Global Energy Ventures Ltd (ASX:GEV) is set for a name change to better reflect its transition and growth into a developer of integrated renewable energy projects.
The company will be known as Provaris Energy Ltd trading under the ticker code PV1, with the intention of further focusing its efforts on production and transport of hydrogen using its innovative GH2 Carrier.
The move is subject to approval at a General Meeting scheduled on May 5, 2022.
Universal energy pursuit requires quick action
“Our new name is derived from a combination of Latin words that give rise to the ‘pursuit of the original or universal energy’, with hydrogen being the original or first element created,” GEV’s managing director and CEO Martin Carolan said. “It reflects our aim to be the first to market in the delivery of an integrated hydrogen supply chain.
“Our projects and IP that are now moving through development for approvals, provide the platform for a responsible and profitable producer and transport provider for sustainable green energy.
“We look forward to obtaining shareholder approval to change the company’s name to Provaris Energy Ltd and to becoming a leader in the energy transition.”
GEV believes it has the tools to assist in creating a lower emissions future that requires solutions that provide energy diversity and security of supply.
It is currently well-positioned to play a role in accelerating the production and delivery of new green energy sources worldwide, through acceptance for technical innovation that delivers green fuels, including hydrogen in a simple and efficient way.
It is the delivery of these solutions that act as drivers for long-term economic growth and decarbonise hard-to-abate sectors.