Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) has appointed Frankfurt-based DGWA (Deutsche Gesellschaft für Wertpapieranalyse GmbH), the German Institute for Asset and Equity Allocation and Valuation, to act as investor relations advisor in Europe.
The move is aimed at increasing the company’s corporate profile in Europe and its trading liquidity and supporting the strategy of broadening the broadening investor base to engage with European investors and stakeholders.
It also complements the company’s commercialisation and hydrogen project development in Norway.
DGWA will work to develop and maximise the value of the pre-existing dual listing of the company’s shares on Frankfurt, Tradegate and other German exchanges.
Key target market
Provaris CEO and managing director Martin Carolan said: “We are delighted with the appointment of DGWA given their expertise in the German financial market and a point of contact for existing and future investors in Europe.
"This appointment is part of our communications strategy to increase the awareness of Provaris given Germany is the key target offtake market for proposed export volumes of hydrogen from Norway.
"The release of Germany’s updated National Hydrogen Strategy has highlighted several policy and funding initiatives to be developed in 2023 will ensure the alignment of upstream supply projects corresponds with the development of the German industrial sectors implementing strategies to meet decarbonisation ambitions by 2030.”
Engaging in Europe
DGWA’s appointment will assist Provaris engage with retail, institutional and family office investors in the German-speaking DACH region (Germany, Austria and Switzerland) with a population of close to 100 million, as well as the rest of Europe and UK.
It will further assist Provaris increase European investor and stakeholder awareness of the company’s activities in Norway and the Nordic regions, where the company is now executing multiple commercial and project development activities.
“First mover advantage”
DGWA CEO Stefan Müller said: “This is an ideal time for Provaris to increase its engagement with European investors and stakeholders after announcing their collaboration agreements in Norway.
"Germany has recently declared a €3.6 billion investment to boost worldwide collaboration in green hydrogen and signed cooperation agreements with Australia and Norway.
"In addition, ports in Europe such as Hamburg are investing significant amounts to enable the receiving of compressed hydrogen.
"Investors and stakeholders in Europe are following this sector closely and Provaris with its first mover advantage in green hydrogen shipping IP and development expertise and increasing commercialisation and development activities in Norway should be of strong interest to the European investor market.”