Vision Energy & Linde Engineering Sign Cooperation Agreement
JERSEY CITY, N.J., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Vision Energy Corporation (OTCQB:VIHDD) (“ Vision Energy ” or the “ Company ”) is pleased to announce it has entered into a cooperation agreement with Linde Engineering to accelerate engineering efforts for the Company’s pioneering Green Energy Terminal in North Sea Port of Vlissingen, the Netherlands.
Vision Energy, through its wholly-owned subsidiary Evolution Terminals BV, has partnered with Linde Engineering, to deliver preliminary Front-End Engineering and Design (FEED) services to the project for Phase 1 of Vision Energy’s Green Energy Terminal. Scope includes design and engineering of 150,000 cubic meters (CBM) of Green Ammonia (NH3) storage, truck and barge loading facilities, ship loading and unloading facilities, and utilities, infrastructure and buildings.
Engineering efforts under the agreement have commenced and are anticipated to conclude in April 2023 in support of the Company’s target to reach Final Investment Decision (FID) by Q3 2023.
Vision Energy 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 scheduled to file all remaining environmental and construction permits by December 2022. Total capacity under Phase 1 is for up to 400,000 CBM including 150,000 CBM allocated to Green Ammonia, 180,000 CBM allocated to Renewable Methanol and 70,000 CBM allocated to Biofuels.
“Our cooperation with Linde Engineering marks a critical milestone in our development, to deliver this world-class project with the vast global expertise Linde possesses,” said Andrew Hromyk, CEO. “Our Green Energy Terminal Project will accelerate and advance the energy transition and facilitate Northwestern Europe’s ambition to achieve Net Zero through carbon-abatement and adoption of hydrogen as a core feedstock and fuel.”
“We are proud to work with Vision Energy on the sustainable development of this ammonia terminal, leveraging our extensive EPC expertise and clean energy technology to enable the green hydrogen economy,” said John van der Velden, Senior Vice President Global Sales & Technology at Linde Engineering.
Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.
The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde’s industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
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.
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