Global Energy Ventures Ltd (ASX:GEV) is trading higher on appointing key consultants and commencing a HyEnergy Export Feasibility Study on Province Resources Ltd’s HyEnergy Zero Carbon Hydrogen® Project.
The objective of the HyExport study is to demonstrate the technical feasibility and commercial advantages of GEV’s compressed hydrogen shipping solution.
Recognising the importance of this development, investors have sent share prices almost 15% higher to as much as 9.3 cents.
Specialist experience
“GEV is delighted to appoint a group of leading consultants with the specialist experience to assist with the completion of the company’s first feasibility for hydrogen export using our proprietary marine supply chain,” the company's managing director and CEO Martin Carolan said.
“The HyEnergy Project is being positioned to be the first export project of green hydrogen from a greenfield site in Western Australia.”
Key consultants engaged to conduct the feasibility study include:
- WSP as the project lead, responsible for the overarching technical and commercial assessment;
- ERM for environmental management with a focus on defining risks, constraints and the path to approvals; and
- Oropesa for the offshore terminal design and Gascoyne shipping operations.
Watch: Global Energy Ventures welcomes start of HyEnegery export feasibility study:
Study parameters
The HyExport Study will analyse the requirements for a fleet of GEV’s compressed ships, including the pilot-scale ship (430-tonne) for phased export volumes as well as the commercial-scale ship (2,000-tonne) over the long-term and at full scale of hydrogen production.
This analysis will be used to support and progress the company’s recent Approval in Principal from the American Bureau of Shipping.
WA renewable hydrogen fund
GEV will use funding support provided by the Western Australian Renewable Energy Fund (second round) to support external consulting costs. Under the financial assistance agreement, GEV will provide a knowledge sharing report to the WA Government for their review and public distribution at the completion of the study.
The scope of the project will include the integration of the HyEnergy Project’s proposed green hydrogen production facility with an onshore compression facility and offshore mooring and loading system, as well as the operation of a fleet of compressed hydrogen ships for marine transport to selected markets in the Asia Pacific region.
The basis of design will be directed by the initial findings of the HyEnergy Project’s ongoing Feasibility Study. GEV anticipates the HyExport Study will be completed in the June quarter of 2022.
About WSP
WSP is a leading engineering professional services consulting firm, bringing together approximately 54,000 talented people globally. They are technical experts who design and provide strategic advice on sustainable solutions, including more than 300 ports and maritime projects in over 65 countries over the last 10 years.
Particularly relevant for the HyEnergy project is their dedicated new energy, ports and maritime, and advisory specialists who are experienced in supporting clients in the new energy market in Australia and globally.
“It is very exciting to be supporting GEV, a company at the forefront of technical innovation in the emerging hydrogen industry in Australia,” WSP ports and maritime lead Simon Blake said.
About ERM
ERM is a sustainability consultancy company, partnering with the world’s leading organisations to create innovative solutions to sustainability challenges and identify commercial opportunities. They help clients plan, assess and deliver products by identifying and managing environmental, social and cultural impacts and risks throughout project life.
This company was appointed as leads approvals consultant for the HyEnergy Project by Province Resources in March 2021 and will identify environmental sensitivities, risks and constraints to define a path that will allow for the approval of transferring compressed hydrogen to an offshore loading system.
Oropesa
Oropesa provides maritime consultancy, operations and services management to the port sector for Australian industry and governments state and federal. Oropesa’s 20 years’ experience offers knowledge and focus on the use of leading edge technologies, delivering pragmatic, environmental and economic solutions.
Oropesa will use its capability in green field port design and optimisation to support the delivery of a safe, sustainable and reliable offshore loading terminal. According to GEV, Oropesa shares its vision for a ‘blue economy’ – an economy that prioritises the health of the ocean.