Provaris Energy (ASX: PV1)

Currency in AUD

Last close As at 26/01/2023

AUD0.05

0.01 (25.00%)

Market capitalisation

AUD25m

Australian company Provaris Energy is becoming a vertically integrated green hydrogen producer and supplier, combining production and compressed hydrogen shipping solutions.

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.

Sector

Industrials

Equity Analyst

Andy Murphy

Andy Murphy

Director, Financials & Industrials

Key Management

  • Andy Pickering

    Chairman

  • Martin Carolan

    CEO

Balance Sheet

Forecast net cash (A$m)

7.7

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (24.6) (20.4) (60.9)
Relative (20.6) (25.7) (57.4)
52 week high/low A$0.1/A$0.0

Financials

The memorandum of understanding (MOU) signed with Norwegian Hydrogen is the latest significant step in Provaris Energy’s development of a cost-effective green hydrogen (GH2) transportation solution for Europe. The first Norwegian commercial hydrogen export volumes are likely to become available around the time of Provaris’s H2Neo carrier’s maiden voyage in 2027, neatly linking with the European Union’s REPowerEU ambition to develop a hydrogen industry.

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) (1.57) N/A N/A