Global Energy Ventures progresses compressed hydrogen strategy in Europe and Western Australia
The HyEnergy joint venture partners are also evaluating Global Energy Ventures’ compressed green hydrogen supply chain solutions to export hydrogen from the WA-based project into Asian markets.
Global Energy Ventures’ (ASX: GEV) hydrogen strategy in Europe has progressed with the appointment of an energy infrastructure professional to focus on compressed hydrogen projects in the region.
This comes at a time when the Russian invasion of the Ukraine has highlighted Europe’s dependence on natural gas.
The dependence on liquefied natural gas (LNG) has accelerated interest in hydrogen as an alternative source.
To take advantage of mounting interest in Europe and forecast demand, Global Energy Ventures has appointed Mats Fagerberg as its business development advisor in the area.
Mr Fagerberg has more than 15 years’ experience in senior commercial roles developing new markets for small and mid-scale LNG supply chains, including bunkering, supply, terminals, distribution, power generation and ship broking.
European interest in compressed green hydrogen technology
Commenting on Mr Fagerberg’s appointment, Global Energy Ventures managing director and chief executive officer Martin Carolan said it was in response to increased interest in the company’s compressed green hydrogen supply chain technology in Europe.
“The appointment of Mr Fagerberg is the first step in the development of a commercial business unit to be based in Europe – a more mature end-user market in terms of scale and adoption.”
“Hydrogen will play a systemic role in the energy transition across Europe, with the European Commission forecasting hydrogen to represent 25% of the European Union’s total energy demand by 2050 supported by policies such as the European Green Deal to invest over 1 trillion euros in funding various clean energy and climate change initiatives.”
Mr Carolan noted that such demand warrant Mr Fagerberg’s appointment – particularly with his strong relationships and expertise in the region.
He said Mr Fagerberg will be based in Portugal, where hydrogen is central to the country’s net zero strategy.
Mr Fagerberg will work closely with Global Energy Ventures’ Rotterdam-based chief technical officer Per Roed, who is responsible for the company’s technical program and is advancing discussions in Europe with prospective partners.
To further service the European market and its compressed hydrogen strategy in the region, Global Energy Ventures will also open a corporate office in Norway in July.
HyEnergy green hydrogen project to advance
Global Energy Ventures progression in the European market comes at the same time Province Resources (ASX: PRL) and Total Eren revealed the HyEnergy green hydrogen project in Western Australia was progressing to pre-feasibility stage following a positive scoping study.
The parties are planning to develop the project in the Gascoyne region and the scoping study has confirmed the technical feasibility for an integrated green energy production operation using renewable wind and solar power in the area.
“The scoping study has helped further define the technical and other requirements for this project, allowing the commencement of more detailed work, which will inform the development,” Province managing director David Frances said.
He added the process has also shown there is “broad support for the HyEnergy project” from key stakeholders.
“Green hydrogen will play a significant role in enabling countries to meet their net zero by 2050 targets and the HyEnergy project can be a major contributor to global supply.”
Global Energy Ventures has a memorandum of understanding with Province and Total Eren that involves evaluating using its compressed hydrogen marine supply chain technology to export green hydrogen from HyEnergy to Asian markets.
Province noted this study was “progressing well”.