Global Energy Ventures (ASX: GEV) has inked a memorandum of understanding with German-based ILF Beratend Ingenieure to identify and develop green hydrogen projects – paving the way for Global Energy Ventures to expand into Europe and cement its position in Australia.
Under the MoU with ILF, the companies will cooperate and explore green hydrogen opportunities in Australian and Europe using Global Energy Ventures’ compressed hydrogen C-H2 shipping and supply chain technology.
Global Energy Ventures managing director Martin Carolan said the company had identified Europe as a key market for the company’s C-H2 technology.
He noted the renewable energy sector in the region had been “growing at a rapid rate” for some years and that transport of green hydrogen using compression was “highly suitable” for the market given the short-to-medium distances to future demand centres such as Germany.
“The MoU with ILF will establish Global Energy Ventures’ launch into Europe with one of the world’s leading engineering firms with expertise in the design and implementation of green hydrogen projects.”