25 Nov

AGM Presentation 2021

AGM Presentation 25 November 2021 ASX.GEV Green Hydrogen Projects for the E nergy T ransition Compression | Simplicity | Efficiency www.gev.com 2 Important Notice and Disclaimer This presentation and these materials (together the “Presentation”) have been prepared by Global Energy Ventures Limited ABN 53 109 213 470 (ASX:GEV) (“GEV”) as a summary of GEV’s operations and results for the purposes of a presentation to existing or potential in ves tors in GEV. By participating in this Presentation or reviewing or retaining these materials, you acknowledge and represent that you have rea d, understood and accepted the terms of this Important Notice and Disclaimer. This Presentation should be read in conjunction with GEV’s 30 June 2021 Annual Report lodged with the Australian Securities E xch ange (“ASX”) on 26 August 2021 and other periodic and continuous disclosure announcements that have been lodged by GEV with the ASX. This Presentation may contain forward looking statements concerning projected costs, approval timelines, construction timelin es, earnings, revenue, growth, outlook or other matters (“Projections”). Any such Projections are based on assumptions which may differ materially fro m the actual circumstances which may arise and actual results may vary materially from Projections. You should not place undue reliance o n a ny Projections, which are based only on current expectations and the information available to GEV. The expectations reflected in such Projections are currently considered by GEV to be reasonable, but they may be affected by a range of variables that could cause actual results or trends to differ ma terially, including but not limited to: price and currency fluctuations, the ability to obtain reliable gas or hydrogen supply, gas reserve estimates , t he ability to locate markets for CNG or hydrogen, fluctuations in gas and hydrogen prices, project site latent conditions, approvals and cost esti mat es, development progress, operating results, legislative, fiscal and regulatory developments, and economic and financial markets conditions, inc luding availability of financing. GEV undertakes no obligation to update any Projections for events or circumstances that occur subsequent to the date of this Pre sentation or to keep current any of the information provided, except to the extent required by law. 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This presentation was authorised by the Managing Director for release on 25 November 2021 3 2021 has been a transformational year to reposition GEV as a genuine hydrogen company Hydrogen Shipping > Achieved ‘Approval in Principle’ from ABS for two compressed hydrogen ship designs > US patent application for novel design > Partnerships with Wartsila & Ballard for propulsion systems > Advanced ship engineering to attain confidence of global partners > ‘Approval for Construction’ program underway CNG Projects > Reduced focus in 2021 to maintain bankable opportunities only and redeploy company resources to value accretive activity > Energy majors’ focus on decarbonisation has made decisions to commit for 15 - 20 year terms on new CNG vessels more challenging > CNG business case still relevant to the energy transition in regions that can monetise low - cost gas while markets develop renewable/green fuel alternatives Funding > $ 6.3M placement in March 2021 > WA Government Renewable Hydrogen Fund for the HyEnergy Project Feasibility > $ 12M Placement and SPP in Nov/Dec 2021 > Increasing Federal & State grant funding rounds available for hydrogen projects & R&D > Strong cash position ~$ 16M at year end 2021 Hydrogen Projects > Commenced marketing compressed hydrogen supply chain following Scoping Study in March 2021 > HyEnergy Project announced in August 2021 > Tiwi Hydrogen Export Project announced October 2021 > Screening continues for GEV’s Midstream Hydrogen Transport solution globally > Additional upstream projects to be assessed to increase ownership of hydrogen production Value delivered > Share price range of $0.08 in Nov 2020 to recent highs of $0.16 in Nov 2021 > Institutional and HNW investors are joining the register with liquidity improving > Large - scale storage and transport required to make hydrogen economy viable > GEV positioned to achieve ‘first - mover status’ and deliver the “missing link” for a global hydrogen economy Board & Management > Calibre of two Board appointments reflects the progress and potential of GEV > Internal development of key management appointments > Balance of skills and experience for project development & shipping to manage costs > Maintain a small team approach to focus on value Clear pathway to become a hydrogen company by leveraging our compressed shipping IP GEV is implementing three strategies to create value for shareholders through our development of projects with a focus on ‘simplicity and efficiency’ Upstream Hydrogen Production > Natural extension to integrate with midstream IP > Development of green hydrogen export projects for regional export markets using compression > 2.8 GW Tiwi Green Hydrogen Export Project announced in October 2021 > Closest export port location to Asian markets > Brownfield development opportunity, no native title, low environmental impact > Land owner and NT Government support > Phased development to benefit from ongoing capex/ opex cost reductions & growth in offtake markets > GEV will actively seek additional projects where compression is the logical and competitive alternative Midstream CNG Transport > CNG as a transport solution remains relevant given the positive outlook for gas demand and pricing in the transition to green fuels > Collaboration with energy majors seeking a low cost, low emission natural gas transport solution > CNG Optimum ship fully approved for construction > Lowers capex for new projects, reducing time to first gas, maximizing flexibility and facilitating carbon sequestration > Efficiency of CNG delivers material reduction in emissions compared with LNG supply chain 4 Midstream Hydrogen Transport > Collaboration with world - class green hydrogen developers seeking a regional shipping solution > Approvals for construction by 2023 > HyEnergy Project announced in August 2021 > Large - scale 8 GW Project > Located on the Gascoyne Coastline, WA > Partner includes global energy major with access to customers > GEV supported by WA Government funding for its feasibility > Screening continues on a global portfolio of opportunities that are suitable for compressed hydrogen transport with bankable partners 5 3 si mple s teps for a ‘pipe to pipe’ hydrogen supply chain > Proven application of compression to deliver Hydrogen at a competitive cost > Commercial at low volumes – does not require economy of scale > Small footprint compared to hydrogen liquefaction and/or ammonia facilities > Loading via onshore berth facilities or off shore buoy systems > Modular development aligns with market growth 1. COMPRESS / LOAD Hydrogen gas from the electrolyser to 250 bar operating pressure of the ship 2. STORE / TRANSPORT In its pure gas form , using electric drive propulsion powered by on - board fuel cells 3. UNLOAD / DECOMPRESS Deliver into a grid/pipeline using the ship’s pressure, with minor scavenging to drawdown pressure Advantages of compression Compression provides a simple and energy efficient supply chain for green hydrogen Compress ed Hydrogen Supply Chain Hydrogen market set for remarkable growth through to 2050 6 Green H2 production Hydrogen uses 0 200 400 600 800 2020 2030 2040 2050 Steel production Shipping Road transport Refineries Power generation Plastics Personal transport Other Heating and cooking Fertilizer Aviation Industry demand forecasts driven by government policy and incentives > Green Hydrogen is a clean molecule to decarbonise heavy emitting industries > +30 countries established hydrogen strategies > USD 70 billion in public funding committed > Net - zero climate targets being legislated by governments and mandated by corporates > Falling costs of renewables and hydrogen technologies to make green hydrogen cost competitive by 2030 > Timing and pricing of carbon will assist with economics > Development of efficient methods of storage and transport remains key Source: Rystad Energy HydrogenCube – high case scenario Mt “A once - in - a - generation opportunity could give rise to a €10 trillion addressable market globally by 2050.” – - Goldman Sachs, February 2021 ^ International Renewable Energy Agency (IRENA) 7 Opportunity for GEV to be a market leader “Low - carbon hydrogen demand reaches as much as 530 million tonnes (Mt) by 2050, with almost 150 Mt of that traded on the seaborne market, starting from zero today.” Wood Mackenzie, October 2021 > Marine industry will need significant investment in supply chains to transport equivalent energy as hydrogen > Only one demonstration ship (pending sea - trials) designed for liquefied hydrogen, built by Kawasaki Heavy Industries (80 - ton capacity) > Two ship yards with Approval in Principle for liquefaction storage design at scale > GEV targeting first operations mid - 2020 ' s for pilot scale ship (430 - ton capacity) ^ Clarksons Platou Research; GEV estimates 2,193 tankers transporting petroleum NOW: FOSSIL FUELS Thousands of ships moving natural gas, oil & coal 2030 HYDROGEN GEV targeting first operations mid - 2020 ' s 637 carriers transporting natural gas 100s dry bulk carriers transporting coal 8 Global pipeline of opportunities being screened with bankable partners Development of a portfolio of projects to position compression as the preferred solution for regional energy transport > First Compressed Hydrogen Feasibility announced with HyEnergy Project, WA for markets into Asia > Announced GEV’s own green hydrogen production and export project – Tiwi Green Hydrogen Export Project > Screening continues on collaborations for hydrogen projects for delivery into regional markets globally Green H2 Supply Regions Under Review Hydrogen Demand Hubs Under Review Announced Compressed Hydrogen Project Australia Japan South Korea Germany Iceland Morocco Portugal Singapore Indonesia Egypt Canada France TIWI H2 Launch of the Tiwi Hydrogen Project is a game - changer for GEV > Located along the northern most part of Australia, providing a shorter regional shipping distance to the emerging hydrogen markets in Asia. > Scalable nature of compression allows a staged approach to construction, with an initial development phase of ~0.5 GW of installed solar generation, expanding to 2.8 GW as the regional hydrogen market grows > Staged construction allows GEV and customers to benefit from the ongoing cost and efficiency improvements in photovoltaics, electrolysers and shipping > Demonstrates the unique benefits of GEV’s compressed hydrogen shipping solution > Enables GEV to take control of the timelines for the commercialisation of our compressed shipping IP 9 Tiwi Hydrogen Project Supply Chain GEV acknowledges that its proposed Tiwi Islands Green Hydrogen Export Project is located on the traditional lands of the Munupi people . It is a privilege to have the support and such a close working relationship with the Tiwi Land Council and Munupi Landowners . 9 2.8 GW green hydrogen export project, Tiwi Islands, NT > Staged approach to construction, with an initial development phase of ~0.5 GW of installed solar generation > Integrated with compressed hydrogen shipping provides an efficient ‘pipe to pipe’ export demonstration project > Support of the Northern Territory Government and Munupi land owners > Feasibility to get underway for a FID decision in 2023 and first export in 2026 STRATEGIC LOCATION TRADITIONAL LAND OWNERSHIP Tiwi Islands located along the northern most part of Australia providing shorter regional shipping distance to Asian export markets Ownership has always remained with the Munupi people - a clear process to a commercial lease (Section 19) for operations LOW ENVIRONMENTAL IMPACT Existing plantation land for commercial use. Small scale desalination for water use and options for local water catchment HIGH SOLAR INTENSITY PORT INFRASTRUCTURE 1,800 hectare solar site has been assessed to have the potential for 2.8 GW of solar generation, in a region of high solar intensity Availability of existing port capable of berthing pilot - ship and industrial precinct for installation of electrolysis and compression LANDOWNER SUPPORT Support of the Tiwi community given new sustainable industry and long - term economic opportunities for jobs and social benefits 10 MOU with 8GW HyEnergy Project to evaluate export of green hydrogen to Asia - Pacific using compression > Objective is to position Compressed Hydrogen as the preferred export carrier > Feasibility study to evaluate the technical feasibility and delivered cost of green hydrogen to Asia - Pacific markets > GEV’s feasibility scheduled for completion in June 2022 > Funding support from the Western Australian Government’s Renewable Hydrogen Strategy SCALE BANKABLE PARTNERS - Phased development of 8 GW Renewables & 200,000 tonnes of green hydrogen - Operating 3.5 GW renewable power projects - Balance sheet - Portfolio of customers LOCATION - Excellent solar and wind generation profiles - Suitability of coastline for offshore loading - Proximity to markets Photo of the Bejaling coastline, North of Carnarvon ( Source: GEV) Fund, Build, Own & Operate 8GW Upstream Power Generation & Downstream hydrogen production Fund, Build, Own & Operate compression, loading, ship fleet 11 HyExport Feasibility Study This project receives funding from the Renewable Hydrogen Fund as part of the Western Australian Government’s Renewable Hydrogen Strategy 12 Looking forward to the milestones ahead 13 GEV positioned to be first to market for hydrogen exports > Targeting ship approvals for a construction decision early 2023 > HyEnergy Project f easibility completion Q2 2022. Goal: Selection of preferred export carrier > Tiwi Hydrogen Project Feasibility end of 2022, for a FID decision in early 2023 What to look out for… > Collaboration with bankable third party hydrogen export projects suitable for compression > Corporate partners for the development of shipping fleet and hydrogen projects > Key appointments to the management and board. Ship a pprovals for a construction decision early 2023 430t Commence Construction 2,000t Approval In Principle 430t Approval In Principle 430t Full Class Approvals Q3 2021 Q1 2021 Early 2023 2023 430t First Operations 2026 Launch 2,000t & Supply Chain Q4 2020 2,000t First Operations By 2030 Tiwi Hydrogen Commence Operations Tiwi Hydrogen Feasibility Study Tiwi Hydrogen FID Tiwi Hydrogen Commence Construction 2023 Q4 2022 2023 2026 HyEnergy Feasibility Study Q2 2022 Enabling our goal for exports in 2026 123 - 456 - 789 When open, the vote will be accessible by selecting the voting tab at the top of the screen To vote simply select the direction in which you would like to cast your vote. The selected option will change colour For Against Abstain There is no submit or send button, your selection is automatically recorded. You can change your mind or cancel your vote any time before the poll is closed To vote online visit: http://web.lumiagm.com/396 - 860 - 199 14 Thank you +61 8 9322 6955 info@gev.com PERTH Suite 19 / 40 St Quentin Ave Claremont WA 6010 SYDNEY Level 14, 234 George St Sydney NSW 2000 15 @ GEVmarineCH2 ASX.GEV www.gev.com Global Energy Ventures (ASX: GEV)
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