Provaris Energy Selects Concept for CO₂ Tank Tech
Singapore-based Provaris Energy Ltd (ASX:PV1, OTC:GBBLF, FRA:WS90) has achieved a significant concept selection milestone for its innovative liquefied carbon dioxide (LCO₂) tank design. This advancement expands the potential applications of the technology across the entire carbon capture and storage (CCS) supply chain.
The company’s proprietary tank design aims to provide a flexible and cost-effective solution for transporting and storing LCO₂. The selection of this concept marks a crucial step forward in the development and commercialization of the technology, demonstrating progress towards facilitating large-scale CCS projects.
Provaris Energy's focus is on developing solutions for the emerging LCO₂ shipping market, which is expected to grow significantly alongside the global push to reduce carbon emissions. The company believes its tank technology can play a vital role in enabling the efficient and safe transport of captured CO₂ to storage locations or utilization sites. The development supports the growing demand for infrastructure needed to support CCS initiatives.
The ultimate goal is to contribute to a more sustainable future by providing essential infrastructure for carbon management. Further details regarding the specifics of the selected concept and subsequent development phases are expected to be released by Provaris Energy in due course. The company is listed on the Australian Securities Exchange (ASX) under the ticker PV1, and also trades on the OTC and Frankfurt exchanges.
