Global Energy Ventures

AU: GEV

Market CapAU$50.3m

Last Close AU$0.11

Global Energy Ventures is focused on the delivery of integrated compressed gas shipping solutions for transporting energy to regional markets. Although the primary focus is on compressed natural gas, large-scale compressed hydrogen solutions are likely to become the dominant focus of the group.

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Investment summary

Global Energy Ventures (GEV) is one of the first transport companies to offer the prospect of genuinely emission-free hydrogen production and inter-regional hydrogen transport solutions. Its innovative C-H2 Ship design has been approved and is in the early stages of development and construction prior to an expected launch in 2026, most likely serving markets in South-East Asia, but with exciting applications in offshore energy production in Europe too. Our scenario models suggest IRRs of between 10% and 19%.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 1.1 N/A (8.9) (2.6) N/A N/A
2020A 1.5 N/A (2.9) (0.8) N/A N/A
2021E 0.1 N/A (4.1) (1.0) N/A N/A
2022E 0.0 N/A (6.4) (1.3) N/A N/A
Industry outlook

Australia is blessed with plentiful renewable energy sources (wind and solar) and a relatively limited local demand given the population. By contrast, several countries in South-East Asia have pledged to decarbonise their economies but have challenges in achieving targets given the geographies. GEV is looking to address this imbalance by transporting surplus energy in the form of green hydrogen from northern and western Australia to areas of high demand in its novel compressed hydrogen vessels.

Last updated on 14/10/2021
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Share price graph
Balance sheet
Forecast net cash (A$m) 6.5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 32.5 64.2 83.3
Relative* 34.6 64.4 53.7
52-week high/low A$0.1/A$0.1
*% relative to local index
Key management
Maurice Brand Chairman
Martin Carolan CEO