Vision Energy New Dutch Subsidiaries

Rhea-AI Summary

Vision Energy Corporation (OTCQB:VENG) has established two new Dutch subsidiaries to support its integrated Green Energy Hub project in Vlissingen, Netherlands. The subsidiaries include Vision Hydrogen BV, focusing on developing an Ammonia Cracking Facility to convert green ammonia into hydrogen gas, and Evolution Terminals Operating BV, aimed at managing logistics infrastructure. Additionally, a special purpose vehicle, Evolution Terminals SPV II BV, will facilitate joint ownership of specific storage assets. The company is collaborating with Linde Engineering to enhance hydrogen production through ammonia back-cracking.

Positive

• Incorporation of Vision Hydrogen BV for ammonia cracking development.
• Collaboration with Linde Engineering for co-development and hydrogen production.
• Establishment of logistics infrastructure with Evolution Terminals Operating BV.

Negative

• None.

JERSEY CITY, N.J., Jan. 10, 2023 (GLOBE NEWSWIRE) -- Vision Energy Corporation (OTCQB:VENG) (“Vision Energy” or the “Company”) announces 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 North Sea Port of Vlissingen, the Netherlands.

The Company has incorporated “Vision Hydrogen BV” as a project development company to develop, own and operate the Company’s planned Ammonia Cracking Facility, for back-cracking imported green ammonia to hydrogen gas as a service. It is planned that the Ammonia Cracking Facility will integrate with the Company’s import, storage and handling terminal development in Vlissingen via a short pipeline enabling dedicated storage and handling capacity for imported green Ammonia feedstock, subject to additional studies and obtaining all requisite permits and approvals.

On December 2, 2022, the Company entered into a Memorandum of Understanding with Linde Engineering in connection with a mutual interest to participate in co-investment, development and operations associated with Hydrogen production through Ammonia back-cracking (please refer to Company News Release December 12, 2022). 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 to allocate suitable lands for detailed development and engineering.

The Company has also incorporated “Evolution Terminals Operating BV”, a dedicated operating entity to jointly own and operate logistics infrastructure under a joint operating agreement on behalf of the terminal in the event that the terminal’s tank storage assets are owned by more than one strategic equity partner, and “Evolution Terminals SPV II BV”, a special purpose vehicle to be utilized for joint ownership of specific storage assets with a strategic launching customer or partner.

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.

Vision Energy
95 Christopher Columbus Drive,
16th Floor Jersey City, NJ
07302 USA
visionenergy.com

Investor Contact
Scott McGowan
Phone: 310.299.1717
ir@visionenergy.com

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.

FAQ

What is the purpose of Vision Energy's new subsidiaries in the Netherlands?

Vision Energy has incorporated new subsidiaries to support strategic initiatives for its Green Energy Hub, focusing on hydrogen production and logistics.

What is the focus of Vision Hydrogen BV?

Vision Hydrogen BV is aimed at developing and operating an Ammonia Cracking Facility to convert imported green ammonia into hydrogen gas.

How does Vision Energy plan to utilize its partnership with Linde Engineering?

Vision Energy plans to work with Linde Engineering on co-investment and development of hydrogen production through ammonia back-cracking.

What is the role of Evolution Terminals Operating BV?

Evolution Terminals Operating BV is set up to manage logistics infrastructure for the terminal's tank storage assets under a joint operating agreement.

What strategic move did Vision Energy announce on January 10, 2023?

On January 10, 2023, Vision Energy announced the incorporation of new subsidiaries to enhance its Green Energy Hub project in the Netherlands.