Provaris Energy Ltd (Provaris) and Yinson Production Offshore Pte Ltd (Yinson) have announced a joint development agreement to co-design storage tank solutions aimed at addressing the growing demand for carbon dioxide (CO2) storage and bulk marine transportation, as carbon capture gains traction globally.
The partnership will focus on adapting Provaris’ existing tank technology, which was initially designed for compressed hydrogen, to create a solution for the storage and transport of compressed and liquid CO2.
The deal also opens the door to exploring other hydrogen derivatives such as ammonia, marking a broader application of Provaris’ tank design.
Yinson Production brings a background in offshore production, particularly through the construction of floating production, storage and offloading (FPSO) vessels.
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