Join our daily newsletter At The Bell to receive exclusive market insights
- Global Energy Ventures (GEV) says a recent study has proved it can deliver an emission free compressed hydrogen supply chain.
- The study demonstrates GEV’s could provide a zero-emission supply chain to produce green hydrogen in Australia for markets in the Asia–Pacific region
- Export volumes could range from 50,000 to 400,000 tonnes of green hydrogen per annum, produced from renewable power and electrolysis
- Following a recent $6.3 million placement, GEV says it’s in a good financial position to advance the C-H2 program for 2021
- Global Energy Ventures is up 5 per cent and trading at 10.5 cents per share
Global Energy Ventures (GEV) says a recent study has proved it can deliver an emission free compressed hydrogen (C-H2) supply chain.
According to the company, the study demonstrates GEV’s C-H2 supply chain could be a competitive large-scale marine hydrogen transport solution up to 4,500 nautical miles (around 8300 kilometres).
The solution aims to provide a simple and energy efficient supply chain for export volumes ranging from 50,000 to 400,000 tonnes of green hydrogen per annum, produced from renewable power and electrolysis.
GEV says C-H2 provides a solution for the hydrogen economy, potentially providing a zero-emission supply chain for green hydrogen to be produced in Australia for markets in the Asia-Pacific region.
”When compared to Liquefaction (LH2) and Ammonia (NH3), we have demonstrated C-H2 is the simplest, with minimal technical barriers to achieve commercialisation in line with timelines for large-scale projects seeking a transport solution,” said the Executive Director of GEV, Martin Carolan.
Last month, GEV announced a collaboration with Ballard Power systems to develop a hydrogen fuel cell system for GEV’s compressed hydrogen ship.
Today, the company says the recent study results give it confidence to rapidly develop the C-H2 ship and supply chain to the next phase.
Following a recent $6.3 million placement, GEV says it’s in a good financial position to advance the C-H2 program for 2021.
”GEV will now accelerate its plan to address key markets for green hydrogen, alongside advancing the C-H2 Ship approvals from American Bureau of Shipping expected in 1H 2021 and define our own green hydrogen export project in Australia to support the construction of a pilot scale C-H2 Ship,” Martin continued.
Global Energy Ventures is up five per cent, trading at 10.5 cents per share at 10:22 am AEDT.
