.AX  jump
as much as 16.1% to A$0.047, set to mark best day since Jan.12,
if current gains hold 
    ** Stock hits highest since April 12
    ** The compressed hydrogen projects developer says completed
a prefeasibility study in partnership with Norwegian Hydrogen
AS, demonstrating potential for low-cost delivery of Green
Hydrogen from Norway to Europe
    ** Says identified a preferred site in Norway to develop a
production facility that will deliver up to 50,000 tonnes of
green hydrogen to Europe from 2027 
    ** In January 2023, Provaris and Norwegian Hydrogen entered
a collaboration to develop a hydrogen value chain covering
large-scale production and export of hydrogen from the Nordics
to the key ports of Europe  
    ** PV1 has fallen nearly 12% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))