Integrated green hydrogen development company, Global Energy Ventures Ltd (ASX: GEV, the Company) is pleased to provide an update on the HyEnergyTM Export Feasibility Study (HyExport Study). The objective is to demonstrate the technical and commercial advantages of compressed hydrogen as a preferred export carrier.

HYEXPORT STUDY PROGRESS

WSP, in its role as project lead for the overarching technical and commercial assessment, has completed the project design phase (project plan, controls and delivery schedule) and will commence the facilities integration workstream in January 2022. There are four workstreams in total, with completion scheduled for the June quarter of 2022.

GEV has also made an additional appointment of Turner & Townsend to evaluate labour workforces and job creation, being both a key strategic driver for the WA Government and a critical element for the long-lead planning of a mega scale project.

The HyExport Study team consists of consultant specialists: WSP, ERM, Oropesa and Turner & Townsend.

WA GOVERNMENT FUNDING

Notice: This Project receives funding from the Renewable Hydrogen Fund as part of the Western Australian Government’s Renewable Hydrogen Strategy. For further information visit wa.gov.au/renewablehydrogen

Subsequent to the Company’s ASX release on 7 October 2021, GEV and the WA Government have executed the Financial Assistance Agreement, being the legal contract which records the terms and conditions upon which the approved grant will be provided by the Minister to GEV.

The $300,000 grant is to be paid in tranches at the completion of specific study milestones, with GEV to submit its first milestone report in December. GEV looks forward to strengthening its relationship with WA Government and leveraging the lessons learned from this process to apply for additional state and federal funding rounds.

GASCOYNE HYDROGEN CLUSTER

On 3 December, the Gascoyne Technology and Innovation Cluster (GTIC) was announced, being one of three new regional hydrogen clusters that will operate across a national network established by NERA, a federally funded NFP working to support Australia’s energy transition. The application process was led by Province Resources (ASX:PRL) with the assistance and support of project and community stakeholders.

Hon Angus Minister MP, Minister for Industry, Energy and Emissions Reduction: “These new clusters are great for the people of Townsville, Gascoyne and the Midwest regions as they will help accelerate hydrogen industry development by enabling vital connection, collaboration, and alignment of action across Australia. Encouraging innovation, and building capabilities, particularly in regional Australia, will help make Australian hydrogen supply chains the most attractive in the world.” 1

GTIC has secured federal, state and membership funding and will deploy the funds to support hydrogen technologies and innovation that enhance the Gascoyne’s hydrogen offering as a producer, user and exporte