Global Energy Ventures Ltd (ASX:GEV), an integrated green hydrogen development company, has released an update on its HyEnergy Export Feasibility Study.
Its lead consulting partner, WSP, has completed the project design and will kick off the facilities integration workstream in January 2022. This is the first of four workstreams the company needs to complete.
The study’s objective is to demonstrate the technical and commercial advantages of compressed hydrogen as a preferred export carrier.
GEV has commissioned a number of consultant specialists to join the project team, including WSP, ERM, Oropesa and Turner & Townsend.
Turner & Townsend will evaluate labour workforces and job creation, which are key strategic drivers for the WA Government and a critical element for the long-lead planning of a mega-scale project.
WA Government funding
The project will receive funding from the Renewable Hydrogen Fund as part of the Western Australian Government’s Renewable Hydrogen Strategy.
A $300,000 grant is to be paid in tranches at the end of each study milestone, with GEV to submit its first milestone report in December.
The company hopes to leverage the lessons learned from this process to apply for additional state and federal funding rounds.
This project is scheduled to wind up in the June quarter of 2022.
Gascoyne hydrogen cluster
The project will support the Gascoyne Technology and Innovation Cluster (GTIC), one of three new regional hydrogen clusters that will operate across a national network established by NERA, a federally funded NFP working to support Australia’s energy transition.
“These new clusters will help accelerate hydrogen industry development by enabling vital connection, collaboration, and alignment of action across Australia," Angus Taylor, Federal Minister for Industry, Energy and Emissions Reduction, said at the GTIC’s opening on December 3.
“Encouraging innovation and building capabilities, particularly in regional Australia, will help make Australian hydrogen supply chains the most attractive in the world.”
The GTIC has secured federal, state and membership funding and will deploy the funds to support hydrogen technologies and innovation that enhance the Gascoyne’s hydrogen offering as a producer, user and exporter.
About Global Energy Ventures
GEV is an energy transition company that aims to deliver compressed shipping solutions for transporting energy to regional markets.
Its business model is to build, own and operate the production, storage and shipping of natural gas and green hydrogen.
In 2020, GEV introduced the world’s first large-scale compressed hydrogen ship and positioned the company as an early mover to fast track the marine transport of hydrogen.
GEV’s track record in developing compressed gas carriers through to final construction approval is bolstered by its compressed hydrogen ship, which it engineered and designed.
The company proves that the simplicity and energy efficiency of its shipping solution is ideally suited for exporting hydrogen over medium distances - from Australia to the Asia-Pacific region, for example - providing a lower delivered cost and eliminating the technical barriers of other transport alternatives.