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Vision Energy Corp. (VENG) Announces Incorporation of New Dutch Subsidiaries to Accommodate Strategic Initiatives for Prospective Partners
January 18, 2023

Vision Energy Corp. (VENG) Announces Incorporation of New Dutch Subsidiaries to Accommodate Strategic Initiatives for Prospective Partners

  • Vision Energy has announced the incorporation of Vision Hydrogen BV as a project development company for its planned Ammonia Cracking Facility for back-cracking imported green ammonia into hydrogen gas as a service
  • On December 2, 2022, Vision entered a Memorandum of Understanding with Linde Engineering with a mutual interest to participate in co-investment, development, and operations associated with hydrogen production through ammonia back-cracking
  • Vision Energy has also incorporated “Evolution Terminals Operating BV,” a dedicated entity that will jointly own and operate logistics infrastructure
  • The company’s Green Energy Hub is positioned to be the first terminal in Europe focused on green and low-carbon energy products

Vision Energy (OTCQB: VENG), a forward-looking renewable energy facilities developer, has announced the incorporation of new Dutch subsidiaries to accommodate strategic initiatives for prospective partners, operators, and launching customers for its integrated Green Energy Hub development in the North Sea Port of Vlissingen, the Netherlands. The region is home to the largest industrial ports in Europe, where much of the hydrogen demand is located, and presents a well-developed natural gas infrastructure connecting these ports with other industrial hubs. This network could be partially repurposed to facilitate hydrogen delivery from production sites to demand centers (https://ibn.fm/DcfoI).

The Green Energy Hub’s design can receive seagoing vessels, barges, and coasters, served by a dedicated deep-water jetty and rail and truck loading infrastructure. This will allow for direct access to purpose-built storage and handling facilities for low-carbon fuels and hydrogen carriers – including ammonia, methanol, and liquid organics. The Green Energy Hub is positioned to be the first terminal in Europe focused on green and low-carbon energy products.

The company has incorporated “Vision Hydrogen BV” as a project development company to develop, own, and operate its planned Ammonia Cracking Facility for back-cracking imported green ammonia to hydrogen gas as a service. Vision has planned for the Ammonia Cracking Facility to integrate with the Green Energy Hub project in Vlissingen using a short pipeline enabling dedicated storage and handling capacity for imported green ammonia feedstock, subject to additional studies and obtaining all required permits and approvals.

Vision entered into a Memorandum of Understanding with Linde Engineering on December 2, 2022, in connection with a mutual interest to participate in co-investment, development, and operations associated with hydrogen production through ammonia back-cracking. Linde is highly experienced in clean energy infrastructure design and operations. Vision previously contracted with Linde to deliver preliminary Front-End Engineering and Design (“FEED”) services for Phase 1 of the company’s Green Energy Hub. Vision Hydrogen BV plans to commence pre-feasibility, pre-development, and initial permit preparation efforts in consultation with Linde Engineering to define the land area required for the facility and the allocation of suitable lands for detailed development and engineering.

Vision Energy has also incorporated “Evolution Terminals Operating BV,” a dedicated operating entity that will jointly own and operate logistics infrastructure under a joint operating agreement on behalf of the terminal if more than one strategic equity partner owns the terminal’s tank storage assets.

Vision Energy’s forward-looking Green Energy Hub fits in with Northern Europe’s market for green hydrogen, which is growing rapidly. The current demand projections exceed the scheduled production for the next five to ten years. Through its European Green Deal, the EU has set the objective to become climate-neutral by 2050, implying a near-total phase-out of fossil fuels in the EU energy systems. Other countries are also working to put in place subsidy programs for the development of green hydrogen facilities in anticipation of this goal.

Vision Energy aims to create long-term strategic joint ventures or operating partnerships to support underlying project development, economics, and scalability.

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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