Provaris announces its investor relations advisor for Europe

Australian Provaris Energy has appointed Germany-based DGWA, the German Institute for Asset and Equity Allocation and Valuation (Deutsche Gesellschaft für Wertpapieranalyse GmbH) as its investor relations advisor in Europe.

Åfjord project in Trøndelag region, Norway; Archive; Courtesy of Gen2 Energy

Provaris said the appointment seeks to develop and maximize the value of the pre-existing dual listing of the company’s shares on Frankfurt, Tradegate and other German exchanges.

It further stated that DGWA will assist the company to engage with retail, institutional and family office investors in the German-speaking DACH region (Germany, Austria and Switzerland) as well as the rest of Europe and the UK.

DGWA is also expected to assist Provaris increase European investor and stakeholder awareness of the company’s activities in Norway and the Nordic regions, where the company is executing multiple commercial and project development activities.

Martin Carolan, CEO and Managing Director of Provaris, commented: “This appointment is part of our communications strategy to increase the awareness of Provaris, given Germany is the key target off-take market for proposed export volumes of hydrogen from Norway.”

“The release of Germany’s updated National Hydrogen Strategy has highlighted several policy and funding initiatives to be developed in 2023 and will ensure the alignment of upstream supply projects corresponds with the development of the German industrial sectors implementing strategies to meet decarbonization ambitions by 2030.”

Stefan Müller, CEO of DGWA, said: “This is an ideal time for Provaris to increase its engagement with European investors and stakeholders after announcing their collaboration agreements in Norway. Germany has recently declared a €3.6 billion investment to boost worldwide collaboration in green hydrogen and signed cooperation agreements with Australia and Norway. In addition, ports in Europe, such as Hamburg, are investing significant amounts to enable the receiving of compressed hydrogen.”

“Investors and stakeholders in Europe are following this sector closely, and Provaris, with its first mover advantage in green hydrogen shipping IP and development expertise and increasing commercialization and development activities in Norway, should be of strong interest to the European investor market.”

To remind, this year, Provaris Energy and Norwegian Gen2 Energy teamed up to develop a large-scale European hydrogen supply chain. Specifically, the parties signed a collaboration agreement to conduct a comprehensive pre-feasibility study to determine the technical and economic viability of producing and supplying compressed green hydrogen from the hydrogen project in Åfjord to European ports using Provaris’ marine storage and shipping solution.

Furthermore, Provaris and its ally Norwegian Hydrogen launched a 270 MW green hydrogen project at Ørskog in Ålesund municipality, Norway. The company stated the project will become one of the largest production facilities for green hydrogen in the entire Nordic region.


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