Global Energy Ventures Confirms HyExport Feasibility Study Underway

The HyExport feasibility study aims to demonstrate the technical and business benefits of using Global Energy Ventures’ compressed hydrogen shipping technology as the preferred export method.

Global Energy Ventures (ASX: GEV) is implementing its accelerated plans for compressed green hydrogen with a company confirming that the feasibility study for the HyEnergy (HyExport) export project is underway.

The study aims to demonstrate the “technical and commercial advantages” of compressed hydrogen as a preferred export method.

In the study, he assesses the green hydrogen supply to Province Resources (ASX: PRL) and Total Eren’s HyEnergy joint venture in the Gascoyne region of Western Australia.

The province’s HyEnergy project focuses on the development of an 8 gigawatt renewable power plant and downstream hydrogen plant.

HyExport feasibility study

As part of this, Global Energy Ventures is undertaking a feasibility study on using its own compressed hydrogen shipping and supply chain technology to transport the green hydrogen produced under the project.

The objectives of this study show both Province and Total Eren that Global Energy Venture’s compressed hydrogen shipping technology would be the best method to export their green hydrogen.

Global Energy Venture’s principal consultant, WSP, completed the design phase of the project, which included planning, checks and a delivery schedule.

This paves the way for the site integration project for the study, which will begin next month.

Global Energy Ventures noted that there are four work streams for the feasibility study, all of which are expected to be completed in the June quarter of next year.

Turner & Townsend was also responsible for assessing the workforce and job creation.

Global Energy Ventures says it is a key strategic driver for Western Australian government support as well as a critical component for the long-term planning of the large-scale project.

Overall, Global Energy Ventures hired four specialists to move the study forward: WSP, ERM, Oropesa and Turner & Townsend.

Gascoyne hydrogen pole

The HyEnergy development proposed by Province and Total Eren is part of the Gascoyne Technology and Innovation (GTIC) cluster.

The GTIC along with two other regional hydrogen clusters have secured support and funding from the federal government, states and members.

These public funds are intended to facilitate Australia’s energy transition.

In addition, under the Government of Western Australia’s Renewable Hydrogen Fund, Global Energy Ventures received a grant of $ 300,000.

“These new clusters are perfect for people living in Townsville, Gascoyne and the Midwest as they will help accelerate the development of the hydrogen industry by enabling essential connection, collaboration and alignment across Australia.” Said Federal Minister of Industry, Energy and Emissions Reduction, Angus Taylor.

“Fostering innovation and building capacity, especially in the Australian region, will help make Australia’s hydrogen supply chains the most attractive in the world,” he added.

Compressed hydrogen transport technology

In anticipation of the emergence of hydrogen-based energy solutions, Global Energy Ventures has developed its own compressed hydrogen shipping solutions.

The company has received approval in principle from the American Bureau of Shipping for its 430 t and 2000 t vessel design projects.

Over the coming year, the company will finalize the entire contract design to gain further ABS approvals to move into the construction phase of its ships.

Construction approval is expected in the first half of 2023.