Provaris Energy has initiated a Front-End Engineering Design (FEED) program for its large-scale, low-pressure liquid carbon dioxide (LCO₂) tank, with full funding from its partner, Yinson Production AS. This marks a significant step toward commercializing the technology for the carbon capture and storage (CCS) market.
The FEED Program and Joint Venture
The FEED program is a crucial phase in which Provaris’s concept design will be refined for structural engineering, hull integration, and compliance with maritime standards. The design will be optimized for robotic fabrication and steel weight. Experimental test sections will be created at Provaris’s facility in Norway to be assessed as part of the program. The first deliverables are expected in December 2025, with completion and design approval targeted for mid-2026.
Following the FEED phase, Provaris and Yinson plan to form a joint venture in 2026. This new company will hold equal ownership and licensing rights to the intellectual property of the tank’s design and fabrication, allowing for its commercial use in both marine and onshore applications.
Addressing Market Needs and Cost Barriers
Provaris’s technology is designed to overcome the limitations of traditional LCO₂ transport, which typically uses small-capacity Type C tanks. The company’s design uses a layered construction of standard carbon steel, enabling a larger capacity of 40,000 to 50,000 cubic meters. This approach reduces construction costs, improves hull utilization, and lowers capital and operating expenses for LCO₂ carriers.
Insights from a recent Asian roadshow, where Provaris met with major shipowners like K-Line, confirmed a market preference for such large-scale tanks. The technology also provides a “dual-market” advantage, as the experience gained from the LCO₂ project will also benefit Provaris’s compressed hydrogen tank designs.
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Source: Proactive Investors
