Australian energy company Provaris has entered into a memorandum of understanding (MoU) with Japanese shipping company Kawasaki Kisen Kaisha (K Line) to advance the commercialization of its compressed hydrogen shipping and offshore storage solutions. This one-year agreement will see Provaris and K Line collaborating on the development, construction, and operation of Provaris' H2Neo Carriers and H2Leo Barges. The H2Neo Carrier, tailored for regional marine transport, boasts a hydrogen capacity of up to 27,000 cubic meters, and it has already obtained FEED Design Class Approval. On the other hand, the H2Leo Barge is optimized for nearshore and port operations, focusing on compressed hydrogen storage. The partnership involves K Line offering technical, commercial, and operational assistance to aid Provaris in refining operational cost models, newbuild programs, and charter terms. Additionally, this collaboration is expected to bolster Provaris' export ventures in Norway and complement existing agreements with German utilities for hydrogen delivery, aligning with the goal of meeting Europe's hydrogen import needs by 2030. Provaris' Managing Director and CEO, Martin Carolan, expressed anticipation for K Line's support in developing export project supply chains in the Nordics. In a separate development, Provaris successfully finalized the design of liquid CO2 (LCO2) tanks in partnership with Yinson Production, leading to a joint venture aimed at commercializing LCO2 marine and offshore applications. These strategic moves signify Provaris' commitment to innovation and collaboration in the energy sector, expanding its reach in the maritime and offshore industries.