- A total of 194 parties (including the European Union) have joined the Paris Agreement intending to reach carbon-neutral status by 2050 to reduce the impact of global climate change
- Vision Energy’s Green Energy Hub in the Netherlands will help with import, storage, and distribution of low-carbon renewable fuels and hydrogen carriers
- The company plans for first operations to commence in 2026, with the terminal running 24 hours a day, 365 days a year
Climate change is a global emergency with negative impacts beyond national borders – requiring cooperation and collaborative solutions amongst nations and world leaders. The Paris Agreement is a legally binding international treaty that sets long-term goals to guide all nations, with 194 parties (193 States plus the European Union) joining the Agreement so far. The goals of the Paris Agreement include:
- Substantially reducing global greenhouse gas emissions to limit the global temperature increase in this century to 2 degrees Celsius while pursuing efforts to limit the increase even further to 1.5 degrees,
- Reviewing countries’ commitments every five years, and
- Providing financing to developing countries to mitigate climate change, strengthening resilience, and enhancing abilities to adapt to climate impacts.
The Agreement provides a durable framework for guiding the global effort and shifting toward net-zero emissions worldwide. Implementation of this Agreement is also essential for achieving Sustainable Development Goals.
Vision Energy (OTCQB: VENG) 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. Through its wholly-owned subsidiary, Evolution Terminals BV (“ETBV”), Vision Energy is pioneering a Green Energy Hub terminal development project for the import, storage, and distribution of low-carbon renewable fuels and hydrogen carriers, strategically located in the North Sea Port of Vlissingen at the mouth of the Westerschelde estuary in the Netherlands.
Vlissingen has been an important harbor for centuries. Its strategic location within the ARA region allows for the development of a pioneering state-of-the-art bulk liquid storage terminal for new energies and fuels. It adjoins the Scheldt River, connecting the terminal to the Ports of Antwerp, Ghent, and Terneuzen, as well as the European inland waterway infrastructure.
ETBV is ideally positioned to be a compelling partner for customers seeking to build flexible downstream capacity, those seeking to initiate or maximize trade flows, or those seeking distribution of low-carbon energy products into Europe. The port’s location in Western Europe and its infrastructure make it a true multimodal port. ETBV plans for the first operations to commence in 2026, operating 24 hours a day, 365 days a year. ETBV will also feature the following:
- A dedicated jetty that will have berths for seagoing vessels and inland barges and offer a draught of up to 17 meters
- STS operations available from a permanent mooring opposite the jetty location
- Tank-to-tank transfer and product circulation
- Rail and multi-spur loading facilities for rail tanker carriages with connections to the European Railway network
- Dedicated road tanker truck loading facilities
The global hydrogen energy storage market was valued at $14.69 billion in 2021 and is expected to grow at a CAGR of 4.4% from 2022 to 2030. By 2030, the value is expected to reach $21.66 billion, driven by the expansion of alternatives to fossil fuels (https://nnw.fm/Ll2S1). Most of the world has dedicated itself to a carbon-neutral footprint by 2050, which requires the replacement of fossil fuels with more carbon-neutral alternatives.
ETBV is currently developing its green energy hub with Phase 1 assets comprising up to 400,000 cubic meters of bulk liquid storage capacity. Vision Energy is permitting further expansion of its storage facilities, and plans are underway to integrate an ammonia cracking facility to crack imported green ammonia into hydrogen gas for distribution into Europe.
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://nnw.fm/VENG
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