JERSEY CITY, N.J., Jan. 25, 2023 (GLOBE NEWSWIRE) -- Vision Energy Corporation (OTCPINK:VENG) (“Vision Energy” or the “Company”) is pleased to provide an update to the engineering and design advancements for its Energy Hub development in North Sea Port of Vlissingen, the Netherlands.
The Company’s wholly owned subsidiary, Evolution Terminals BV, has received an initial delivery of a series of engineering materials under the scope and deliverables for the preliminary Front End Engineering and Design (“pre-FEED”) study that was initiated by the Company through the engagement of Linde Engineering in November 2022. (Refer to Company news release November 9, 2022).
The materials delivered by Linde Engineering include a Basis of Design and Basis of Process Design, preliminary Block and Process Flow Diagrams, Blow Down and Flare concept, preliminary Overall Process and Environmental Design Safeguarding Concept, Draining and Effluent Treatment Concept, a Plot Plan and Concept Soil Investigation Specifications for the planned 150,000 cubic meters (CBM) of Green Ammonia (NH3) storage and handling infrastructure included within the Company’s Phase 1 development plan. All Ammonia infrastructure is designed to be compatible with LPG for commercial flexibility.
The Company’s Netherlands-based project development team continues to work closely together with external engineers and over the coming weeks will further develop the pre-FEED materials toward final submissions. Other deliverables within the overall pre-FEED package include Buildings requirements and layout, Fire Water Pump locations and requirements, Jetty and Quay Top Side Design, Utilities specifications, Equipment List, Tank Layout Drawings, and Operational Specifications of the Terminal.
The Company is executing on its strategy to parallel-track engineering design and development with permitting efforts to ensure continued progress to FID, which is anticipated 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.