Provaris Energy Ltd (ASX: PV1): Delivers LCO₂ Tank FEED Phase 1 On Time, Advances Toward Commercial CCS Deployment
Provaris Energy has achieved a major technical and commercial milestone with the on-time and on-budget delivery of FEED Phase 1 for its 25,000 cbm low-pressure LCO₂ tank, developed in partnership with Yinson Production.
The milestone marks a critical step toward large-scale CO₂ transport and storage solutions, supporting floating storage injection units (FSIUs), CO₂ carriers, and terminal applications as global carbon capture and storage (CCS) deployment accelerates.
FEED Phase 1 completed in January 2026, on time and within budget
Detailed engineering, materials testing and weld validation delivered
Tank designed for integration with Yinson’s 100,000 cbm FSIU
Program funded under a Joint Development Agreement (JDA)
Phase 2 FEED approved, targeting completion by June 2026
Proprietary 25,000 cbm tank design is 3–4× larger than existing Type-C tanks
Fewer tanks per vessel → lower capex and opex
Addresses a key bottleneck in scalable CCS infrastructure
Positions Provaris as an enabler of next-generation CO₂ supply chains
FEED Phase 2 to finalise detailed engineering and FEM modelling
Fabrication testing at Provaris’ robotics facility in Norway
Continued DNV Class Approval process
Alignment with Yinson FSIU FID targeted for late 2026
Market Capitalisation: ~$9.87M
With CCS emerging as a cornerstone of global decarbonisation strategies, Provaris’ progress on industrial-scale LCO₂ tank development adds tangible commercial optionality alongside its hydrogen transport platform, advancing the Company toward commercial readiness.
🔗 Read more: https://colitco.com/provaris-lco2-feed-phase1-ccs-colitco/
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