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- Global Energy Ventures (GEV) secures up to $300,000 funding from the Western Australian (WA) renewable hydrogen grant
- On Tuesday, the McGowan Government announced it would invest an additional $61.5 million to WA’s growing renewable hydrogen industry
- The funding will support a feasibility study for the HyEnergy Project, located in the Gascoyne region of Western Australia
- Last month, GEV signed a memorandum of understanding with Province Resources (PRL) to support the feasibility study
- GEV is up 18.1 per cent, trading at 8.5 cents per share, while Province is also up 3.45 per cent and is trading at 15 cents each at 12:17 pm AEST
Global Energy Ventures (GEV) has secured funding from the Western Australian renewable hydrogen grant.
On Tuesday, the McGowan Government announced it would invest an additional $61.5 million to Western Australia’s growing renewable hydrogen industry.
GEV said the grant is up to $300,000, excluding goods and services tax (GST).
The funding will support a feasibility study for the HyEnergy Project, located in the Gascoyne region of Western Australia.
The company is undertaking a feasibility study on the export of green hydrogen from the HyEnergy Project.
Last month, GEV signed a memorandum of understanding with Province Resources (PRL) to support the feasibility study.
GEV has now completed early preparation work and a site assessment that will lead to the appointment of key technical and environmental advisors.
The scope includes the transport of hydrogen from the onshore compression facilities to an offshore ship loading buoy and then on to Asian-Pacific markets using GEV’s compressed hydrogen ships.
Managing Director and CEO Martin Carolan is delighted to be one of the three applicants chosen for the feasibility funding from the WA Renewable Hydrogen Fund.
“One of the strategic focus areas for the WA Government’s Hydrogen Strategy is Export,” he said.
“GEV, together with the HyEnergy Project partners, aims to harness WA’s world class renewable energy resources and proud history of exporting energy to international markets, to develop the first green hydrogen export project using our compressed shipping supply chain.”
GEV is up 18.1 per cent, trading at 8.5 cents per share, while Province is also up 3.45 per cent and is trading at 15 cents each at 12:17 pm AEST.
