Provaris Energy Ltd. has completed a AU$1 million capital raising to advance the next phase of its green hydrogen and liquid carbon dioxide (LCO₂) storage and transport development programs through 2026.
The company will issue 130 million new shares at 0.77 cents per share. The new shares will be accompanied by one free-attaching unlisted option for every three shares issued, exercisable at 1.3 cents and with a three-year expiry.
The newly secured funds will directly support critical technical milestones underpinning the company’s commercialisation strategy.
Key initiatives include funding operations at Provaris’ Robotic Innovation Centre in Norway, where the company is fabricating and testing its hydrogen (H₂) prototype tank alongside LCO₂ tank components.
Additionally, the capital will sustain the ongoing LCO₂ tank development program conducted in partnership with infrastructure giant Yinson under an existing Joint Development Agreement.
Provaris CEO Martin Carolan said: “This capital raise ensures we remain on track to deliver the technical milestones that matter most for our shareholders.
“2026 is a pivotal year for Provaris and the work underway in Norway, combined with Yinson’s continued backing of the LCO₂ FEED program, positions us to demonstrate the capability, scalability, and commercial relevance of our storage and transport solutions.”
The placement involves the issuance of approximately 130 million new fully paid ordinary shares at an issue price of $0.0077 per share. This price reflects a 14 per cent discount to the company’s closing price on 2 March 2026 and a 24 per cent discount to the 15-day volume-weighted average price.
Investors will also receive one free-attaching unlisted option for every three shares issued, exercisable at $0.013 with a three-year expiry.
Settlement of the single-tranche placement is scheduled to occur on June 25.