- The European Green Deal, with the objective to become climate-neutral by 2050, implies a near-total phase-out of fossil fuels in the EU energy system
- Vision Energy signed a cooperation agreement with Linde Engineering to accelerate efforts for its pioneering Green Energy Terminal in the North Sea Port of Vlissingen, the Netherlands
- Engineering efforts under the agreement have commenced and are anticipated to conclude in April 2023, supporting the company’s target to reach a Final Investment Decision by Q3 2023
Hydrogen presents a global opportunity to reduce greenhouse gas emissions due to its high efficiency and zero-or near-zero-emissions operation. The global hydrogen market is expected to grow from an estimated value of $160 billion in 2022 to $263.5 billion by 2027, registering a CAGR of 10.5%. The growth is driven by an increased demand for long-term storage and the rising need to decrease greenhouse gas emissions from hydrogen production methods (https://ibn.fm/mib6x).
Vision Energy (OTCQB: VIHDD), previously Vision Hydrogen Corporation, is a forward-looking energy company developing assets and solutions for the commercial, industrial, and transportation sectors. The company is 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. Vision Energy recently announced its approval for a 1 to 2 forward stock split and its name change to Vision Energy Corporation, under which the company will continue trading under the VIHDD ticker symbol for 20 business days (effective November 8, 2022) to designate the forward split, after which it will be assigned a new ticker symbol.
To further its efforts, the company entered into a cooperation agreement with Linde Engineering to accelerate efforts for its pioneering Green Energy Terminal in the North Sea Port of Vlissingen, the Netherlands. Engineering efforts under the agreement have commenced and are anticipated to conclude in April 2023, supporting the company’s target to reach a Final Investment Decision (“FID”) by Q3 2023.
Through the company’s wholly-owned subsidiary, Evolution Terminals BV, Vision Energy is pioneering a Green Energy Hub development project for the import, storage, and distribution of low-carbon renewable fuels and hydrogen carriers – a hub that is positioned to be the first terminal in Europe focused on green and low-carbon energy products. The Green Energy Hub is on schedule to file for the remaining construction and environmental permits by December 2022, with a design capable of receiving seagoing vessels, barges and coasters, served by a dedicated deep-water jetty as well as rail and truck loading infrastructure that will enable direct access to purpose-built storage and handling facilities.
Vision Energy is currently in the advanced stages of planning for the construction and delivery of Northwestern Europe’s first import, storage, and handling terminal that is designed exclusively for hydrogen carriers, renewable energy products, and low-carbon fuels – creating solutions in an industry where rising needs for the reduction of greenhouse gas emissions in an industry with high demand for long-term storage of hydrogen fuel.
Vision Energy is pursuing the creation of solutions for industries currently underserved by the current market. With the EU’s European Green Deal, the objective has been set to become climate-neutral by 2050, implying a near-total phase-out of fossil fuels in the EU energy system. Many countries are working to implement subsidy programs for developing green hydrogen facilities in anticipation of these goals.
For more information, visit the company’s website at https://visionenergy.com/.
NOTE TO INVESTORS: The latest news and updates relating to VIHDD are available in the company’s newsroom at https://ibn.fm/VIHDD
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