Global Energy Ventures announces development of world first compressed hydrogen ship to export ‘zero carbon’ energy
Global Energy Ventures Ltd has announced the following details on the development of a new compressed Hydrogen ship design (H2 Ship) to transport clean, renewable energy.
GEV is positioning as an early mover in the future of energy, leveraging its technical expertise in the engineering of marine pressure vessels to develop a compressed hydrogen ship for export and transport to customers demanding access to zero carbon energy, the company said in its release.
GEV’s H2 Ship will have a storage capacity of up to 2,000 tonnes (23 million m3) of compressed hydrogen. Smaller capacity ships will be evaluated by GEV for demonstration purposes based on specific pilot export projects.
The Company anticipates that detailed engineering will be lodged as part of the American Bureau of Shipping (ABS) Approval in Principle process in early 2021.
Hydrogen is a clean burning fuel that can be produced in several ways, including using renewable energy produced from solar, wind and hydro. Such hydrogen then needs to be transported to industries, providing them with green energy with zero carbon emissions.
Governments and major oil and gas companies are aligned to accelerate ‘net-zero carbon’ targets, withsignificant stimulus funding and capital expenditure being directed to hydrogen as the pillar for decarbonising the world’s heavy emitting industries.
Australia leads the world with a National Hydrogen Strategy that includes the establishment of ‘Hydrogen Hubs’ for production and export to the country’s major energy trading partners across the Asia Pacific region.•GEV will focus on Australian export projects, with several projects advancing through pilot phases and now looking to export markets.
Funding options from existing and newly announced Australian Government R&D programs are being assessed under the Federal Government commitment of A$1.9B to the development of renewable technologies.
ABOUT GLOBAL ENERGY VENTURES LTD
Global Energy Ventures Ltd was founded in 2017, with the Company’s mission to create shareholder value through the delivery of integrated marine pressure vessel solutions transporting energy to regional markets. The business model is to build, own and operate integrated energy transport projects for either natural gas or hydrogen. The primary focus is the development of integrated Compressed Natural Gas (CNG) marine transport solutions with the Company’s construction ready CNG Optimum ship. CNG is a well proven gas transport solution with design and commercial advantagesalong with being safe and a ‘lower emission’ solution for the transport of gas than in the form of liquified natural gas (LNG).With the world’s focus on Energy Transition gaining momentum, the Company has also introduced the world’s first Compressed H2 Ship that will support the transport of hydrogen as a green energy fuel of the future. Hydrogen’s role in the future energy mix will greatly assist governments and corporations with their respective ‘net-zero carbon’ targets through the decarbonisation of heavy emitting industries.