- Global Energy Ventures (GEV) has been issued a US patent which further protects its CNG Optimum intellectual property
- This is the second patent issued for the technology, and relates to pipe containment systems for ships
- The original patent application for CNG Optimum is now pending review in 36 countries
- The company’s latest patent from the US Patent Office has a term of 20 years
- Global Energy Ventures closed 5.17 per cent in the green for 6.1 cents per share
Global Energy Ventures (GEV) has been issued a US patent which further protects its CNG Optimum intellectual property.
This is the second patent issued for GEV’s CNG Optimum technology. The original patent application protected the company’s key intellectual property regarding pipes for CNG pressure vessels in ships or barges.
The patent protected the concept of forcing long straight pipes in a ship’s hold or barge’s deck together, so that the friction between them would prevent relative movement between pipes, or between the pipes and the ship or barge. This is the primary intellectual property owned by GEV which allows bundles of long straight pipe to be used as CNG pressure vessels.
The original patent is now in the National Phase for review in 36 countries.
In January 2019, the company conducted engineering work in order to achieve successful Design Approval for Construction from the American Bureau of Shipping (ABS). This latest patent application, which relates to pipe containment systems for ships, arose from that work.
The second, newly announced patent covers a methodology and apparatus which creates small spaces between pipes, in order to avoid overstressing a ship’s side structure. The patent also expands upon the original patent for CNG Optimum, by providing two improved methods for filling gaps between forcing beams and pipes.
Global Energy Ventures’ Executive Chairman and CEO, Maurice Brand, commented on the significance of the company’s latest patent, which has a 20-year term.
“This patent awarded for CNG Optimum gas storage and transport demonstrates the robust IP developed as a result of the ‘design approval for construction’ by ABS in 2019 for the CNG 200 Optimum ship,” he said.
“A strong Patent Portfolio is a critical asset of the company as full technical information is made available to shipyards, financiers, regulators, and ship charter customers.
“This patent supports and strengthens the first patent application, which is now pending in 36 countries,” he said.
Global Energy Ventures closed 5.17 per cent in the green for 6.1 cents per share.