Provaris Energy

ASX: PV1

Market CapAU$32m

Last Close AU$0.06

Provaris Energy is becoming a vertically integrated green hydrogen producer and supplier, combining production and compressed hydrogen shipping solutions for transporting energy from Australia to regional markets in Southeast Asia and Europe.

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Investment summary

The Q322 update from Provaris neatly summaries not only the significant progress made in the period, but highlights further progress already made in the early weeks of Q4 and other key announcements that are likely to be forthcoming before year-end, including the potential Approval for Construction of the novel H2Neo compressed hydrogen carrier that would make Provaris Energy the genuine first mover in the space. Agreements leading to first offtake for Tiwi H2 or contracts for long-term shipping services could come as early as next year and would be a real game-changer, affirming management’s confidence in the credibility of its compressed hydrogen solution.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2021A 0.2 0.0 (3.1) (0.7) N/A N/A
2022A 0.4 0.0 (6.8) (1.3) N/A N/A
2023E 0.3 0.0 (9.7) (1.7) N/A N/A
2024E 0.3 0.0 (10.2) (1.6) N/A N/A
Industry outlook

Australia is blessed with plentiful renewable energy sources (wind and solar) and a relatively limited local demand given the population. By contrast, several countries in Southeast Asia have pledged to decarbonise their economies but have challenges in achieving targets given the geographies. Provaris Energy is looking to address this imbalance by transporting surplus energy in the form of green hydrogen from northern and western Australia to areas of high demand in its novel compressed hydrogen vessels.

Last updated on 11/10/2022
Content on Provaris Energy
Provaris Energy – Q3 activity update highlights key milestones
Industrials | research Update | 28 November 2022
Provaris-ship-mockup-1
European momentum boosts Provaris Energy
Industrials | blog | 20 October 2022
Provaris Energy – MOU with Total Eren is pivotal endorsement
Industrials | research Update | 20 September 2022
Provaris-ship-mockup-1
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Share price graph
Balance sheet
Forecast net cash (A$m) 7.7
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (15.9) 5.5 (34.1)
Relative* (12.7) 5.5 (26.9)
52-week high/low A$0.2/A$0.0
*% relative to local index
Key management
Andy Pickering Chairman
Martin Carolan CEO

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