JERSEY CITY, N.J., Jan. 03, 2023 (GLOBE NEWSWIRE) -- Vision Energy Corporation (OTCQB:VENG) ("Vision Energy" or the "Company") is pleased to announce it has submitted the Environmental Permit Application for its pioneering Green Energy Hub development in North Sea Port of Vlissingen, the Netherlands.
Vision Energy through its wholly owned subsidiary Evolution Terminals BV ("ETBV"), has submitted its concept Environmental Permit Application ("Omgevingsvergunning Milieu"). The Environmental Permit Application consists of over 20 separate and substantial documents including design and layout drawings, detailed environmental studies and reports, and fire, risk and safety assessments.
The submittal of the Environmental Permit Application has initiated the formal Permit Assessment process to be undertaken by relevant governmental authorities, and is another significant project milestone as the Company continues to execute its plan to deliver a pioneering Green Energy Hub for the import, storage and handling of renewable energy products, hydrogen carriers and low-carbon fuels.
The Company's next submittal will be the "Milieueffectrapportage", or "MER", a detailed Environmental Impact Assessment ("EIA"). The MER is planned to be filed on or before January 31, 2023; closely followed by the Phase 1 Construction Permit ("Omgevingsvergunning Bouw"), for the construction of up to 400,000 cubic meters (CBM) of tank storage capacity as well as jetty, truck and rail loading infrastructure. The application for the Construction Permit will be staged to accommodate further expansion of storage infrastructure in response to customer demands for increased green ammonia tank capacity as well as specific technical and operational requirements.
The Company's Project Management Team will continue to consult closely with the relevant municipal and provincial government authorities in support of the formal Permit Assessment process and as the Company maintains its target to achieve the award of all requisite Permits by Q3 and to take Final Investment Decision ("FID") by Q4 2023.
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.
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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.