Provaris Energy, an Australian developer of integrated compressed hydrogen projects, has signed a memorandum of understanding with British ship management company Northern Marine Management Limited, a member of the Stena AB group of companies.
Under the MOU, Provaris and Northern Marine will develop a technical partnership to support the ongoing engineering and development program of the company’s first pure hydrogen gas (GH2) carrier, the H2Neo, with Northern Marine. to support the development and marketing of the H2Neo vessel.
Provaris and Northern Marine will also review business opportunities for a fleet of H2Neo carriers currently under development, to which the parties will then agree terms for Northern Marine to provide vessel management services on a contractual basis.
“A partnership with…Northern Marine is an…indication of the commercial potential as a new class of bulk carrier to support the transport of green fuels, in this case green hydrogen,” Martin CarolanManaging Director and CEO of Provaris commented.
“We are very pleased to support Provaris Energy in the development and future operation of their…GH2 Carrier. At Northern Marine, we operate at the forefront of safe and sustainable shipping and welcome the opportunity to deploy our operational capability on…new energy projects, such as the Provaris H2Neo development program,” Philip Fullertonmanaging director of Northern Marine, said.
“It is a privilege to support Provaris Energy with a comprehensive package of engineering, new build supervision and additional consultancy to ensure the successful construction, approval and deployment of a new type of vessel that will contribute to a more sustainable future for all of us”, George Mermirismanaging director and director of Tritec Marine, the engineering consultancy subsidiary of Northern Marine, noted.
The MOU and partnership will cover specialized technical and operational services to support Provaris’ GH2 carrier development program, including detailed engineering, class and flag approvals, shipyard selection and contract new construction, compliance and certification for safety and operations, new construction supervision, financing, insurance, and operational contracts.
“Northern Marine’s support to date on our H2Neo development program has been tremendous, and I look forward to working closely with their technical and operational experts. The opportunity for Provaris to leverage their experience and global expertise in engineering, approvals, new builds and operations will enable the company to have the first H2Neo vessel on the water and operational in 2026, to support the pipeline of hydrogen export projects we are currently developing in Australia and future opportunities currently being explored in Europe,” By Roedadded the technical director of Provaris.
The term of the MOU is 12 months and establishes an agreed schedule of activities across several phases of the remaining development of the H2Neo carrier, which targets construction approval in mid-2023.
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