JERSEY CITY, N.J. and HALLE, Belgium, Nov. 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Vision Hydrogen Corporation (OTCQB: VIHD) ("VisionH2" or the "Company") is pleased to announce that it has been granted Permits for a 25 MW Green Hydrogen Plant in North Sea Port of Terneuzen, the Netherlands.
Vision Hydrogen subsidiary VoltH2, in partnership with Virya Energy, reaches a critical developmental milestone towards development of a 25 MW green hydrogen production facility with tube-trailer loading and integrated distribution facilities. This scalable platform allows the partnership to scale up production capacity at this Site to 75 MW. At 25 MW the plant will produce up to 3.5 million kilograms of green hydrogen per year, and up to 10.5 million kilograms of H2 output at 75 MW.
The Project Site is strategically located in the North Sea Port of Terneuzen, proximate to existing high voltage power and gas infrastructure as well as large renewable power producing assets for the supply of green electrons and large industrial customers for future offtake of clean hydrogen.
Less than 1,500 metres from the Project Site is the 150kV ground station of TenneT, the Dutch national high voltage grid operator, and less than 1,400 metres away is the connection point to the Yara-Dow-Zeeland Refinery Pipeline which may be repurposed for H2 transport to the Zeeland Refinery in future. Adjacent to the Project Site is the Ghent-Terneuzen Canal, providing water access to the major European Port of Ghent.
VisionH2 and Virya plan to build the initial 25 MW electrolysis plant using proven, commercially available technology. Projected development costs for the initial phase of the project are estimated at €35 - €40 million.
VisionH2's partner, Virya Energy contributes its extensive experience and knowledge, developed in the construction of previous green hydrogen applications, and continues to be at the forefront of innovation in development and adaptation of renewable and sustainable energy practices. The parties have received all Environmental and Construction Permits required to proceed with development, and they are now in the final statutory consultation and review period.
About Virya Energy
Virya Energy, which groups the companies Parkwind, Eoly Energy en Eurowatt, is much experienced in the production of renewable power (both onshore and offshore) and is currently also developing multiple H2 related projects. By developing the Terneuzen project, Virya helps to ensure that the necessary Hydrogen infrastructure is put in place in support of the coming energy transition. The Benelux is a unique region with a strongly developed industrial and logistics fabric. Green hydrogen has the potential to put industry and logistics firmly on the road towards CO2 neutrality by 2050.
About VisionH2
Vision Hydrogen 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. Through its wholly-owned subsidiary VoltH2, VisionH2 designs, develops, constructs and operates green hydrogen plants in Northwestern Europe, with production facilities being developed in Vlissingen and Terneuzen
Contact:
Vision Hydrogen Corporation/Investor Relations
95 Christopher Columbus Drive, 16th Floor
Jersey City, NJ 07302
551-298-3600 USA
www.visionh2.com
Andre Jurres, Vision H2 Co-CEO and VoltH2 Managing Director
Tel. +32
Virya Energy
Stephan Windels, CEO Eoly Energy
Tel. +32
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.
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