Provaris Energy Ltd, an Australian company, is facing challenges after the bankruptcy of Prodtex Industri AS, its contractor for the hydrogen Prototype Tank. The bankruptcy resulted in a halt in fabrication and welding activities on the tank. Provaris is actively working with secured lenders to navigate through this situation. The company's immediate focus is on completing the Prototype Tank, with plans to submit proposals to lenders for construction resumption. Discussions are ongoing with various stakeholders, including Prodtex AS, to explore alternative contractors and sites in Europe for efficient completion. Key terms are being prepared to restart construction swiftly with a target completion timeline of four to six months. Additionally, Provaris is considering acquiring the Fiskå Facility for long-term construction of smaller scale hydrogen tanks, catering to industrial users in Norway and the EU. The company is also seeking strategic partnerships to support its innovative hydrogen storage and bulk marine transport initiatives. Provaris Energy's commitment to green hydrogen projects in Asia and Europe underscores its focus on sustainable energy solutions.