JERSEY CITY, N.J., Feb. 06, 2023 (GLOBE NEWSWIRE) -- Vision Energy Corporation (OTCPINK:VENG) (“Vision Energy” or the “Company”) is pleased to announce it has concluded a detailed marine simulation study for the proposed design and future operations of jetty and quay wall infrastructure that will serve its Green Energy Hub in North Sea Port of Vlissingen, the Netherlands.
The Company’s wholly owned subsidiary, Evolution Terminals BV, engaged Maritime Research Institute Netherlands (“MARIN”) to carry out the study, in cooperation with North Sea Port authority. MARIN is an internationally operating and recognised leading independent institution for maritime research with over 400 specialists, with headquarters in Wageningen, the Netherlands. MARIN strives for clean, smart and safe shipping and sustainable use of the sea and is an independent knowledge partner for the maritime sector, government and society.
The purpose of the study was to determine whether arrival and departure maneuvers to and from the Company’s proposed new jetty can be conducted in a safe and efficient manner and to assess any impact the proposed new jetty may have on other vessel traffic in the Port. The Company’s proposed new jetty and quay wall infrastructure is designed to receive seagoing tankers up to VLGC size for bulk import of products such as refrigerated LPG and Green Ammonia; and for the mooring of barges, coasters and bunker vessels that will be loaded for supply and distribution of goods to customers and end users.
The conclusion of the simulation study is positive and determined that the arrival and departure maneuvers to and from the Company’s proposed new jetty can be conducted in a safe manner under the tested weather conditions and current operating circumstances. The Company will continue to work closely with the Pilots from North Sea Port to prepare detailed operating and training manuals for arrival and departure maneuvers and will further analyze the tidal forces that occur while vessels are moored, particularly during high-tide.
The Company is concluding Permit applications for its Phase 1 development plan and has revised the target date for submittal of the definitive “Milieueffectrapportage” (“MER”), a detailed Environmental Impact Assessment, from January 31 to on or before February 28, 2023. The Company is actively engaged in commercial discussions with prospective launching customers and will continue to execute its strategy to parallel-track engineering efforts whilst Permit applications are being assessed, in pursuit of its target to achieve 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.