JERSEY CITY, N.J., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Vision Energy Corporation (OTCQB:VIHDD) ("Vision Energy" or the "Company") provides an update on the company's pioneering Green Energy Hub in North Sea Port of Vlissingen, the Netherlands.
Vision Energy, through its wholly-owned subsidiary Evolution Terminals BV, is in the advanced stages of planning for the construction and delivery of Northwestern Europe's first import, storage and handling terminal designed exclusively for hydrogen carriers, renewable energy products and low-carbon fuels.
The Company is in advanced development of its 16.4 hectare Vlissingen site, with the Phase 1 development plan investment estimated at EUR €450 million for up to 400,000 cubic meters (CBM) of storage for green and low-carbon products and fuels. The project will include investment in a new deep-water jetty, quay wall redevelopment, truck and rail loading facilities.
Evolution Terminals' substantial redevelopment will adopt industry leading sustainable operating practices to reduce emissions from terminal activities. The development, situated on a remediated brownfield site, brings a green and renewable energy business model to the Netherlands at an opportune moment.
The Company's project will be a significant investment in the Port of Vlissingen providing local and regional contractor and employment opportunities for decades. The project also supports North Sea Port Authority's ambition to become a leader in green and sustainable port operations.
The Company will further assess the feasibility to integrate an Ammonia Cracking Facility at the site, to be connected to the Company's Green Ammonia storage infrastructure, for cracking Green Ammonia to Hydrogen and exploiting the site's close proximity to the future European Hydrogen Backbone (EHB).
The Company would like to thank North Sea Port for their continued support throughout the project's development stages. The Company is scheduled to submit all remaining permits by December 2022, with FID expected towards the end of 2023.
About Vision Energy
Vision Energy is an integrated energy company developing assets and solutions for the commercial, industrial and transportation sectors. Leveraging its proven track-record in site and asset procurement, accelerating development and permitting processes, plant design, and grid integration to facilitate low-carbon energy production, supply and distribution. The Company pursues reliable offtake relationships and operating partnerships with energy industry participants and end users seeking carbon abatements across feedstock and fuels. Vision Energy is committed to providing low carbon energy solutions with the highest yield, and where possible, projects are designed to leverage existing gas and power infrastructure to integrate and facilitate import and or distribution of reduced-carbon energy to domestic and global supply chains.
Forward Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "forecast", "anticipate," "believe," "estimate," "expect" and "intend," among others. These forward-looking statements are based on current expectations, and actual results could differ materially. The Company does not undertake an obligation to update or revise any forward-looking statement. The information set forth herein speaks only as of the date hereof.
Vision Hydrogen Corporation/Investor Relations
95 Christopher Columbus Drive, 16th Floor
Jersey City, NJ 07302
551-298-3600 USA
https://visionh2.com/
