Approvals process for compressed Hydrogen ship underway

November 4, 2020

Global Energy Ventures is pleased to provide the following update on the development of a new compressed Hydrogen ship (H2 Ship) to transport the zero-carbon fuel of the future.

HIGHLIGHTS:

Appointment of American Bureau of Shipping (ABS) to achieve Approval in Principle (AIP) for the proposed 2,000 tonne capacity (23 million m3) H2 Ship.
Capilano Maritime Design Ltd (Capilano) appointed as naval architects for the provision of marine engineering services to advance the design the H2 Ship.
Completion and receipt of ABS AIP is expected in the first half of 2021.
A successful outcome of AIP would demonstrate that there are no identified showstoppers that would prevent the ultimate classification of the vessel.
Following receipt of the AIP, engagement with selected shipyards will commence for an estimate of costs and schedule for construction.

GEV’s work program during the AIP phase will include:

Ship outline specification including the cargo containment and midship section.
Preliminary process analysis to load and unload the ship.
Preliminary HAZID analysis.
US Patent application and filing.

Maurice Brand, Executive Chairman & CEO commented: “The Company is very pleased to be working with ABS and Capilano again on the engineering and approvals for our new H2 Ship. Both groups worked with our marine engineering team for the CNG Optimum ship which successfully attained full design class approvals in early 2019. The successful delivery of Approval in Principle for the H2 Ship in the first half of 2021 will demonstrate there are no showstoppers to the proposed ship design and containment system for large scale marine transportation of compressed hydrogen.

GEV has been delighted with the response from shareholders since the design launch of our H2 Ship in October. The Company has received extensive enquiries from proposed hydrogen export projects and other participants in the development of the hydrogen supply chain, and we look forward to progressing discussions on the economics, logistics and potential collaborations in the coming quarters.”