Provaris Energy Secures $1 Million for Hydrogen and CO₂ Storage Initiatives
Provaris Energy Ltd has closed a $1 million placement to advance its hydrogen and liquid CO₂ storage programs, aiming for critical milestones in 2026. The funds will enhance development at its Robotic Innovation Centre in Norway and support ongoing collaboration with Yinson.
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Provaris Energy Ltd has completed a $1 million capital raise, issuing approximately 130 million shares at $0.0077 each, a 14% discount to the closing share price on March 2, 2026. Proceeds will be allocated to achieving key technical milestones, including the fabrication and testing of hydrogen and CO₂ tank prototypes at its Norwegian facility, as well as ongoing work with Yinson on liquid CO₂ development.
Investors will receive one unlisted option per three shares, exercisable at $0.013 for three years. This funding positions Provaris to demonstrate the viability and scalability of its storage solutions, essential for supporting regional supply chains in the global energy transition.
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