VoltH2 Expands Management Team

Rhea-AI Summary

Vision Hydrogen Corporation (OTCQB:VIHD) announces significant developments at its 15.9%-owned subsidiary, VoltH2, which has expanded its management team to enhance growth in green hydrogen production. The core engineering and commercial team has grown to 10 professionals, with plans to double recruitment by Q2 2022. VoltH2 has secured permits for an electrolysis plant in Vlissingen, Netherlands, and is progressing on projects across Western Europe. The company aims to support local industries in meeting environmental goals with its green hydrogen production capabilities.

Positive

• VoltH2 expanded its management team to 10 professionals with plans to double by Q2 2022.
• Permits awarded for the electrolysis plant in Vlissingen, Netherlands, indicating progress.
• Forecasted production capacity of 24.5 million kilograms of green hydrogen per year.

Negative

• None.

JERSEY CITY, N.J., Oct. 19, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Vision Hydrogen Corporation (OTCQB:VIHD) (the “Company”) is pleased to announce that VoltH2, a Europe-based developer of green hydrogen production infrastructure projects that is 15.9% owned by the Company, has expanded its management team.

VoltH2 continues to make significant progress in realizing its objectives and has made a number of strategic hires, increasing its core team of highly experienced commercial and engineering professionals to 10 individuals, with a plan to double the team headcount by Q2 2022 as the pace of business continues to increase. Since commencing operation in early 2020, VoltH2 has been successfully executing on its mission to design, develop and build scalable hydrogen production facilities at multiple strategic locations in Western Europe. Deploying only proven and commercial technologies in partnership with established energy-industry participants, VoltH2 has been awarded permits for its initial electrolysis plant in Vlissingen, the Netherlands.

New hires include Paul Spoeltman, Head of Electrical Engineering; Bas Lavalaye, Commercial Manager focusing on business development and offtake partnerships; and Chris de Borst, Financial Controller. Mr. Spoeltman brings over 40 years of experience working for organizations such as Engie Belgium and RWE Generation NL in the areas of power generation, storage and distribution, with core competencies in renewable energy, liquified gas and cryogenic systems including LNG, LPG and Hydrogen. Mr. Lavalaye has spent 15 years working in the Dutch and Belgium energy market and has advised domestic and international customers on their purchase and consumption of renewable energy. He has extensive experience in preparing Power Purchase Agreements and previously was responsible for starting up the gas portfolio for Eneco in Belgium. Mr. de Borst joins VoltH2 from Orsted Netherlands where he was responsible for finance, IT and treasury and served as a board member of the offshore windfarm Borssele 1&2. He oversaw the growth of the organization from 6 to 60 employees within 24 months and assisted in the successful divestment of 50% of the Borssele portfolio for €1.5 billion.

Also recently hired are Gerwin Hament, Head of Project Management and Hans Brinkhof, Project Manager covering Germany. Mr. Hament has 20 years of experience in the energy markets with the last 10 years overseeing projects in the renewables market. Previously he has worked for Focus ON, Euroloop B.V. and E-On Benelux. Mr. Brinkhof is a Civil Engineer with over 30 years of experience as a technical manager across the construction and telecom sectors and has spent 25 years working in the Dutch Ministry of Infrastructure (RWS). The core team has developed and built wind, solar, biogas, biomass and CCGT energy projects, collectively worth over €4 billion Euros and will continue to work closely with the VoltH2 external engineering, technical and commercial partners to continue the successful development and delivery of the pioneering VoltH2 clean hydrogen production projects.

To accommodate the expanding team and to support operational coverage of a rapidly increasing inventory of project locations across the Benelux, France and Germany, VoltH2 has recently moved into new corporate head offices located in Bergen-op-Zoom, the Netherlands. This location is ideal due to its close proximity to the Belgium border and major road access to the Western borders of Germany. VoltH2 will continue to update on corporate and project development reflecting the most recent progress of VoltH2 as it continues to increase its footprint of clean hydrogen projects in Western Europe.

About VoltH2:

VoltH2 is in the business of designing, developing, building and operating green hydrogen plants in Europe. With two production facilities currently being developed in the Netherlands, both plants are forecasted to be in production in Q1 2023 with the capacity for each to produce 3.5 million kilograms of green hydrogen per year scalable to a combined 24.5 million kilograms per year. The strategic European location will allow for the green hydrogen to be transportable by road, rail and waterways. Local industries will be able to purchase green hydrogen to meet their environmental objectives. Please visit www.volth2.com for more information including the VoltH2 corporate presentation.

About Vision Hydrogen:

Vision Hydrogen Corporation is focused on hydrogen production for transportation and power requirements, with a goal of contributing to a clean-energy environment. Our commitment is to provide the highest-quality hydrogen production, storage and distribution services for the hydrogen economy supply chain, serving residential, commercial and government sectors.

Contact:

Vision Hydrogen Corporation/Investor Relations                                                
95 Christopher Columbus Drive, 16^th Floor                                
Jersey City, NJ 07302                                                
551-298-3600 USA
www.visionh2.com

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

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 “anticipate,” “believe,” “forecast,” “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.

FAQ

What recent developments has Vision Hydrogen Corporation (VIHD) announced regarding VoltH2?

Vision Hydrogen Corporation announced that VoltH2 has expanded its management team and secured permits for an electrolysis plant.

What is the future capacity for green hydrogen production at VoltH2?

VoltH2 is expected to produce a combined capacity of 24.5 million kilograms of green hydrogen per year.

How many professionals are currently on the VoltH2 team?

VoltH2's core team has increased to 10 experienced professionals.

Where is VoltH2’s electrolysis plant located?

The electrolysis plant is located in Vlissingen, Netherlands.

What is the strategic hiring plan for VoltH2?

VoltH2 plans to double its team size by Q2 2022 to support expanding operations.