Vision Energy’s Green Energy Hub

Rhea-AI Summary

Vision Energy Corporation (OTCQB:VIHDD) has announced significant progress on its Green Energy Hub in North Sea Port of Vlissingen, Netherlands. The company, through its subsidiary Evolution Terminals BV, is investing approximately EUR €450 million in the first phase, targeting 400,000 cubic meters of storage for hydrogen and low-carbon fuels. The project includes a new deep-water jetty and sustainable practices aimed at reducing emissions. Scheduled permit submissions by December 2022 and a final investment decision (FID) expected by late 2023 further underscore the project’s strategic relevance.

Positive

• EUR €450 million investment in Vlissingen's Green Energy Hub.
• Phase 1 to provide 400,000 cubic meters of low-carbon storage.
• Sustainable operating practices aimed at reducing emissions.
• Job creation and local economic benefits from the project.

Negative

• None.

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/

FAQ

What is Vision Energy Corporation's latest update on the Green Energy Hub in Vlissingen?

Vision Energy Corporation is investing EUR €450 million in its Green Energy Hub in Vlissingen, focusing on hydrogen carriers and low-carbon fuels, with construction plans including 400,000 cubic meters of storage.

When is the final investment decision (FID) expected for the Vlissingen project?

The final investment decision (FID) for Vision Energy's Vlissingen project is expected by the end of 2023.

What are the anticipated benefits of the Green Energy Hub project for the local economy?

The project is expected to create local jobs and contractor opportunities, supporting economic growth in the Vlissingen area.

What type of fuels and products will Vision Energy's terminal handle?

The terminal will handle hydrogen carriers, renewable energy products, and low-carbon fuels.

What is the expected storage capacity of the terminal in Vlissingen?

The terminal is planned to have a storage capacity of 400,000 cubic meters.