Vision H2 Signs Agreement With North Sea Port
Vision H2 is preparing to build a green hydrogen plant in North Sea Port. To this end, it has signed a cooperation agreement for its construction in Vlissingen.
Vision H2 B.V. has signed a cooperation agreement in preparation of a long-term concession contract with North Sea Port for an industrial plot covering 27,950 m2 in Vlissingen. The company has started planning and developing the construction of a green hydrogen plant with storage, refuelling and distribution facilities. The agreement also provides for the possible construction of a pipeline to a tanker transfer point.
Expandable to four times initial production
Vision H2 envisages the construction of a 25 MW electrolysis unit using proven, commercially available technology. The plant will produce up to 3.6 million kg (3,600 tonnes) of green hydrogen annually. By integrating hydrogen storage, local filling stations can also be supplied, thus contributing to increased sustainability for North Sea Port. The design of the green hydrogen plant will allow for an expansion of up to 100 MW with a potential production of 14.4 million kg (14,400 tonnes) of green hydrogen per year.
The site is accessible by road, rail and waterway for the supply and distribution of green hydrogen in the wider area or to the gas network. The investment for the first phase is budgeted at €35 million, subsequently rising to more than €100 million. The site is strategically located in Vlissingen, next to the existing Sloe gas-fired power station and close to other important industrial companies that will start using green hydrogen in the future in addition to grey and blue hydrogen. VoltH2 is also examining the feasibility of a truck transport point exclusively for the use of hydrogen.
"With the signing of this agreement with North Sea Port for our first site in Vlissingen, we are giving the starting signal for the expansion of VoltH2", "We thank North Sea Port for their cooperation and support in the preparatory phase so that we can take this first step in the development of a green hydrogen hub in Vlissingen."
Green Hydrogen Hub
"The idea of using available commercial green hydrogen is one of the keys to the global energy transition aimed at reducing the use of fossil fuels and is rapidly becoming an economic reality. The COVID-19 crisis has increased the focus on a CO2-free economy now that we see how quickly nature responds positively to a slowdown in economic activity”,
The Netherlands has medium-term and long-term climate targets, including green hydrogen, to reduce its carbon footprint by 49% by 2030 and by 95% by 2050.
North Sea Port, Energy Port
"Vision H2's investment in a green hydrogen plant is in line with the energy transition that North Sea Port is working on with many partners. It also contributes to the port’s development as an Energy Port. The power station will also makes it possible to further develop North Sea Port as a multimodal port, with transport of hydrogen by road, rail and water."
"Vision H2 is already in discussions with various companies on the supply of green electricity to the site, including long-term supply contracts. Other potential partners that anticipate using green hydrogen as part their future energy mix are always welcome”
About Vision Energy
Vision Energy is a forward-looking 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.
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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,” “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.