Global Energy Ventures confirms HyExport feasibility study is underway
Russia’s war on the Ukraine has prompted the EU to accelerate its transition to clean energy and Global Energy Venture plans to be at the forefront of the region’s green hydrogen integrated supply chain.
Global Energy Ventures (ASX: GEV) is making good on its fast-tracked compressed green hydrogen plans with a company confirming the HyEnergy export project (HyExport) feasibility study was underway.
The study aims to demonstrate the “technical and commercial advantages” of compressed hydrogen as a preferred export method.
In the study, it is evaluating sourcing green hydrogen from Province Resources’ (ASX: PRL) and Total Eren’s HyEnergy joint venture in Western Australia’s Gascoyne region.
Province’s HyEnergy project is focused on developing an 8 gigawatt renewable power facility and downstream hydrogen plant.
HyExport feasibility study
As part of this, Global Energy Ventures is undertaking a feasibility study into using its own compressed hydrogen shipping and supply chain technology to transport the green hydrogen produced at the project.
This study aims show both Province and Total Eren that Global Energy Venture’s compressed hydrogen shipping technology would be the best method for exporting their green hydrogen.
Global Energy Venture’s lead consultant WSP has completed the project design phase, which comprised planning, controls and a delivery schedule.
This paves the way for the facilities integration workstream for the study to begin next month.
Global Energy Ventures noted there are four work streams for the feasibility study, which are all due to be completed in the June quarter of next year.
Turner & Townsend has also been appointed with the task of evaluating labour workforces and job creation.
Global Energy Ventures says this is a key strategic driver for Western Australian Government support as well as a critical element for long-lead planning of the project at a mega scale.
All up, Global Energy Ventures has engaged four specialists to progress the study – WSP, ERM, Oropesa and Turner & Townsend.
Gascoyne hydrogen cluster
Province’s and Total Eren’s proposed HyEnergy development is part of the wider Gascoyne Technology and Innovation Cluster (GTIC).
GTIC along with two other regional hydrogen clusters have secured federal, state and membership support and funding assistance.
These government proceeds are designed to facilitate Australia’s energy transition.
Additionally, under the WA Government’s Renewable Hydrogen Fund, Global Energy Ventures has secured a $300,000 grant.
“These new clusters are great for the people of Townsville, Gascoyne and Midwest regions as they will help accelerate hydrogen industry development by enabling vital connection, collaboration, and alignment across Australia,” Federal Minister for Industry, Energy and Emissions Reduction Angus Taylor said.
“Encouraging innovation, and building capabilities, particularly in regional Australia, will help make Australian hydrogen supply chains the most attractive in the world,” he added.
Compressed hydrogen shipping technology
In readiness for the emergence of hydrogen energy solutions, Global Energy Ventures has developed its proprietary compressed hydrogen shipping solutions.
The company has received American Bureau of Shipping approval in principle for its proposed 430t and 2,000t ship designs.
Over the coming year, the company will finalise the contract design package to secure further ABS approvals to proceed to the construction phase of its ships.
Construction approval is expected in the first half of 2023.