Provaris Energy (ASX:PV1) entered into a non-binding collaboration memorandum of understanding for the use of its compressed storage and shipping platforms to transport hydrogen from Norway to Germany, according to a Wednesday Australian bourse filing.
The company signed the memorandum with a Norwegian joint venture hydrogen project development company and a major German multinational energy company.
The collaboration is targeting hydrogen production and long-term offtake volumes of up to 30,000 tonnes per annum, the filing said.
In the same filing, the company said a key milestone was achieved under an agreed program with Yinson Production, leading to an expansion of the technical development program.
The company is targeting to sign a term sheet by June.
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