Provaris Achieves Major Milestone with On-Time Delivery of Pioneering LCO₂ Tank FEED Phase 1

• Successful completion and delivery of the first set of deliverables for the ongoing FEED for large-scale LCO₂ Tanks, delivered on time and budget in January 2026.

• The FEED program continues under the Joint Development Agreement (JDA) with a target completion for June 2026.

• The FEED program includes detailed engineering and material and weld testing of a proprietary 25,000 cbm LCO₂ low-pressure tank and ongoing Class approval process with DNV.

• Yinson Production continues with the development of its FSIU with a timeline for FID late-2026.

Provaris Energy announced today that, in collaboration with its LCO₂ tank development partner Yinson Production, has successfully completed the Phase 1 delivery of the LCO₂ Tank Front End Engineering and Design (FEED) program on time and within budget during January 2026.

Yinson Production has advised Provaris to continue with Phase 2 to finalise the FEED stage under the JDA terms, with the program to run through to June 2026, and milestones to include Class Approval and a fully costed fabrication facility and tank production cost estimate.

The FEED will focus on finalising detailed engineering and FEM modelling, testing, and design for fabrication of the 25,000 cbm LCO₂ low pressure tank. The LCO₂ tank is developed for integration into Yinson Production’s design for a Floating Storage Injection Unit (FSIU) with 100,000 cbm storage capacity, intended for deployment at the Havstjerne CCS project located in the North Sea. The new LCO₂ tank design will also be suitable for LCO₂ carriers and LCO₂ storage/ terminal applications.

The design and development of new large-scale tanks are seen as critical to the commercialisation of CO₂ supply chains. The primary target of Provaris’ large-scale LCO₂ tank design at 3-4x the capacity of existing Type C tanks is to reduce the number of tanks require for FSIU and large scale LCO₂ carriers. The benefits will result in lower capital cost for vessels (smaller hill dimensions, improved hull utilisation, and fewer process systems) and lower operating cost (simplified operations and maintenance), with the goal to deliver lower cost per tonne of LCO₂ transported.

Provaris’ Chief Technical Officer, Per Roed, commented: "We are proud to have achieved this milestone in the development and delivery of our pioneering 25,000 cbm LCO₂ tank FEED program, on schedule and within budget. This accomplishment reflects the dedication, innovation and technical expertise of our team and partnership with Yinson and marks a major step forward in advancing large-scale CO₂ storage solutions for the market. These advancements position us to deliver real value to Yinson and other prospective partners and customers seeking efficient, cost-effective solutions for CO₂ supply chains at scale."

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