Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) and strategic partner Norwegian Hydrogen have inked a Memorandum of Understanding (MoU) with Uniper Global Commodities SE to collaborate on an extended regional hydrogen supply chain in Europe.
The three companies are exploring strategies for Uniper to offtake renewable fuel of non-biological origin (RFNBO)-compliant hydrogen under the European Union’s Renewable Energy Directive and REPowerEU plan objectives.
Green hydrogen will be produced by Norwegian Hydrogen and transported on Provaris’ H2 Neo carriers and H2 Leo storage barges.
Energy and capital-efficient hydrogen
“We are thrilled to bring our partnerships with Uniper and Norwegian Hydrogen together,” Provaris Energy managing director and CEO Martin Carolan said.
“This collaboration highlights the business case for compression in becoming a preferred alternative for a cost-competitive solution to supply RFNBO compliant hydrogen, offering both capital and energy efficiency for regional hydrogen supply.”
In April, PV1 and Norwegian Hydrogen extended their partnership to develop new hydrogen export sites across the Nordic region.
Read: Provaris Energy extends Norwegian Hydrogen collaboration to develop new Nordic hydrogen export sites
Feeding German demand
Provaris said the supply of hydrogen was crucial for the energy security and decarbonisation goals of German industrial sectors and energy generators.
Germany alone already accounts for about 55 terawatt hours (TWh) of hydrogen demand and the country's National Hydrogen Strategy is predicted to increase hydrogen demand to 95-130 TWh by 2030.
Developing a diverse portfolio of supply options for integration into national hydrogen infrastructure is vital for maintaining the competitiveness of the German economy and meeting its decarbonisation targets.
Uniper is a major German multinational energy company based in Düsseldorf, Germany, which has been a state-owned enterprise since late 2022.
“We remain highly committed to the collaboration we’ve had with Provaris since 2022, and I cannot think of a better offtake partner than Uniper to support the development of our joint projects,” Norwegian Hydrogen CEO Jens Berge said.
“This new agreement is positive for all the three parties involved, and I am confident that it will bring strong and tangible results.”
The MoU is non-exclusive and non-binding with a term of 12 months.