A recent report from Roland Berger notes that large-scale shipping solutions such as Compressed Hydrogen Shipping technology from Global Energy Ventures are critical to ensuring the success of the global green hydrogen economy.

As 2021 draws to a close, Global Energy Ventures (ASX: GEV) has positioned itself at the forefront of the burgeoning green hydrogen economy with its strategy of providing the ‘missing link’ by using its proprietary compressed hydrogen shipping technology.

The company’s compressed shipping supply chain solution was developed to enable the economical transport of green hydrogen from production sites to consumers where shipping is carried out over a regional distance of up to 4,000 miles. sailors.

COP26 reinforced the theme of developed countries of the world increasing their investments in renewable energy solutions with the aim of achieving net zero carbon goals, with green hydrogen becoming increasingly popular due to its ability to decarbonize energy-intensive industries that are difficult to reduce as well as the displacement of around 80Mt of gray hydrogen produced today which does not capture its carbon emission in the process

As the green hydrogen economy grows rapidly and investors clamor to bring projects online, Global Energy Ventures noted that a key element of the economy’s eventual success has been overlooked: transportation solutions. Simple and effective bulk green hydrogen from project sites to consumers around the world.

Growing demand for hydrogen

This situation arises in a context of increasing demand for energy which is expected to grow “significantly”.

Global consulting firm Roland Berger has published a report predicting that demand for clean hydrogen in Europe alone will exceed 45 million tonnes by 2050.

The report Hydrogen transport: the key to unlocking the clean hydrogen economy notes that many end uses like transportation, heating and heavy industry will likely turn to hydrogen as a viable green energy solution as the world decarbonizes.

“Clean hydrogen will become the cornerstone of energy transition and decarbonisation efforts around the world,” the report said.

Analyst Goldman Sachs expects clean hydrogen to have an addressable market of 10,000 billion euros (AU $ 15.6 trillion) by 2050.

Meanwhile, more than 30 countries have put in place hydrogen strategies with US $ 70 billion (AU $ 97.2 billion) in public funding already committed to the implementation of hydrogen technologies.

Wood Mackenzie predicts that global demand for low-carbon hydrogen will reach 530 Mt by 2050, of which approximately 150 Mt will be commercialized in the marine market.

The key to unlocking the hydrogen economy

With such a large wall of growing demand ahead, the report says large-scale transportation solutions for green hydrogen have been “forgotten” and are critical to its success.

The report points out that green hydrogen is mainly produced in remote areas rich in renewable energy.

However, the highest demand will come from highly industrialized and densely populated regions.

The need to be able to transport hydrogen from remote production areas to where it is needed is an “oversight” that needs to be “urgently addressed”.

“Global supply and demand centers will soon have to be connected to meet the growing demand for clean hydrogen – for example, steel production, but cost-effective hydrogen transport methods remain elusive,” the report says. .

The missing link ‘

Global Energy Ventures offers the “missing link” to ensure that hydrogen is transported from production sites to where it is needed in a simple and efficient compression process that is a proven technology, unlike others. carriers choosing to liquefy to minus 253 degrees or to reconvert the ammonia. to hydrogen by a process called “cracking”.

The company aims to build, own and operate the production, storage and shipping of green hydrogen around the world.

A scoping study published in March of this year found that Global Energy Ventures’ compressed shipping solution was economically competitive when modeled as a 100% green supply chain and compared to shipping liquefied hydrogen. or ammonia in volumes of 200,000 tonnes per year and over distances of up to 4,000 nautical miles

He also demonstrated that the approach to using compressed shipping technology had a smaller footprint by removing highly complex capital-intensive processes, allowing for a modular approach to development.

The proposed supply chain works by using renewable energies such as wind and solar power to generate green hydrogen, which would then be compressed and loaded onto one of Global Energy Ventures’ patented vessels.

The hydrogen is then transported in its compressed state to its destination where it is unloaded, decompressed and transported by pipeline or by truck to end users.

Construction decision early 2023

In order to use its technology to power the missing link in the global hydrogen supply chain, Global Energy Ventures is targeting a construction decision for its 430-tonne pilot vessel by early 2023.

The company has already obtained approvals in principle for its plans to design vessels of 430 t and over 2,000 t.

He expects his 430 t vessel to carry its first cargoes in 2026, with the largest 2,000 t vessel to be operational by 2030.

Green hydrogen project on Tiwi Island

To ensure it has clean hydrogen to ship, Global Energy Ventures is accelerating the development of its project on Tiwi Island north of Darwin in the Northern Territory.

By combining its compressed shipping solution and the Tiwi Island project, Global Energy Ventures plans to develop a fully integrated production and export supply chain that transports up to 100,000 tonnes of green hydrogen through year across the Asia-Pacific region.