JERSEY CITY, N.J., Dec. 12, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Vision Energy Corporation (OTCQB:VENG) ("Vision Energy" or the "Company") is pleased to announce the signing of a Memorandum of Understanding ("MOU") with Linde Engineering for expanding scope and further cooperation in regards to Vision Energy's pioneering Green Energy Terminal in North Sea Port of Vlissingen, the Netherlands.
The expanded scope in the MOU defines the parties' intentions to engage in a deeper collaboration in connection with engineering, procurement and construction services and a mutual interest to participate in co-investment, development and operations associated with Hydrogen production through Ammonia Back-Cracking as a service and an e-Methanol production plant.
This expanded scope will vastly accelerate the development commitments of Evolution Terminal's existing site located in Vlissingen, The Netherlands, for storage of Ammonia/LPG and other green and renewable products such as e-Methanol.
Linde is highly experienced in clean energy infrastructure design and operations. Vision Energy has previously contracted with Linde to deliver preliminary Front-End Engineering and Design (FEED) services for Phase 1 of Vision Energy's Green Energy Terminal. The previous scope of works included design and engineering of 150,000 cubic meters (CBM) of Green Ammonia (NH3) storage, truck and barge loading facilities, ship loading and unloading facilities, and utilities, infrastructure and buildings. Engineering efforts under the agreement have commenced and are anticipated to conclude in April 2023 in support of Vision Energy's target to reach Final Investment Decision (FID) by Q3 2023. See Vision Energy News Release 9th November 2022.
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.
About Linde
Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.
The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
Vision Energy
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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," "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.
