JERSEY CITY, N.J., Oct. 28, 2022 (GLOBE NEWSWIRE) -- Vision Hydrogen Corporation (OTCQB:VIHD) ("VisionH2" or the "Company") is pleased to announce that it has concluded conceptual layouts and functional requirements for its Green Energy Hub development project in the North Sea Port of Vlissingen, the Netherlands.
The Company's Phase 1 Development Plan is designed for the construction of approximately 400,000 cubic meters (CBM) of renewable liquid bulk storage capacity comprising 150,000 CBM allocated to Green Ammonia, 180,000 CBM allocated to Renewable Methanol and 70,000 CBM allocated to Biofuels and Liquid Organic Hydrogen Carriers (LOHC). Phase 1 CAPEX is estimated at EUR €450 million, including jetty infrastructure.
Through its wholly owned subsidiary Evolution Terminals BV, VisionH2 is pioneering a Green Energy Hub for the storage and distribution of low carbon Renewable Fuels and Hydrogen carriers, strategically located in Vlissingen (Flushing) at the mouth of the Westerschelde estuary in the Netherlands. The Company's Green Energy Hub is well positioned to be the first terminal in Europe focussed on the storage of low carbon and renewable fuels with the Company on schedule to file for the remaining construction and environmental permits by December 2022.
The concept layouts and functional requirements include provision for the further expansion of the Company's storage capacity, to facilitate increasing volumes of Renewable Methanol and Green Ammonia as efficient carriers of Hydrogen for import and distribution to North-western Europe.
About Vision Hydrogen
VisionH2 is a renewable energy company developing carbon reduced hydrogen solutions for the commercial, industrial and transportation sectors. VisionH2 is leveraging its proven track-record in site procurement and permitting, accelerating pre-development and grid integration to produce low-carbon and green hydrogen. By establishing and negotiating long-life commitments the Company ensures reliable offtake relationships with industry participants seeking to utilize hydrogen as fuel, feedstock, and as a grid balancing & capacitance solution. VisionH2 is committed to providing the lowest carbon solution with the highest yield hydrogen production, storage and distribution services for the European renewable economy and supply chain.
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.
Vision Hydrogen Corporation/Investor Relations
95 Christopher Columbus Drive, 16th Floor
Jersey City, NJ 07302
551-298-3600 USA
https://visionh2.com/
