Fully Funded FEED Underway for LCO2 Tank

Provaris has commenced a fully funded FEED for its proprietary LCO2 tank in partnership with Yinson, paving the way for future commercialization. The FEED scope includes structural engineering and hull integration design for Yinson's Floating Storage Injection Unit (FSIU). Yinson's funding commitment covers 100% of the FEED phase, with steps towards establishing a Joint Venture Company for equal ownership and licensing rights. Market opportunities for LCO2 shipping have been identified through engagements with major Asian shipowners, indicating demand for alternative large-scale LCO2 ship designs. Provaris' large-scale capacity tanks, enabled by layered-plate design and robotic fabrication, offer a first-mover advantage and scalability in the market. The FEED program will focus on developing Provaris' LCO2 tank towards operational readiness, ensuring compliance with maritime codes and regulations. The strategic partnership with Yinson allows Provaris to accelerate development while retaining 50% ownership of the IP. The company is also exploring opportunities in CO2 and H2 markets, positioning itself as a dual-market technology provider. Investors are encouraged to reach out for further details or questions regarding the company's progress towards commercial readiness and global market opportunities.