Vision Hydrogen (OTCQB: VIHD) today announced that it has acquired a 100% interest in a 14 Ha port development project for the storage and distribution of low carbon and renewable fuels, including hydrogen carriers such as ammonia, methanol and liquid organics. The project is strategically located in Vlissingen (Flushing) at the mouth of the Westerschelde estuary in the Netherlands. It is well positioned to be the first terminal in Europe with a core focus on the storage of low carbon and renewable fuels (including hydrogen carriers from which clean hydrogen may be produced) for European markets and off-takers providing carbon abatement. The project is in an advanced stage of permitting, and the company targets the award of all necessary construction permits by the first quarter of 2023. Vision Hydrogen’ Swiss subsidiary VisionH2 Holdings AG has acquired EVO from First Finance Europe Ltd. for US$3.5 million in cash and 1.5 million shares of common stock valued at a price of $5.00 per share. First Finance is controlled by the company’s CEO. The transaction was considered and approved by a committee comprised of the independent directors of the company.
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About Vision Hydrogen Corporation
VisionH2 is a renewable energy company developing storage, handling and production facilities for the commercial, industrial and transportation sectors. VisionH2 is leveraging its proven track record in site procurement and permitting, accelerating pre-development and integration of infrastructure to store and distribute low-carbon products and fuels including green hydrogen and hydrogen carriers. By establishing and negotiating long-life customer commitments, the company ensures reliable offtake relationships with industry participants seeking to utilize hydrogen and hydrogen carriers as fuel, feedstock, and as a grid balancing and capacitance solution. VisionH2 is committed to providing the lowest carbon solution with the highest yield storage, handling and production services for the European renewable economy and supply chain. VisionH2 is a portfolio company of First Finance (www.FirstFinance.com), a private equity investment group with offices in Zurich, London and Vancouver. For more information about the company, visit www.VisionH2.com.
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