Home Offshore Energy MOU signed with Pacific Hydro for export of green hydrogen

MOU signed with Pacific Hydro for export of green hydrogen

Global Energy Ventures Ltd (ASX: GEV, the Company), is pleased to provide an update on the development of a new compressed hydrogen ship (C-H2 Ship) and supply chain to transport the zero-carbon fuel of the future.  

HIGHLIGHTS:

  • GEV and Pacific Hydro Australia Developments Pty Ltd (Pacific Hydro) have executed a Memorandum of Understanding (MOU) to explore opportunities regarding the production, storage, loading, ground and marine transportation of green hydrogen produced by Pacific Hydro’s Ord Hydrogen Project.
  • Both parties will work collaboratively on developing an export market and associated marine transport solution for green hydrogen utilising GEV’s proprietary C-H2 ship and supply chain.
  • Pacific Hydro operate the Ord Hydro Plant, located at Lake Argyle, Western Australia, which has the capacity to supply 30MW of renewable power to the local market.
  • Pacific Hydro has completed a feasibility study utilising electricity generated by the Ord Hydro Plant to produce green hydrogen via the process of electrolysis, and market offtake to domestic and future export markets.
  • The location provides a unique opportunity for hydrogen production, utilising low cost, high availability, dispatchable renewable generation and abundant access to water.
  • The Ord Hydrogen Project has received funding support from the Western Australia Renewable Hydrogen Fund.
  • The Ord Hydrogen Project is located near two ports in northern Australia with export potential for green hydrogen to Asian markets .
Martin Carolan, Executive Director commented​: “GEV is delighted to enter into this MOU with Pacific Hydro given its long-term success in operating a renewable energy business that is backed by a shareholder group with a global focus on renewable energy. The proposal to locate a green hydrogen facility in the East Kimberley powered by the Ord Hydro Plant can advance the development of one of Australia’s first green hydrogen operations that is ideally located in the North West of WA, in proximity to two ports that will be studied for future export of green hydrogen to nearby Asian markets.
The Company looks forward to providing regular updates as the MOU progresses through the course of 2021.