GB Energy provides essential gas supply and storage infrastructure for Australia's east coast energy market, ensuring reliable access to natural gas. The company addresses the challenges of energy security and supply volatility by enhancing the region's gas distribution capabilities.
Funding
$32M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Australia's east coast energy market faces challenges related to gas supply reliability and volatility, particularly as the region transitions to renewable energy sources. Fluctuations in demand and the intermittent nature of renewables can lead to market disruptions and impact energy security.
Solution
GB Energy is developing the Golden Beach Energy Storage Project, a gas supply and storage infrastructure project designed to enhance energy market security and efficiency on Australia's east coast. The project involves the development of a gas field and associated pipeline and compressor station to connect to existing infrastructure. Following an initial period of gas production, the project will transition to a gas storage facility, providing a buffer against demand fluctuations and supporting the integration of renewable energy sources. Origin Energy Retail Limited has agreed to purchase all natural gas produced and has also entered into a foundation storage contract with GB Energy.
Target Audience
The primary customers are energy retailers and industrial consumers on Australia's east coast who require a reliable and flexible gas supply to manage demand fluctuations and support the transition to renewable energy.
Features
- Development of the Golden Beach Gas Field, located approximately 3km offshore in the Gippsland Basin
- Construction of a pipeline and compressor station to connect the field to existing infrastructure near Longford, Victoria
- Transition to a gas storage facility after an initial production phase
- Targeted withdrawal capacity of 375TJ per day
- Storage capacity of almost 20PJ in the first phase
- Project classified as critical energy infrastructure by the Australian Government