Provaris Energy Ltd · ASX:PV1
Provaris Energy — Non-Deal Roadshow (September 2023)
28 slides from Provaris Energy's roadshow presentation, Sep 11, 2023
Slide 1: Efficiency first | Compressed Hydrogen
Efficiency first | Compressed Hydrogen London Road Show Australia 11-13 September 2023 w w w. pro va ris.energy Norway A SX: PV 1
Slide 2: Important Notice and Disclaimer
This presentation and these materials (together the “Presentation”) have been prepared by Provaris This Presentation, including opinions set out in it, is based on information compiled or prepared by Energy Ltd ACN 109 213 470 (ASX:PV1) (“Provaris”) as a summary of Provaris’ operations and Provaris
Slide 3: Regional supply projects under development Aligns with Efficiency First
> Collaborations with local partners for integrated hydrogen supply projects for delivery in 2027-28 Regional supply projects Focus on supply from Norway provides strategic advantage with proximity to EU market, stable under development > renewable power, satisfies Additionality Rules (EU Delegated
Slide 4: Established in 2017 (as Global Energy Ventures)
> Established in 2017 (as Global Energy Ventures) to focus on compressed natural gas solutions Pre-feasibility to investigate H2 export > Pivot to hydrogen in 20020/2021 with the award of AIP on two proprietary compressed hydrogen capacity carriers (H2Neo & H2Max) 2,000 nautical Pre-FEED underway 27
Slide 5: Provaris solution now viewed as a dynamic element in the supply chain
Afjord Project: PFS underway > Norway offers a stable green grid for the supply of renewable power to generate economic hydrogen volumes for export FjordH2 Project: 270 MW, 40ktpa > Power availability and pricing varies by regional location > Norway understand compression has a key role for the supp
Slide 6: Open access large-scale hydrogen networks in the Netherlands and Germany
> Open access large-scale hydrogen networks in the Netherlands and Germany Project HyPerLink project will result in a large-scale hydrogen > Establishing direct connections to large industrial consumers (steel network (up to 7.2 GW) with a total length of ~610 km works, chemical, refineries, mobilit
Slide 7: Note: 1 million tonnes about 33 terawatt hours (TWh)
Note: 1 million tonnes about 33 terawatt hours (TWh) 7
Slide 8: Unique business model to capture multiple revenue streams
Unique business model to capture multiple revenue streams and drive equity value through project development Production of Hydrogen Shipping and Leveraging unique Hydrogen Storage IP > Developer full value-chain for export of > Infrastructure for terminals, storage and > Proprietary development of b
Slide 9: Minimise (re)conversion losses and capex required for alternative carriers
Factors that impact on LCOH of supply chain Minimise (re)conversion losses and capex required for alternative carriers Compression Liquefaction Ammonia (LH2) (NH3) Does not require base-load renewable energy supply to be efficient ‘Load Follow’ 100% 0% 40-100% Variable Profile Compression can 100% l
Slide 10: Realistic hydrogen supply chain analysis needs to account for the full value chain
Realistic hydrogen supply chain analysis needs to account for the full value chain: RE curtailment, Vector capital & losses, Shipping, and Conversion back to gaseous hydrogen (2023 Hydrogen Transport Comparison Report, Energy) Solar/Wind RE to Deliver 100,000 tpa as Hydrogen 10Mt Market Opportunity
Slide 11: Cost advantage and efficiency of Compressed H2 over regional distances
supports the cost advantage and efficiency of Compressed H2 over regional distances Case Study: 1Mtpa continuous delivery over a 2,500km shipping “In the case of compressed hydrogen delivered by ship, it can be seen that the final cost is dominated by the transport costs. Due to its lower density, t
Slide 12: Innovative tank design, final class approvals and collaboration projects
Innovative tank design, final class approvals and collaboration projects to unlock pathway to commercialisation
Slide 13: Provaris Norway AS established as holding company for future operating assets
Provaris Norway AS (100% subsidiary of Provaris Energy) established as the holding company for future operating assets Multiple pathways for commercialisation Equity ownership and flexibility to finance at project or asset Final Class Approvals Collaboration Projects Storage Tank Production Equity o
Slide 14: Collaboration with Norwegian Hydrogen AS, Ørskog
Collaboration with Norwegian Hydrogen AS, located at Ørskog in Ålesund municipality > Pre-feasibility completed March 2023 for 270 MW production capacity with export volume 40,000 tpa > Competitive delivered cost based on 2022 volatile electricity price range of EUR 35-45 MWh > ~760 Nm sailing dista
Slide 15: Collaboration with Gen2 Energy AS, Trøndelag region
Collaboration with Gen2 Energy AS, located Trøndelag region Åfjord project in Trøndelag region, Norway > Collaboration Agreement signed June 2023 > Collaboration will benefit from the synergies of Provaris and Gen2 Energy’s approach to using compression as an energy efficient carrier for green hydro
Slide 16: Low emission shipping through green fuels for power generation
Low emission shipping through green fuels for power generation, including Fuel Cell and Hybrid integration Marine Classification Ship Broker & Technical Partner Commercial Advisor > Standard MR tanker with two integrated tanks to store hydrogen Two Carriers under development at 250 bar pressure. US
Slide 17: Launch of bulk-scale H2Leo
Launch of bulk-scale “H2Leo” provides the hydrogen industry with an energy efficient and cost-effective storage solution > ‘Approval in Principle’ received from ABS, April 2023 Marine Classification > Approved design capacity range of 300 to 600 tonnes of hydrogen, expandable to up to 2,000 tonnes >
Slide 18: Use of robotics to crack the code on efficient storage and shipping
Use of ‘robotics’ to ‘crack the code’ on efficient and cost-effective storage and shipping > Prodtex AS to construct and test a prototype scaled tank, alongside SINTEF, DNV and ABS for fatigue testing testing > Completion of testing and Final Class Approval target for Q1 2024 > Demonstrate automated
Slide 19: Fully robotic tank production cell offers cost advantages over composite solutions
Fully robotic tank production cell offers significant cost advantages over existing composite solutions in the market. Updates in the December 2023 quarter on the development of tank design and can range from 1 to 10 tonnes for use in buffer or small-scale storage applications such as marine bunkeri
Slide 20: Event timeline 3Q 2023 to Q2 2024
Event 3Q 2023 4Q 2023 Q1 2024 Q2 2024 Design of Prototype Tank and Agreement with Class on Testing Protocols Digital Twin Pilot Tank & Sample material testing with Sintef in H2 chamber Construct Prototype Tank Prototype Testing Design H2Neo Full-scale Tank Digital Twin H2Neo Tank Final Class Approva
Slide 21: H2Neo program to undertake prototype test in Q1 2024
H2Neo program to undertake prototype test in Q1 2024 to achieve final class approval from DNV and ABS Prototype Tank & Class Approvals Dec, 2022 Aug, 2023 Sept, 2023 Mar, 2024 Jun, 2024 Dec, 2024 FEED Design Steel and Stainless- Design of scaled Prototype testing of tank LOI with shipyard for Shipya
Slide 22: Australian title page
Australian title page… the only gaseous green hydrogen export project for Australia
Slide 23: Strategic decision to develop both upstream hydrogen molecules and compressed supply chain
Strategic decision to develop both upstream hydrogen molecules and integrate with compressed hydrogen supply chain Strategic Location to Markets 2.6 GW Solar Generation Existing Port Infrastructure 2028 Solar Intensity & Water Access Target for first export Traditional Land Ownership ~90,000 tpa Low
Slide 24: Project Development Workstreams
> Concept Design Study (August 2022) confirmed feasibility for compressed hydrogen production for 100,000 tpa export project > Permitting advancing with Federal and Territory EIS submission scheduled for Q4 2024 > Design Feasibility complete for Solar Farm and transmission pre- FEED and Owners Engin
Slide 25: Contacts
Contacts Martin Carolan Per Roed Managing Director & CEO Chief Technical Officer mcarolan@provaris.energy proed@provaris.energy www.provaris.energy ASX.PV1 @ProvarisEnergy Provaris Energy Ltd. Sydney, Perth, Oslo info@provaris.energy
Slide 26: Capital Structure
Capital Structure Regional Office Locations Servicing Europe & Asia (Sydney, Perth, Oslo) Ordinary Shares on Issue (PV1.ASX) 548 Million Market Capitalisation (at 6.5 c) A$ 35 Million Cash (at 30 June 2023) A$ 5.1 Million Performance Rights 2 24.0 Million Unlisted Options 3 9.0 Million Shareholding
Slide 27: Global experience in energy infrastructure, utilities, ship newbuilds, operations, and capital markets
Global experience in energy infrastructure, utilities, ship newbuilds, operations, and capital markets Martin Carolan Garry Triglavcanin Greg Martin Andrew Pickering David Palmer Managing Director Executive Director & Chief Chairman Non-executive Non-executive & CEO Development Officer Director Dire
Slide 28: Our purpose is to produce and develop renewable hydrogen supply chains
Provaris has adopted the World Economic Forum (WEF) framework to report material and non-material Environmental, Social and Governance (ESG) matters Our purpose is to produce • ANTI BRIBERY/CORRUPTION We maintain the highest standards of and develop renewable integrity and honesty in our business. h