MOU with Yinson and Himile to Advance LCO2 Tank Production

HIGHLIGHTS:

• Provaris and Yinson Production enter MOU with Himile to assess the fabrication of the proprietary LCO₂ tank at Himile’s manufacturing site in Rushan, China.

• Himile has an extensive track record working with global energy and EPC companies in the construction of large, complex modules for the oil and gas industry.

• MOU runs in parallel to the LCO₂ tankFEED program to determine manufacturability, cost, and delivery timelines. Factors that are critical to the development of the FSIU and carbon capture and storage value chain.

• Recent site visit to Rushan confirms suitability of existing yard and deep-water facilities suitable for the fabrication and delivery of large scale LCO₂ tanks.