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2018 Dec 13

GEV Completes Final ABS Requirement for the CNG Optimum Design

Global Energy Ventures Ltd (GEV), a leading developer of global integrated compressed natural gas (CNG) projects, has completed the extensive prototype testing of the Optimum system. This program included burst tests, fatigue tests and proof-of-concept tests.

These tests plus the designs and studies in support of obtaining American Bureau of Shipping (ABS) full class design approval for the Optimum system are now complete.

The final test in the program was a cooled burst test on a notched sample that had been fatigued through 3 times the design life (6,000 cycles). The purpose of this test was to demonstrate the Optimum tanks’ burst capacity after, fatigue, crack formation, and cooling that could result from the Joule-Thompson cooling effect of gas escaping through a crack. This is an extremely rigorous test that was passed successfully.

Chairman & CEO Maurice Brand said: “we are delighted to inform shareholders the Company has now successfully completed tests, designs, and studies required by ABS to obtain full class design approval for the CNG Optimum design. GEV Canada will continue to work with ABS to address any final clarifications required prior to receiving full class approvals. The Company’s focus is now on selection of a ship yard(s), associated ship financing options and the continued development of its suite of CNG projects to commercialise the CNG Optimum ship.”

“The finalisation of ABS testing, studies and design of the CNG Optimum ship has been a critical milestone for the Company given its inter-dependencies with finalising shipyard selection, financing options and progressing our global portfolio of current and prospective projects under review”.

GEV aims to maintain global leadership in marine CNG shipping through the delivery of integrated CNG solutions. CNG is a well proven solution with technical and commercial advantages along with being safe and environmentally friendly.

Source: www.ngvglobal.com

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