Provaris Energy Ltd (AU:PV1) has released an update.
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Provaris Energy Ltd is actively working to overcome the recent bankruptcy of its contractor, Prodtex Industri AS, by proposing terms to lenders for the swift resumption of their proprietary hydrogen Prototype Tank construction. The company is also considering alternative contractors and plans to acquire the facility where the tank was being constructed. Provaris aims to maintain project momentum, targeting completion and testing of the tank within 4-6 months, and to further develop smaller-scale hydrogen tanks for the European market.
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