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- Detailed engineering package for the proprietary tank completed and submitted to DNV
- DNV design review targeted for completion August 2026
- Engineered as a Type C equivalent maritime tank
- Final stage of FEED underway
Provaris Energy (ASX:PV1) has hit a key FEED milestone for its proprietary low pressure YP-Provaris LCO2 tank.
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The LCO2 tank design is intended to provide a scalable marine containment solution for transport of liquefied carbon dioxide as part of emerging carbon capture and storage supply chains.
Provaris has now submitted detailed engineering package to classification specialist DNV to support a general approval for a ship application (GASA) approval process.
Chief technical officer, Per Roed, said the FEED program completion and associated approvals will de-risk Provaris’ strategy to commercialise its cargo containment solution within the developing maritime transport and storage of CO2 market, with global CCS investment is forecast by DNV to approach around US$80 billion by 2030.
“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.”
With a design capacity of 25,000 cbm the YP-Provaris LCO2 tank seeks to overcome the limitations of alternative Type C tanks and includes the detailed structural design of a proprietary sandwich type structure engineered in accordance with the IGC Code.
DNV Maritime’s BDD CO2 shipping, Mathias Sørhaug, said qualifying involved 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.”
A final stage of the FEED includes a test program for the selected materials and welding procedure specifications. Testing of the fabricated elements will validate the strength and fatigue calculations in the structural model, with completion during August 2026. Results will feed into the review process by DNV.
In addition, sample sections of the tank design will be produced to demonstrate proprietary design elements of the tank which can be fabricated with robotic mounting and laser-welding. Fabrication will take place at Provaris’ Robotic Facility located in Norway.
PV1 is down 12.5% to 0.7¢. Mkt cap $8.331M.
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