Global Energy Ventures to expand compressed green hydrogen technology into Europe with new chief steering the ship

Global Energy Ventures compressed green hydrogen technology Europe ASX GEV Martin Carolan
Global Energy Ventures’ newly appointed managing director Martin Carolan says Europe is a key market for the company’s compressed hydrogen shipping technology.

Global Energy Ventures (ASX: GEV) has inked a memorandum of understanding with German-based ILF Beratend Ingenieure to identify and develop green hydrogen projects – paving the way for Global Energy Ventures to expand into Europe and cement its position in Australia.

Under the MoU with ILF, the companies will cooperate and explore green hydrogen opportunities in Australian and Europe using Global Energy Ventures’ compressed hydrogen C-H2 shipping and supply chain technology.

Global Energy Ventures managing director Martin Carolan said the company had identified Europe as a key market for the company’s C-H2 technology.

He noted the renewable energy sector in the region had been “growing at a rapid rate” for some years and that transport of green hydrogen using compression was “highly suitable” for the market given the short-to-medium distances to future demand centres such as Germany.

“The MoU with ILF will establish Global Energy Ventures’ launch into Europe with one of the world’s leading engineering firms with expertise in the design and implementation of green hydrogen projects.”

ILF hydrogen expertise

Global Energy Ventures says international engineering firm IFL has “expertise” along the full hydrogen value chain and has been “successfully executing technically demanding” industrial and infrastructure projects for more than 50 years.

The advantage ILF’s global network is it enables Global Energy Ventures to draw on international experts and leverage from their unique experience, processes and tools.

Global Energy Ventures pointed out hydrogen-related projects were “well-known” to ILF. Hydrogen projects are part of ILF’s pipeline, refinery and petrochemical plant division which has been operating for over 20 years.

Among ILF’s hydrogen projects is the Demo4Grid which is a 4MW electrolyser plant with hydrogen storage and truck fuelling station in Austria.

Another project was a feasibility study in Germany for a 40-100MW power-to-gas plant including electrolysis, methane, hydrogen pipeline and injection into the existing gas grid.

Other work comprises various compressor stations and ILF is now part of the AquaVentus consortium.

The company joined the consortium in 2020, which aims to develop up to 10GW production of green hydrogen on the German archipelago island of Helgoland and a 200km hydrogen pipeline for transport to the shore.

“ILF’s experience in hydrogen, strong reputation in project delivery and long-standing relationships will be beneficial to Global Energy Ventures in Europe while we will also look to ILF’s expertise across the value chain for hydrogen projects in Australia,” Mr Carolan added.

Europe presents large market opportunity

Europe is a key market for Global Energy Venture’s C-H2 technology.

The region is home to a “fast developing” hydrogen economy and leads the world in clean energy policy, along with incentive schemes, production centres, demand and environmental, sustainability and governance financing.

By 2030, the European Union’s goal is to have 40GW of its own green hydrogen production capacity and the potential for the import of another 40GW to meet net zero targets in 2050.

The region also houses large ports which can accommodate hydrogen unloading and storage facilities.

It also has other necessary infrastructure including a pipeline network, a high number of potential end-users and proximity to the North Sea where offshore wind can be harnessed to provide large amounts of cheap renewable electricity for green hydrogen production.

ILF business development manager Jens Kottsieper pointed out given Europe’s need for large quantities of hydrogen, there was a need for shipping capabilities.

“We are glad to be able to complement our pipeline and hydrogen expertise with Global Energy Ventures’ expertise in low-cost transport by ship.”

“The cooperation with Global Energy Ventures allows us to advise our customers even more comprehensively on their transport issues in order to develop a solution that fits their specific requirements,” Mr Kottsieper added.

Offshore opportunities

While Europe is the target market, Global Energy Ventures is evaluating offshore opportunities in proximity to the region including Europe and North Africa.

Under the MoU, it is proposed ILF will design the upstream infrastructure from the producer to the export or loading facility and downstream from the import or unloading facility to the consumer.

Global Energy Ventures will cover the port-to-port shipment of hydrogen using its C-H2 technology.

One opportunity being analysed is to is to look at near-shore locations where excess offshore floating wind capacity is available to transfer the renewable energy to shore in the form of green hydrogen.

Global Energy Ventures says advantages to this scenario include being able to size the C-H2 shipping fleet to meet the project’s scale. As a result, subsea pipelines aren’t required – subsequently reducing necessary permitting.

New chief steering Global Energy Ventures

As Global Energy Ventures gears up for European market penetration, executive director Martin Carolan has stepped into the role of managing director and chief executive officer.

Mr Carolan has replaced Maurice Brand who will remain on the board as non-executive chairman.

Other management changes include extending Garry Triglavcanin’s appointment as chief development officer for a further three years.

Meanwhile, financial controller Emma Connor will step into the chief financial officer role.

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