Global Energy Ventures Ltd. announced the following update on the development of a new compressed hydrogen ship to transport the zero-carbon fuel of the future. GEV and Pacific Hydro Australia Developments Pty Ltd. have executed a Memorandum of Understanding to explore opportunities regarding the production, storage, loading, ground and marine transportation of green hydrogen produced by Pacific Hydro's Ord Hydrogen Project. Both parties will work collaboratively on developing an export market and associated marine transport solution for green hydrogen utilising GEV's proprietary C-H2 ship and supply chain. Pacific Hydro operate the Ord Hydro Plant, located at Lake Argyle, Western Australia, which has the capacity to supply 30MW of renewable power to the local market. Pacific Hydro has completed a feasibility study utilising electricity generated by the Ord Hydro Plant to produce green hydrogen via the process of electrolysis, and market offtake to domestic and future export markets. The location provides a unique opportunity for hydrogen production, utilising low cost, high availability, dispatchable renewable generation and abundant access to water. The Ord Hydrogen Project has received funding support from the Western Australia Renewable Hydrogen Fund. The Ord Hydrogen Project is located near two ports in northern Australia with export potential for green hydrogen to Asian markets. Under the terms of the MOU: GEV and Pacific Hydro will engage in discussions and explore opportunities regarding the production, storage, loading, ground and marine transportation, employing GEV's C-H2 supply chain, of the green hydrogen produced by the Ord Hydrogen Project. The Parties will engage in discussions regarding the proposed terms for an offtake and/or transportation agreement or similar contract in respect of the marine transportation of green hydrogen produced by the Ord Hydrogen Project; and The Parties will work towards developing an agreed business plan and identifying relevant stakeholder approvals and endorsements. The MOU has a term of four years.