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Energy transport provider Global Energy Ventures (ASX: GEV) is grabbing a foothold in the growing European green hydrogen market, inking an MoU with German engineering firm ILF.

Amid a growing push from economies in Western Europe to meet their carbon emissions targets over the coming decades, as much as 85 per cent of the world’s proposed green hydrogen projects are in Europe.

The MoU is valid until at least the end of 2022 and would see the German engineers and GEV work in tandem to assess green hydrogen projects in both Europe and GEV’s native Australia using GEV’s proposed fuel cell-powered C-H2 shipping technology.

GEV recently received in principle approval for the compressed hydrogen containment system on its C-H2 vessel design from the American Bureau of Shipping.

Global Energy Ventures targets the European green hydrogen market with MoU