Vision Energy Corporation announced 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.