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Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) managing director and CEO Martin Carolan talked with Proactive's Stephen Gunnion about two major developments shaping the company's energy strategy.

Carolan detailed a newly signed Memorandum of Understanding (MOU) with Japanese shipping group Kawasaki Kisen Kaisha Ltd — known as “K” LINE. This agreement supports the commercialisation of Provaris' compressed hydrogen shipping solution. "They come with 100 years of experience," said Carolan, adding that K LINE will assist with technical input on ship design and operator perspectives, as well as help shape commercial models and ship specifications.

This cooperation adds a key component to Provaris' broader hydrogen supply chain, especially in Europe, complementing its existing MOU with German utilities aimed at delivering hydrogen imports. According to Carolan, this step brings "bankable" shipping expertise into the fold, strengthening the credibility and feasibility of the entire supply chain.

Carolan also highlighted progress on a separate CO₂ initiative in partnership with global energy infrastructure firm Yinson Production AS. The companies reached a major design milestone for a large liquid CO₂ tank, moving faster than initially expected. The next phase will see the design enter the FEED stage post-summer. Carolan emphasised that Yinson brings not only technical support but also "immediate market applications" across large-scale CCS projects.

Looking ahead, Provaris is targeting technical and commercial validation steps for both hydrogen and CO₂ products, aiming to reach binding-level agreements before the end of 2025. Investors can expect significant updates starting from August through December.

Provaris Energy CEO on hydrogen & CO₂ roadmap following latest milestones