Vision Energy Corp. (VENG) Files Application Initiating Formal Environmental Permit Assessment Process for Green Energy Hub Terminal Development Project in the Netherlands

• Vision Energy is pioneering a Green Energy Hub terminal development project for the importation, storage, handling, and distribution of low-carbon renewable fuels and hydrogen carriers, including green ammonia, methanol, and biofuels
• The company intends to construct the development in phases, with Phase 1 accommodating 400,000 cubic meters of renewable liquid bulk storage and supporting infrastructure
• Vision Energy has engaged environmental experts and specialist Netherlands-based consultancy firms to undertake detailed studies to support final permit applications for the development

Vision Energy (OTCQB: VENG), through its wholly owned subsidiary Evolution Terminals BV, is in the advanced stages of planning the construction of a Green Energy Hub terminal development in the North Sea Port of Vlissingen, the Netherlands. An integrated energy company, VENG envisions a development that will be capable of receiving seagoing ships, barges, and coasters, through a dedicated deep-water jetty, as well as trains and trucks that will access storage and handling facilities via rail- and roadways that lead to dedicated loading/unloading facilities.

The Green Energy Hub development is designed for the importation, storage, handling, and distribution of low-carbon energy products and fuels, including green ammonia, biofuels (liquid organics), and methanol, with the design and construction set to be undertaken in phases. As part of the Phase 1 development plan, Vision Energy intends to construct approximately 400,000 cubic meters (“CBM”) of renewable liquid bulk storage capacity, 150,000 of which will be allocated to green ammonia, with 180,000 CBM and 70,000 CBM allocated to renewable methanol and biofuels, respectively. It will also include jetty infrastructure.

In the Netherlands, companies that intend to undertake activities that have an impact on the physical environment, like the construction of the Green Energy Hub development, are required to apply for an environmental permit, pursuant to the Environmental Permitting Act (“Wabo”) (https://ibn.fm/ibafS). On its part, therefore, Vision Energy has engaged several environmental experts and specialist Netherlands-based consultancy firms to undertake detailed studies to support final permit applications for its Green Energy Hub development.

According to various announcements released in November 2022, the company has so far engaged:

• BMD Advies South-Netherlands (“BMD”), a full-service Quality, Health, Safety, and Environment (“QHSE”) partner, for environmental and construction permit coordination services; BMD is deploying a team of 10 consultants to prepare all required documents for the remaining permits and an Environmental Impact Assessment (“EIA”) (https://ibn.fm/bfMlJ)
• DGMR, a Netherlands-based engineering consultancy, for environmental studies and planning services; DGMR will provide specialist studies and reports on acoustic impact, external safety assessment and risk mitigation, air quality preservation, and nitrogen deposition calculations to support VENG’s environmental permit application (https://ibn.fm/GF0Mi)
• Rho Adviseurs, a Netherlands-based firm specializing in special planning and permit management, for the provision of specialist studies for the EIA and policy, process guidance, and spatial planning (https://ibn.fm/r6phe)

The concerted efforts of the different partners, as well as the company’s expanded project management and development team, have seen Vision Energy recently submit the Environmental Permit Application (“Omgevingsvergunning Milieu”) for the development. According to the January 3 announcement, the application comprises more than 20 separate and substantial documents, including design and layout drawings, detailed environmental studies and reports, and fire, risk, and safety assessments (https://ibn.fm/X1imj).

The submission sets the wheels in motion for the formal Permit Assessment process to be undertaken by relevant governmental authorities, another significant project milestone. Next, Vision Energy intends to file a detailed EIA (“Milieueffectrapportage” or “MER”) on or before January 31, 2023. Closely after that, the company plans to file the Phase 1 Construction Permit (“Omgevingsvergunning Bouw”) application for the construction of up to 400,000 CBM of tank storage capacity as well as rail, truck, and jetty storage infrastructure. According to the news release, the application for the Construction Permit will be staged to accommodate further expansion of storage infrastructure to meet customer demands.

Vision Energy maintains its earlier target to attain the award of all requisite permits by Q3 2023. Accordingly, its Project Management Team will continue to work closely with relevant municipal and provincial government authorities to support the Permit Assessment process.

For more information, visit the company’s website at www.VisionEnergy.com.

NOTE TO INVESTORS: The latest news and updates relating to VENG are available in the company’s newsroom at https://ibn.fm/VENG

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