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Provaris Energy plans to have its first H2Neo carriers operational to underpin its Tiwi H2 hydrogen production and export plans, which are scheduled to be begin in 2027. Power Rack
Provaris Energy (ASX: PV1) has hit a major milestone after securing the world’s first design approval for a compressed hydrogen carrier – with large-scale shipping scheduled to begin in 2026.
The American Bureau of Shipping (ABS) has completed its review of Provaris’ 26,000 cubic metre H2Neo compressed hydrogen ship, and verified and approved the design.
According to Provaris chief technical executive Per Roed, the approval is the result of extensive design and engineering works and was completed on time and under budget.
The H2Neo is also the first of its kind to receive this level of approval from the ABS – maintaining Provaris’ first-mover status in developing an integrated compressed hydrogen storage and transport solution for the world.
“Through our close collaboration with ABS throughout this three-year process, we are confident that our compressed hydrogen carriers can safely and effectively establish the maritime transportation of hydrogen at a time when storage and transport remain key to unlocking markets with ambitions for hydrogen imports at scale from 2026,” he added.
ABS approval confirms Provaris’ design of incorporating a multi-layered hydrogen tank into the H2Neo meets its requirements.
The next step in developing the carrier will involve constructing and testing a prototype hydrogen tank.
Additionally, Provaris will begin preparing for ship construction through a selected shipyard.
Provaris has engaged Clarksons to review shipyards globally and undertake a selection process early next year.
Ship building contracts are expected to be finalised late next year with large-scale hydrogen shipping targeted to begin in 2026.
Securing the green light from the ABS also paves the way for Provaris to progress its larger 120,000m3 H2Max carrier and hydrogen storage barges – providing further capacity to meet the world’s rapidly increasing demand.
The first fleet of H2Neo carriers are expected to be operational in time to support Provaris’ Tiwi H2 green hydrogen project.
Provaris plans to generate up to 100,000 tonnes per annum on the Northern Territory’s Tiwi Islands.
The H2Neo carriers will then be used to export the hydrogen to markets in the Asia Pacific, with this anticipated to begin in 2027.
Provaris managing director and chief executive officer Martin Carolan said compressed hydrogen can provide a “safe, economic, and energy-efficient” shipping and transport solution for the fuel.
Hydrogen is deemed critical to the world reaching its climate targets for 2030 and beyond.
ABS senior vice president – global engineering and technology Patrick Ryan noted that safe and efficient storage and transportation of hydrogen at sea is critical to developing the global hydrogen supply chain.
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