Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) has struck up a partnership with leading international energy company Uniper Global Commodities SE, signing a non-binding Memorandum of Understanding (MoU) to investigate the supply of green hydrogen to Germany.
Energy security
The partnership will explore the technical, operational and economic feasibility of the compressed hydrogen supply chain and will assess the use of Provaris' H2Neo compressed hydrogen carriers to deliver supply.
Uniper's strategy for the transition to green fuels includes an $8 billion capital investment program.
The company has 200 TWh hours of gas business that needs to be 80% green by 2030 across its core markets of Germany, the UK, Sweden and the Netherlands.
In terms of hydrogen, this is equivalent to 4 to 5 million tonnes per annum of volume, of which up to 80% will come via imports.
The companies anticipate that the MoU, set for a duration of 12 months, will be used in the development of national hydrogen infrastructure in Germany.
Such infrastructure is crucial not only for the competitiveness of the German economy, propelling it towards energy security, but also for achieving ambitious decarbonisation targets, particularly in the industrial and energy sectors.
Provaris managing director and CEO Martin Carolan said: “Our focus on the development of regional supply chains provides a practical and relevant delivery model, providing flexibility to a portfolio of hydrogen import alternatives required for Germany.
Regional supply chain
“Provaris continues to gain the attention of industrial users in Germany due to an increased understanding of the benefits of compression that include a focus on capital and energy efficiency.”
Uniper, with its considerable presence in Europe, operating some 22.5 gigawatts of generation capacity, is actively exploring a range of alternatives and opportunities in the hydrogen value chain.
This includes production, trading, transportation, storage, and distribution.
The collaboration with Provaris is a significant element of Uniper's comprehensive strategy to evaluate diverse hydrogen solutions.
Through this partnership, Provaris and Uniper are poised to make a considerable contribution to the future of green hydrogen supply in Europe and contribute towards the broader transition towards a more sustainable and secure energy landscape.