Provaris Energy has successfully raised $1.08 million through a share placement to institutional investors at $0.013 per share. The funds will primarily be used to advance hydrogen and CO2 storage and marine transportation business development activities in Europe. Provaris will focus on its hydrogen prototype tank program in Norway and collaborate with 'K' LINE for commercializing hydrogen carriers for storage and transport solutions in Europe. The company is also progressing well in the liquid CO2 tank design phase to address the market demand for specialized maritime and offshore storage solutions for carbon capture and storage (CCS) to meet Europe's regulations on industrial supply chains. The placement details include the issuance of 83 million new fully paid ordinary shares, with Directors participating in the Placement by subscribing for $52,000. The settlement of the Placement is expected to occur on July 8, 2025, subject to shareholder approval at an EGM planned for August 2025. Ethicus Advisory Partners served as the Lead Manager to the Placement.