Provaris Energy, a company listed on ASX under PV1, has successfully raised $1.08 million through a share placement to expedite its infrastructure projects focused on compressed hydrogen and carbon dioxide transport within Europe. The funding, which involved both new and existing investors, will propel the technical advancements of Provaris' H2Neo™ hydrogen carrier designed for safe and cost-efficient marine transport. Additionally, the company is working on a new CO₂ tank design in collaboration with Yinson Production to cater to the growing carbon capture and storage demands. Furthermore, Provaris has forged partnerships with Yinson and 'K' LINE to develop marine infrastructure for CO₂ transport and commercialize hydrogen shipping technologies in Europe and Asia. This strategic move aligns with Provaris' vision of providing integrated maritime solutions for the efficient transportation of hydrogen and CO₂, essential components in the energy transition. The placement, which includes the issuance of 83 million new shares and 27.7 million unlisted options, is set to bolster investor confidence in the company's initiatives. Despite not being part of the ASX 200, Provaris has positioned itself as a significant player in Europe's clean energy sector. The recent funding round is expected to drive momentum in Provaris' projects and contribute to the broader decarbonisation objectives in Europe.