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Global Energy Ventures (ASX:GEV) - CEO & Chairman, Maurice Brand
CEO & Chairman, Maurice Brand
Source: Business News
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  • Global Energy Ventures (GEV) has received approval in principle from the American Bureau of Shipping (ABS) for its C-H2 Ship containment system, based on a cargo capacity of 2000 tonnes of hydrogen
  • The WA-based company transports energy to regional markets by delivering integrated compressed shipping solutions
  • An engineering review by the ABS confirmed that the ship could meet high safety standards required by shipping classification societies
  • In addition, the ABS conducted extensive hazard identification scenarios, which identified no unresolvable or unmitigable risks that would prevent further development
  • GEV will now progress to final detailed engineering design and testing to obtain full class approval
  • The company is advancing commercial and technical discussions for the development of its C-H2 supply chain
  • Global Energy Ventures shares are up 2.04 per cent, trading at 10 cents each

Global Energy Ventures (GEV) has received approval in principle (AIP) from the American Bureau of Shipping (ABS) for its C-H2 Ship containment system, based on a cargo capacity of 2000 tonnes of hydrogen.

The Western Australia-based company targets transporting energy to regional markets through the delivery of integrated compressed shipping solutions.

According to GEV, its hydrogen containment system, which has a patent pending, is the most critical component of its C-H2 Ship.

An engineering review by the ABS confirmed that the ship is able to meet stringent safety standards required by shipping classification societies.

In addition, the Bureau assessed the vessel in extensive hazard identification scenarios and concluded that there were no unresolvable or unmitigable risks identified during testing that would prevent further successful development of the design.

Global Energy Ventures Executive Chairman and CEO Maurice Brand said achieving AIP was a critical milestone in the ship’s development.

“This has been the result of significant effort by the company’s management team, lead by Martin Carolan, and GEV’s technical and engineering team in Canada,” he said.

“The team delivered this critical milestone several months ahead of schedule and under budget. The board is delighted with the outcome,” Maurice added.

GEV Executive Director and Head of Hydrogen, Martin Carolan, echoed the CEO’s comments.

“This unique compressed hydrogen containment system provides a low-cost solution for the marine transportation and export of large volumes of hydrogen,” he said.

“The receipt of AIP and the accompanying roadmap to full class approval has materially de-risked the path forward technically and commercially,” Martin continued.

GEV is now in discussions to evaluate the C-H2 supply chain for future hydrogen export projects.

Concurrently, the company is in the process of identifying suitable sites to develop its own pilot-scale renewable green hydrogen project for a fully integrated green C-H2 supply chain.

Global Energy Ventures shares are up 2.04 per cent, trading at 10 cents at 10:06 am AEDT.

GEV by the numbers
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