Provaris, a visionary company in the realm of hydrogen technology, has unveiled a groundbreaking innovation known as H2Leo, gaseous hydrogen floating storage solution. This development serves as a logical extension of Provaris' expertise in compressed hydrogen intellectual property, presenting an alternative to the current exorbitant bulk-scale storage options while enhancing the economic viability of its ongoing projects.
H2Leo, with its design capacity range spanning from 300 to 600 tonnes of hydrogen, expandable to a staggering 2,000 tonnes, revolutionizes the global hydrogen industry by offering an energy-efficient and cost-effective storage solution. Recognizing the significance of this groundbreaking concept, the American Bureau of Shipping (ABS) has granted an esteemed 'Approval In Principal' for the H2Leo storage solution. This endorsement grants Provaris greater flexibility and optimization opportunities within its compressed hydrogen supply chain projects, which are presently under development in Asia and Europe.
Notably, Provaris aims to achieve a remarkable capital cost range of US$ 0.2 – 0.3 million per tonne for the H2Leo, making it substantially more affordable than traditional onshore alternatives. The versatility of this floating storage solution extends to various hydrogen supply chains and applications, including bunkering for the maritime sector, intermittent or buffer storage for green hydrogen production, and long-duration storage for surplus renewable energy.
By providing buffer storage at export and import locations, H2Leo offers unparalleled flexibility and optimization potential for Provaris' compressed hydrogen supply chain projects. This innovative approach effectively reduces the overall cost of supply while streamlining operations.
In conjunction with ongoing engineering endeavors and regulatory approvals for the H2Neo carrier, Provaris will simultaneously advance the development of H2Leo. Prototype testing and final class approval are slated for later this year, with the H2Leo floating storage solution anticipated to be available by 2025.