Provaris Energy Ltd · ASX:PV1
Provaris Energy — NWR Sydney Resources Lunch 2024
24 slides from Provaris Energy's conference presentation, Mar 20, 2024
Slide 1: Compressed Hydrogen: First mover supply to Europe
Compressed Hydrogen First mover supply to Europe NWR Sydney Resources Lunch | 20 March 2024 Australia Norway
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: Solving the challenge of safe, low-cost regional green hydrogen storage & supply
Solving the challenge of safe, low-cost regional green hydrogen storage & supply using the simplicity and efficiency of compression Advanced IP and Approvals for Shipping & Storage Assets Collaboration for H2 Export H2Neo H2Leo Onshore storage Hydrogen Carrier (430t) Storage Barge (300-600t) solutio
Slide 4: Net-zero targets and energy security
Net-zero targets and energy security Europe is the number one market with unprecedent industry support through policy and funding support Global hydrogen demand by sector in the Net Zero Scenario, 2020- 2030 (IEA, 2023) RED III requires all REPowerEU hydrogen hydrogen in 2030 used by Refining Indust
Slide 5: Leveraged to European policy actions mandating the use of hydrogen in the energy mix
1 Leveraged to European policy actions mandating the use of hydrogen in the energy mix 2 Unique approach creates first mover advantage and most economical regional hydrogen supply 3 Final shipping approvals imminent, paving the way for near term commercialization opportunities 4 Increasing attention
Slide 6: Accelerating innovation to meet the need for safe, simple, efficient and economic solutions
Accelerating innovation to meet the need for safe, simple, efficient and economic solutions for hydrogen storage and transport Established as Global Energy Ventures Ltd for Prototype tank Renamed to development of Compressed Natural Gas (CNG) construction & testing Provaris Energy Ltd Achieved Full
Slide 7: Simplicity of the supply chain… Where do we play…
Simplicity of the supply chain… Green Hydrogen Production Provaris Storage and Marine Transport solution Distribution End-user (Ports/Pipeline) Markets Renewable Electrolysis Compress & Load Store & Transport Decompression & Steel Energy (gaseous H2; 20-30 barg) (250 barg pressure) (gaseous H2, no b
Slide 8: Compression, Ammonia, Liquefaction comparison
Comprehensive benefits focus on energy efficiency and capital deployed – not only energy density! Industry now focused capex & conversion losses Compression > Low energy density and limited to regional shipping (H2Neo 2,000 Nm) Conversion of H2 into a carrier for export > Proven technology up to 700
Slide 9: Delivered LCOH (US$/kg H2)
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 (May 2023 Hydrogen Transport Comparison Report, Provaris Energy) Solar/Wind RE to Deliver 100,000 tpa as Hydrogen Gas Solar/W
Slide 10: Compressed hydrogen is gaining increasing approval to advance supply of hydrogen to Europe
Compressed hydrogen is gaining increasing approval to advance supply of hydrogen to Europe Key findings supported by German Federal Ministries Scotland identifies compression as lowest cost to EU > Production of gaseous Green Hydrogen range from 95 to 110 EUR/MWH (3.17 to > Focus on the ‘cost-effect
Slide 11: Unique Proprietary tank design unlocks significant markets for low-cost storage and transport
Unique Proprietary tank design ‘unlocks’ significant markets for low-cost storage and transport 2021 2022 2024 2025 2027 Prototype construction underway • Cash flow from small scale tanks • Shipping operations AiP received FEED Design Approval (Approval in Principle) • Prototype Tank Testing 2Q • Fi
Slide 12: Regional supply of hydrogen using compression provides Provaris with a competitive advantage
150-300 MW. Shorter shipping distance, grid renewables and project capacity aligned with market demand Up to 50ktpa > Local presence with Provaris Norway AS established 2022 Tank Production > Collaboration projects for H2 export with Norwegian developers with scale that can balance capex and market
Slide 13: Robust project economics now driving interest from utilities for long-term offtake
Robust project economics now driving interest from utilities for long-term offtake H2 Production / Sales: 50,000 tpa of green hydrogen Shipping Distance: 650 n.miles Electrolyser Capacity: 330 MW (hydro power source @ 35 MWh PPA) Conversion Rate: 57.5 kWh / kg H2 (overall, loaded on ship) Total Cape
Slide 14: Advanced stage of development with major milestones
Advanced stage of development Portfolio of IP and H2 projects that Near-term pathways to value with major milestones… unlocks significant commercial creation and cashflow… markets… Small-scale Storage Tanks > 1H 2024: Prototype Containment (1, 5, 10 tonne capacity for Buffer, Marine, refuelling and
Slide 15: Contacts
Contacts Martin Carolan Managing Director & CEO Media & PR Enquiries mcarolan@provaris.energy Melanie Singh NWR Communications Per Roed +61 439 748 819 Chief Technical Officer proed@provaris.energy melanie@nwrcommunications.com.au Garry Triglavcanin Product Development Director www.provaris.energy g
Slide 16: Appendices
YZ Appendices _
Slide 17: Capital Structure
Capital Structure Regional Office Locations Servicing Europe & Asia Provaris Norway AS. Oslo Ordinary Shares on Issue (PV1.ASX) 598 Million (est. 2022) Market Capitalisation (at 3.6c) A$ 20 Million Cash (31 Dec 2023) A$ 2.5 Million Performance Rights 1 24.0 Million Unlisted Options 2 32.7 Million 1.
Slide 18: 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 Greg Martin Andrew Pickering David Palmer Managing Director Chairman Non-executive Non-executive & CEO Director Director Commercial Business Leader, Energy, Infrastructure, Shipping,
Slide 19: Unique Proprietary tank integrated with standard MR tanker
Unique Proprietary tank integrated with standard MR tanker that ‘unlocks’ low-cost storage and transport Flexible Jetty Solutions utilizing existing technologies H2Leo Storage Barge H2Neo (H2Neo Hydrogen Carrier – Illustration) Hydrogen Carrier Compressed Hydrogen carriers targeting final Class Appr
Slide 20: Use of proven robotics and laser-welding will crack the code on cost-effective storage
Use of proven robotics and laser-welding will ‘crack the code’ on cost-effective storage and transport > Q1 2024: Prodtex AS to construct and test a prototype scaled tank, alongside SINTEF, DNV and ABS for fatigue testing and final approvals. > Q2 2024: Successful testing demonstrates safety of the
Slide 21: Robust project economics for EU funding and bankability
Robust project economics for EU funding and bankability, subject to industrial 20yr offtake and PPA Collaboration Norwegian Hydrogen AS, located Ålesund region Collaboration with Gen2 Energy AS, located Trøndelag region > Pre-feasibility completed March 2023 for 270 MW production capacity > Prefeasi
Slide 22: Early revenue opportunity with production ready facility to take orders in 2024
Early revenue opportunity with production ready facility to take orders in 2024 and scale-up in 2025 CASE STUDY (COST): Development of a 1-tonne tank as an alternative to Type-4 carbon fibre containerised tanks for mobility Maritime Fuel/Bunkering Refueling Stations Industrial Buffer Storage 1H 2024
Slide 23: Comprehensive benefits focus on energy efficiency and capital deployed
Comprehensive benefits focus on energy efficiency and capital deployed – not only energy density! Hydrogen Carrier Alternatives Energy Use / Losses (%) 45 9 kWh/kg Synthesis Min. 25% Cracking 40 35 30 11 kWh/kg Liquify 25 5% Regas Use 20 15 10 1.5 kWh/kg load + 0.2 kWh/kg 5 unload 0 Liquefied Ammoni
Slide 24: 2.6 GW Solar Generation Target for first export
Concept Design complete with further development activity pending Land Agreements & JV Partner 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 Environmental Impac