Provaris Energy

AU: PV1

Market CapAU$40m

Last Close AU$0.07

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

Provaris Energy is one of the first transport companies to offer the prospect of genuinely emission-free hydrogen production and inter-regional hydrogen transport solutions. Its innovative compressed hydrogen ship design is progressing through Class approvals and is in the early stages of development. It is targeting a construction-ready decision in 2023 and available ships for operation in 2026, serving markets into Southeast Asia from Australia and within the European region from onshore supply projects, and also exciting applications in offshore energy production for hydrogen. Our scenario models suggest IRRs of between 10% and 19%.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2020A 1.5 0.0 (2.9) (0.7) N/A N/A
2021A 0.2 0.0 (3.1) (0.7) N/A N/A
2022E 0.0 0.0 (6.4) (1.3) N/A N/A
2023E 0.0 0.0 (7.4) (1.3) 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. The company recently changed its name from Global Energy Ventures.

Last updated on 10/08/2022
Content on Provaris Energy
Provaris Energy – Impressive progress towards 2026 targets
Industrials | research Update | 6 June 2022
Provaris - ship - mockup -1
Global Energy Ventures – executive interview
Industrials | Edison TV | 29 November 2021
View more
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Share price graph
Balance sheet
Forecast net cash (A$m) 12.7
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 32.7 1.4 (1.4)
Relative* 26.1 2.0 6.7
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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