JERSEY CITY, N.J., November 8, 2022 — via Globe Newswire —
Vision Energy Corporation (OTCQB:VIHD) (“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.