Aussie hydrogen transport company to plug hole in market

Aussie hydrogen transport company to plug hole in market

Date of Report: Market close on Tuesday, 1st February 2022
ASX: GEVPrice: A$0.100

52 Week Range: $0.060 - $0.165

Market Cap: $53.85 million

Sector: Energy

Every second week we invite a leading fund manager to present at The Insider: Meet the Fund Manager. Last September, Robert Calnon, from OC Funds Management, selected Global Energy Ventures as one of his three favourite stocks, looking to tap into the global green energy transition thematic.

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Hydrogen power has emerged as a frontrunner in the race to replace traditional energy sources, but difficulties in transporting this emission-free fuel source have created challenges and opportunities for the market.

While coal, oil and natural gas are shipped around the world in large ships, Global Energy Ventures CEO Martin Carolan said the hydrogen market currently lacks any form of sea-borne market.

Looking to plug this gap in the supply chain, his company has developed its own container ship capable of moving large quantities of compressed hydrogen across the sea to end users around the world.

Mr Carolan said these ships should be operational from the middle of this decade, allowing hydrogen producers in Australia – including Global Energy Ventures’ own Tiwi Green Hydrogen Project in the nation’s north – to ship their product globally.

As nations and corporations make greater commitments to reducing their carbon footprints in the years ahead, demand for hydrogen has surged – and Global Energy Ventures plans to capture this growth with its innovative ship design.

“Latest figures are that 150 million tonnes [of hydrogen] will be traded on the sea-borne market over the next 30 years, starting from zero [tonnes],” Mr Carolan said.

“That’s a wonderful market opportunity.”

Rob Calnon, from OC Funds Management, agrees. Last September, he told Reach Markets subscribers that Global Energy Ventures represented an interesting way to gain exposure to the hydrogen thematic.

“Over the past 12-18 months, hydrogen has really come out of the pack as one way that we can decarbonise the global economy, and there’s a lot of capital available for businesses that have a hydrogen solution,” he said.

“If you think about a hydrogen production project, GEV is providing the transport and storage to get from point A to point B. These are the guys that are providing that solution.”

Mr Calnon added that hydrogen projects like those Global Energy Ventures operate and partner with – particularly ‘green’ hydrogen projects where the fuel is manufactured using renewable sources – have become a staple of many ESG investors’ portfolios lately.

Click here to view more videos from Robert Calnon’s Meet the Fund Manager’ session, or click here to view the full ‘The Insider: Meet the CEOs’ session.

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The CEOs of all the companies chosen as Fund Manager favourite stocks are invited to present at our Meet the CEO series. Reach does not assume responsibility for the accuracy or completeness of any information provided, and the views expressed are not reflective of Reach Markets position.
Any advice contained within this presentation is general advice and does not consider your personal circumstance, you should consider whether it’s appropriate for you.
The information we are giving you is for educational purposes only. “Investing is about understanding your risk” and every time you invest in the share market there is a risk of loss.