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GEV Signs MOU With the HyEnergy Project on the Export of Green Hydrogen to Asia Pacific Markets

By August 9, 2021 3   min read  (501 words)

August 9, 2021 |

fuel cells works, hydrogen, gev, C-H2, fuel cells

• GEV has entered into a Memorandum of Understanding (MOU) with the partners of the HyEnergy Project to undertake a feasibility study on the export of green hydrogen.
• The study will evaluate the technical feasibility and delivered cost of green hydrogen exports to nominated Asia-Pacific markets utilising GEV’s compressed hydrogen marine supply chain.
• The purpose of the study is to provide the partners of the HyEnergy Project with sufficient confidence to warrant the selection of GEV’s C-H2 marine transport supply chain as a preferred export method in the next phase of project engineering.

Gobal Energy Ventures Ltd (ASX: GEV, the Company) is pleased to announce the Company has entered into a non-binding Memorandum of Understanding with Province Resources (ASX:PRL, Province) and Total Eren
(together the HyEnergy Project partners) to support a technical and commercial feasibility study on exporting green hydrogen from the HyEnergy Project, located in the Gascoyne region, in Western Australia, to nominated markets in the Asia-Pacific region.

Martin Carolan, GEV Managing Director and CEO commented: “The HyEnergy Project is an ideal green hydrogen export project for our compressed hydrogen shipping solution given its strategic location on the W.A. Gascoyne coastline, within a regional distance to multiple Asian markets with a future requirement for imported hydrogen.”

David Frances, Province CEO stated: “The HyEnergy Project partners are keen to understand the benefits of compressed hydrogen in relation to other means of transporting our potential green hydrogen product to market. GEV are leaders in this technology and will bring that experience to the study.”

TERMS OF THE MOU

  • GEV will undertake a feasibility study to evaluate the technical and commercial feasibility of exporting green hydrogen from the HyEnergy Project. The scope includes transport from the onshore hydrogen gas production facility to an offshore ship loading buoy and then on to nominated Asia-Pacific markets utilising GEV’s compressed hydrogen shipping solution.
  • The purpose of the Study is to provide the HyEnergy Project partners with sufficient confidence to warrant the selection of compressed hydrogen as a preferred export method in the next phase of project engineering.
  • The MOU is non-binding, non-exclusive, and expires on 31 December 2022.

ABOUT GLOBAL ENERGY VENTURES LTD
Global Energy Ventures (ASX: GEV) is an energy transition company with a mission to deliver compressed shipping solutions for transporting energy to regional markets. Our business model is to Build, Own and Operate
the production, storage and shipping of green hydrogen.

In 2020, GEV introduced the world’s first large-scale Compressed Hydrogen (C-H2) ship and positioned the company as an early mover to fast track the marine transport of Hydrogen. The engineering and design of the
C-H2 ship has benefited from the Company’s long-standing history in developing compressed gas carriers through to final construction approval.

GEV has demonstrated that the simplicity and energy efficiency of its C-H2 shipping solution is ideally suited for exporting hydrogen over medium distances (i.e., Australia to Asia-Pacific, or MENA to Europe) providing a lower delivered cost and eliminating the technical barriers of other transport alternatives.

 

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