VisionH2 Engages Environmental Consultants
Vision Hydrogen Corporation (OTCQB:VIHD) has engaged DGMR, a Netherlands-based consultancy, for environmental studies related to its Green Energy Hub project in the North Sea Port of Vlissingen. This hub aims to provide import, storage, and handling facilities for hydrogen carriers and renewable fuels.
Phase 1 involves building 400,000 cubic meters of storage capacity with an estimated CAPEX of €450 million. The company plans to file for construction and environmental permits by December 2022, ensuring compliance with all environmental standards.
- Engaged DGMR for environmental studies, enhancing project credibility.
- Plans to construct a Green Energy Hub with substantial renewable storage capacity.
- Phase 1 estimated CAPEX of €450 million reflects significant investment potential.
- No immediate revenue generation from the project until completion.
- Environmental compliance processes may lead to delays in project timeline.
JERSEY CITY, N.J., Nov. 04, 2022 (GLOBE NEWSWIRE) -- Vision Hydrogen Corporation (OTCQB:VIHD) (“VisionH2” or the “Company”) is pleased to announce that it has engaged DGMR (“DGMR”), a Netherlands-based engineering consultancy, for environmental studies and planning services for the Company’s pioneering Green Energy Hub development project in the North Sea Port of Vlissingen, the Netherlands, and which is being designed to provide import, storage and handling facilities for hydrogen carriers, renewable energy products and green fuels.
DGMR has been engaged to provide specialist studies and reports to support the Company’s environmental permit application and to assess and calculate the impact of the Company's activities on the surrounding area, to ensure future operations conform to and exceed to all required standards.
DGMR is an independent engineering consultancy company that specializes in environmental studies and spatial planning. DGMR is conducting detailed studies on acoustic impact, external safety assessment and risk mitigation, air quality preservation and nitrogen deposition calculations for the Company’s future operations at its pioneering Green Energy Hub.
The Company, through its wholly owned subsidiary Evolution Terminals, is in the advanced stages of planning for the construction of its Green Energy Hub, and is on schedule to file for the remaining construction and environmental permits by December 2022. The Company’s Phase 1 development plan is designed for the construction of approximately 400,000 cubic meters (CBM) of renewable liquid bulk storage capacity comprising 150,000 CBM allocated to Green Ammonia, 180,000 CBM allocated to Renewable Methanol and 70,000 CBM allocated to Biofuels and Liquid Organic Hydrogen Carriers (LOHC). Phase 1 CAPEX is estimated at EUR
About Vision Hydrogen
VisionH2 is a renewable energy company developing carbon reduced hydrogen solutions for the commercial, industrial and transportation sectors. VisionH2 is leveraging its proven track-record in site procurement and permitting, accelerating pre-development and grid integration to produce low-carbon and green hydrogen. By establishing and negotiating long-life commitments the Company ensures reliable offtake relationships with industry participants seeking to utilize hydrogen as fuel, feedstock, and as a grid balancing & capacitance solution. VisionH2 is committed to providing the lowest carbon solution with the highest yield hydrogen production, storage and distribution services for the European renewable economy and supply chain.
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/
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