FEED Milestone Achieved for LCO2 Tank through DNV Approval Process

• Major FEED milestone achieved: detailed engineering package for the proprietary YP-Provaris LCO2 tank completed and submitted to DNV, advancing the design toward Approval in Principle (AiP) and General Approval for Ship Application (GASA).

• DNV design review targeted for completion August 2026, following engagement through 2025/26 to support the tank’s approval pathway.

OSLO: Provaris Energy Ltd (ASX:PV1, Provaris or the Company) is pleased to announce completion of a key FEED milestone for its proprietary low pressure YP-Provaris LCO2 tank, with the detailed engineering package submitted to DNV to support a General Approval for Ship Application (GASA) approval process.

Provaris Chief Technical Officer, Per Roed, said: “Completion of the FEED engineering package for a GASA review level is an important technical milestone for Provaris and reflects the extensive structural design work undertaken by our team and Yinson.

We believe the engineering package completed for the YP-Provaris LCO2 tank goes well beyond the scope normally associated with an AiP, giving shipowners, shipyards and CCS project participants greater confidence in the maturity, safety basis and practical application of our low-pressure LCO2 containment solution.”

DNV Maritime’s Business Development Director CO2 Shipping E. Mathias Sørhaug, commented: “We’re pleased to be involved in qualifying an entirely new way of storing pressurised CO2. A substantial amount of calculation and documentation work has gone into this, and there’s a clear plan in place towards qualification for first application. DNV look forward to continuing the good collaboration moving forward.”