Vision Energy Corp. (VENG) Update Underscores Acceleration of its Green Energy Hub Development Near European Hydrogen Backbone

  • Vision Energy Corporation is a developer dedicated to carbon-reduction assets, currently focused on establishment of a Green Energy Hub serving as Northwestern Europe’s first import, storage and handling terminal for hydrogen and other renewable energy products
  • The Green Energy Terminal site in the Netherlands’ North Sea Port of Vlissingen is strategically located near developing transnational European Hydrogen Backbone infrastructure to help reduce Europe’s dependence on Russian fossil fuels
  • Vision Energy’s wholly owned subsidiary Evolution Terminals BV is spearheading the terminal development, and the company recently provided an update of its timeline that shows construction permit applications are expected to be completed during the next month
  • The permit applications are part of the initial phase of development at the 16.4-hectare (40.5-acre) site, which targets completion of 400,000 cubic meters of storage for green and low-carbon products and fuels, including green am`monia, renewable methanol and biofuels

Renewable energy facilities developer Vision Energy (OTCQB: VENG) is demonstrating its commitment to delivering solutions for the global drive to transition from high-pollutant carbon fuels to cleaner climate-friendly energy sources through the repurposing of existing gas and power infrastructure.

Vision Energy, through its wholly owned subsidiary Evolution Terminals BV (“ETBV”), is pioneering a Green Energy Terminal project in the Netherlands’ North Sea Port of Vlissingen designed to provide Northwestern Europe with its first import, storage and handling terminal, purpose-built exclusively for hydrogen carriers, renewable energy products, and low-carbon fuels.

The company recently provided timeline updates for permitting of the Green Energy Hub project, noting that it aims to begin submitting environmental impact construction applications under the Dutch General Provisions Act “Wabo” (https://ibn.fm/RoLgG) within the next few days as the new year approaches and a detailed environmental impact assessment by the end of January.

The applications are being filed “in close cooperation with the authorities and in compliance with the formal process,” according to the company’s statement, and will address a phased construction plan that will begin with building 400,000 cubic meters (“CBM”) of storage for green and low-carbon products and fuels (https://ibn.fm/jGHHk).

Investment in the first phase is estimated at EUR €450 million, supporting construction of up to 150,000 cubic meters (“CBM”) of storage for green ammonia (“NH3”), 180,000 CBM for renewable methanol and 70,000 CBM for biofuels.

The 16.4-hectare (40.5-acre) site will eventually include a new deep-water jetty, quay wall redevelopment, and truck and rail loading facilities. The company believes the planned hub’s prospective value is established by its strategic location in close proximity to anticipated pipeline infrastructure for the developing European Hydrogen Backbone initiative (“EHB”) launched in 2020.

The transnational EHB initiative supports the United Nations-sponsored Paris Agreement reached by nearly 200 international political governments and other proponents of combatting climate change during the past decade, and the importance of transitioning Europe away from dependence on fossil fuels from Russia gained more impetus following Russia’s invasion of Ukraine. An April report on the EHB vision noted companies from 28 countries signed on for infrastructure development at the time (https://ibn.fm/eInEg).

Vision Energy’s ETBV Green Energy Terminal has a portfolio of completed consultancy studies supporting its permit applications, examining spatial layout, planning and design, detailed quantitative risk assessments and safety reporting, acoustic and noise impact assessments, air quality calculations, water handling, fire safety and pilot navigation simulations for the jetty, according to the company.

The company expects to reach a final investment decision (“FID”) by Q3 next year.

For more information, visit the company’s website at www.VisionEnergy.com

NOTE TO INVESTORS: The latest news and updates relating to VENG are available in the company’s newsroom at https://ibn.fm/VENG

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