Vision Energy Concludes Pre-FEED Study

JERSEY CITY, N.J., June 05, 2023 (GLOBE NEWSWIRE) -- Vision Energy Corporation (OTC:VENG) ("Vision Energy” or the "Company”) is pleased to announce it has concluded the pre-FEED study for all Phase 1 Green Ammonia infrastructure at its Green Energy Hub development in North Sea Port of Vlissingen, the Netherlands.

In November 2022, the Company’s wholly owned subsidiary Evolution Terminals BV, engaged Linde Engineering GmbH to undertake a pre-FEED study with the objective to define the engineering basis for the project and to form the design concepts for the next development phase.

As a result of the pre-FEED outcomes, key design decisions have been made regarding storage tank configurations and supporting infrastructure to ensure compliance with all applicable national and international regulatory codes, policies, and safety standards. Technical feasibility has been proven and risks and their mitigation strategies and procedures are mapped.

The engineering scope of pre-FEED covered the following main project elements:

• Marine and Berthing Structures
• Storage Tanks for (Green) Ammonia ("NH3”), with LPG dual-use compatibility.
• Boil-Off Gas Unit (including Refrigeration Unit)
• NH3/LPG Rail, Truck and Barge Loading Facilities
• NH3/LPG Ship Loading/Unloading Facility
• Utility Units
• Buildings and Infrastructure
  

The following design and engineering documents have been issued:

• Basis of Process Design
• Main Equipment List
• Utility Consumption
• Process Description
• Process Flow Diagrams
• HAZID Report / Risk Study, including "Domino Effect” Report
• Process and Environmental Safety Documents
• Instrumentation and Control Concepts
• Electrical Specifications
• Detailed Plot-Plan

The Company is on track with its development plan to take a positive FID by December 2023, and in continuation of its efficient development strategy to parallel-track engineering with permitting efforts, the Company is now in the process of reviewing detailed technical and commercial proposals to award the FEED, with further engineering under the FEED-scope anticipated to commence in July 2023.

About Vision Energy
Vision Energy Corporation identifies energy commodities and focuses on originating and developing energy infrastructure projects and assets which facilitates the energy transition through low-carbon energy solutions. The Company leverages its experienced team with a vast proven track-record in site procurement, accelerating development permitting, facilities design, engineering studies and project management to deliver an efficient and method driven project development process. Vision pursues commercial relationships and operating partnerships with energy industry participants and off-takers seeking carbon abatement across feedstock and fuels. Vision Energy is committed to providing low carbon energy solutions whilst targeting an attractive investment yield, by utilizing and leveraging existing gas, power, and logistics infrastructure to enable import and or distribution of reduced-carbon energy for domestic and global value chains.

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

Media Contact
Jarrod Holland 
InvestorBrandNetwork (IBN)
Phone:  910.431.3322
Jarrod.Holland@InvestorBrandNetwork.com

Investor Contact
Scott McGowan 
InvestorBrandNetwork (IBN)
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.