Provaris Energy

AU: PV1

Market CapAU$24m

Last Close AU$0.04

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 South-East Asia, and Europe.

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Investment summary

Provaris Energy is making material strides towards its goal of producing and supplying green hydrogen in 2026. These include the development of a new class of vessel, the GH2 carrier, the construction of an H2 production facility in Northern Australia and the delivery of a feasibility study in Western Australia for HyEnergy. If successful, the project is expected to produce attractive internal rates of return (IRRs) and be scalable in multiple global regions. Finally, at the recent AGM, shareholders approved the change of the company name from Global Energy Ventures to Provaris Energy.

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 South-East 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 30/06/2022
Content on Provaris Energy
Provaris Energy – Impressive progress towards 2026 targets
Industrials | research Update | 6 June 2022
offshore rig in twilight
Global Energy Ventures – executive interview
Industrials | Edison TV | 29 November 2021
Global Energy Ventures – Unique green hydrogen investment vehicle
Industrials | research Update | 19 November 2021
offshore rig in twilight
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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 (38.6) (59) (35.8)
Relative* (32.1) (52.7) (27.8)
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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