Global Energy Ventures (ASX: GEV) has signed a memorandum of understanding with the German company ILF Beratend Ingenieure to identify and develop green hydrogen projects – paving the way for Global Energy Ventures to develop in Europe and consolidate its position in Australia.
Under the MoU with ILF, companies will cooperate and explore green hydrogen opportunities in Australia and Europe using C-H2 compressed hydrogen shipping and supply technology from Global Energy Ventures .
Global Energy Ventures chief executive Martin Carolan said the company has identified Europe as a key market for the company’s C-H2 technology.
He noted that the renewable energy sector in the region has been “growing at a rapid rate” for the past few years and that transporting green hydrogen by compression was “perfectly suited” to the market given the short to medium distances of future centers. demand such as like Germany.
“The MoU with ILF will establish the launch of Global Energy Ventures in Europe with one of the world’s largest engineering companies 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 entire hydrogen value chain and has’ been successfully executing technically demanding industrial and infrastructure projects for over 50 years. years.
The advantage of ILF’s global network is that it allows Global Energy Ventures to rely on international experts and leverage their unique experience, processes and tools.
Global Energy Ventures pointed out that hydrogen-related projects were “well known” to the ILF. Hydrogen projects are part of ILF’s pipelines, refineries and petrochemicals division, which has been in operation for over 20 years.
Among ILF’s hydrogen projects is the Demo4Grid, a 4 MW electrolyzer plant with hydrogen storage and refueling station for trucks in Austria.
Another project was a feasibility study in Germany for a 40-100 MW power-to-gas plant comprising electrolysis, methane, hydrogen pipeline and injection into the existing gas network.
Further work includes 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 10 GW of green hydrogen production on the island of the German archipelago of Helgoland and a 200 km hydrogen pipeline for transportation to shore. .
“ILF’s hydrogen experience, solid reputation in delivering projects and long-standing relationships will benefit Global Energy Ventures in Europe, while we will also look to the expertise of ILF throughout the value chain for hydrogen projects in Australia, ”added Carolan.
Europe presents a great market opportunity
Europe is a key market for Global Energy Venture’s C-H2 technology.
The region is home to a ‘rapidly developing’ hydrogen economy and leads the world in clean energy policy, with incentive programs, production centers, demand and environment, sustainability and funding governance.
By 2030, the European Union’s target is to have 40 GW of its own green hydrogen production capacity and the potential to import an additional 40 GW to meet the net zero targets by 2050.
The region is also home to large ports that 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 tapped to provide large amounts of good renewable electricity. market for the production of green hydrogen.
Jens Kottsieper, ILF Business Development Director, pointed out that given Europe’s need for large quantities of hydrogen, there was a need for shipping capabilities.
“We are pleased to be able to complement our pipeline and hydrogen expertise with Global Energy Ventures’ expertise in low cost ship transportation.”
“The cooperation with Global Energy Ventures allows us to advise our customers in an even more comprehensive way on their transport issues in order to develop a solution adapted to their specific needs,” added Mr. Kottsieper.
While Europe is the target market, Global Energy Ventures assesses offshore opportunities near the region, including Europe and North Africa.
As part of the MoU, it is proposed that the ILF design the infrastructure upstream from the producer to the export or loading facility and downstream from the import or unload facility to the consumer.
Global Energy Ventures will cover port-to-port hydrogen shipping using its C-H2 technology.
One analyzed opportunity is to examine near shore locations where excess floating offshore wind capacity is available to transfer renewable energy to shore in the form of green hydrogen.
Global Energy Ventures says the benefits of this scenario include the ability to size the C-H2 fleet of vessels to match the scale of the project. As a result, submarine pipelines are not needed, which subsequently reduces the necessary permits.
New Managing Director of Global Energy Ventures
As Global Energy Ventures prepares to enter the European market, Executive Director Martin Carolan has become Managing Director and CEO.
Mr. Carolan replaced Maurice Brand who will remain on the board as non-executive chairman.
Other leadership changes include the extension of Garry Triglavcanin’s appointment as Director of Development for an additional three years.
Meanwhile, Financial Controller Emma Connor will take on the role of Chief Financial Officer.