- Provaris Energy (PV1) establishes its Norwegian office, Provaris Norway AS, with the corporate office headquartered in Oslo
- The establishment is the first step towards Provaris’ strategy of establishing Europe as a key region of focus for its commercialisation activities
- As part of the move, Chief Technical Officer Per Roed will relocate to Oslo to lead the new corporate arm
- CEO Martin Carolan says the new corporate location will open access to new sources of government funding and a deeper pool of capital market participants
- Shares in Provaris are up 1.52 per cent to trade at 6.7 cents at 2:08 pm AEST
Provaris Energy (PV1) has established its Norwegian office, Provaris Norway AS, with the corporate office headquartered in Oslo.
The establishment is said to be the first step towards the company’s strategy to establish Europe as a key region of focus for its commercialisation of integrated compressed hydrogen supply chain solutions.
As part of the move, Chief Technical Officer Per Roed will relocate to Oslo to lead the new corporate arm.
Managing Director and CEO Martin Carolan commented his excitement of the Oslo hub, which he said will open access to new sources of government funding and a deeper pool of capital market participants.
“The location of Norway is strategic, and we expect it to remain an important region long term,” he said.
“The company has experienced an increase in opportunities across many supply and demand hubs in Europe, so it makes sense to be closer to technical partners, suppliers and off-takers.”
Mr Roed reiterated Mr Carolan and elaborates Oslo as an established hub for gas-carrier companies which will allow the company to leverage local knowledge and expertise.
Shares in Provaris were up 1.52 per cent to trade at 6.7 cents at 2:08 pm AEST.