Provaris Energy’s Post

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Provaris is pleased to announce that it has secured a two-year $3m standby facility through a Convertible Note with Macquarie Bank: https://loom.ly/Qv_Fw4I The Facility provides additional flexibility and source of cost-effective capital to support Provaris’ forward-looking development program in 2024-2025, including development costs for potential hydrogen production and export sites in the Nordic region, the Prototype Tank program and Final Class approvals, and future working capital requirements for the production and sale of small-scale tanks based on Provaris’ proprietary technology. We are also undertaking a Share Purchase Plan to raise up to $2m (before costs) with the offer supported through a partial underwriting of $1m from existing Institutional and Sophisticated shareholders. Funds raised will be applied to the ongoing hydrogen development activities related to both technical and commercial activities in Europe, and general working capital of the group. Read more: https://loom.ly/ESzLGds

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