Provaris Energy Ltd (ASX:PV1, OTC:GBBLF, FRA:WS90) managing director and CEO Martin Carolan talked with Proactive about the company’s latest capital raise and how the funding will support key development milestones across its hydrogen and CO₂ programs. Carolan explained that the company recently secured firm commitments to raise $1.325 million through an oversubscribed placement, with funds to be directed toward advancing Provaris Energy Ltd’s 2026 work program.
The financing will support hydrogen prototype tank development, associated Class Approval workstreams and operating costs at the company’s Robotic Innovation Centre in Norway. The funding will also contribute to ongoing work across Provaris Energy Ltd’s liquid CO₂ (LCO₂) tank development program, as well as broader business development and corporate activities. Carolan noted that the LCO₂ tank front-end engineering design (FEED) program and related Class Approval workstreams remain fully funded by partner Yinson under existing arrangements.