Global Energy Ventures welcomes progress on multiple fronts at HyEnergy green hydrogen project

Global Energy Ventures Ltd (ASX:GEV) has welcomed Province Resources Ltd’s progress across the HyEnergy Project, an exploration asset that could one day form a renewable green hydrogen play in Western Australia. Earlier this week, Global Energy inked an MoU with Province and Total Eren to undertake a feasibility study on the export of green hydrogen from the proposed plant. In today’s ASX announcement, Province maintained work at the zero-carbon hydrogen project was “forging ahead on multiple fronts”, with scoping study data collection and conversations with the state government proceeding as planned. Looking ahead, heritage, ecological, environmental and geotechnical studies will kick off shortly, while recruitment, onboarding and offtake negotiations are poised to continue. Transition to green energy Speaking to the progress made to date, Province Resources CEO David Frances said the HyEnergy partners were at the forefront of the emerging green hydrogen industry. “The opportunity that presents itself is huge, and we have been overwhelmed with the support we have received from the State Government, the Shire of Carnarvon, Traditional Owners and other key regional stakeholders. “Globally we have seen more and more hydrogen projects being announced. “Key market pricing predictions and technology developments at all stages of the value chain indicate this transition to green energy is happening even more rapidly than we anticipated. “Over the past four months, the partners have been constantly working with government at all levels and other stakeholders to set the framework within which this industry will develop into a key part of the Western Australian economy. “The HyEnergy partners, as first movers on the ASX in this space, are uniquely positioned to lead this industry as it moves from its current nascent position into a key part of the state’s economy.” Working with government bodies Since March, Province has collected data to inform a scoping study on the proposed green hydrogen play. In concert with the data collection, the HyEnergy partners have worked to model the project’s Phase 1 development stage, considering the expected green hydrogen market price and cost of production involved with various sized projects. HyEnergy’s partners are also working closely with State Government departments as the legislature starts to firm up surrounding green hydrogen’s role as a key future industry in WA. This includes working closely with the state government to secure Lead Agency Status, which will help facilitate progress across the project’s environmental and other permitting requirements. At the local government level, the HyEnergy partners have secured the support of the Shire of Carnarvon, entering an MoU to investigate the use of a 12,311-hectare site north of the Carnarvon township as a suitable site for developing infrastructure as part of the HyEnergy Project. Future-focused activity In the meantime, Province continues to recruit and onboard key management personnel and subject matter experts in preparation for the feasibility studies. Recently, it appointed government and public affairs professional Roger Martin, who previously served at Woodside and as Ben Wyatt’s former chief of staff, as a non-executive director. As part of the scoping study and future feasibility studies, the partners are exploring various export options. Under the MoU with Global Energy, the upcoming feasibility studies will consider the export of green hydrogen from the HyEnergy Project using GEV’s compressed hydrogen marine supply chain. In addition, discussions have commenced with a number of potential domestic offtakers, including the transport and utility sectors, although this will soon be expanded to include international parties. Commenting on the technical studies, Frances continued: “The HyEnergy partners MoU runs for a 12-month period from April of this year, however, it is the partners’ intention to have a scoping study completed, definitive agreements executed and the feasibility studies advanced well within this time period. “The scoping study, which forms one of many activity streams currently being undertaken by the HyEnergy partners, is proceeding extremely well because of the active collaboration between the HyEnergy partners and their external consultants. “The company looks forward to updating shareholders regularly with respect to the developments with government and other stakeholders, the scoping study, feasibility studies and offtake discussions.”