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Tuesday, January 31, 2023

Big Red Day for Vision Energy Corp (OTCMKTS: VENG)

Vision Energy Corp (OTCMKTS: VENG) saw a big drop on Wednesday after the stock was downgraded to “pink” from otcqb. The stock also recently saw the “stock promotion” designation added on OTCmarkets. VENG was heavily promoted in the latter half of 2022 and rose to $26.10 highs as well as completed a 2 for 1 forward stock split changing its trading symbol from VIHD(D) to VENG. The recent drop has long been expected as Vision Energy has little to back up its $800 million plus market valuation. 

On Tuesday the Company reported the incorporation of new Dutch subsidiaries to accommodate strategic initiatives for prospective partners, operators and launching customers for its integrated Green Energy Hub development in North Sea Port of Vlissingen, the Netherlands. We will be updating on VENG so subscribe to Investmillion.com right now by entering your email in the box provided below.

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Vision Energy Corp (OTCMKTS: VENG) mission is to facilitate and advance the energy transition through origination, acquisition, and development of strategic energy assets. We employ proven technologies and operating methodologies to optimize asset performance and efficiencies for global supply chains seeking lower-carbon energy solutions. Vision Energy is committed to providing carbon abatement and renewable energy solutions whilst targeting attractive investment yields. Where possible, our projects are designed to leverage existing gas and power infrastructure for integration and distribution of reduced-carbon energy to global customers or supply-chains. The company pursues reliable offtake relationships and operating partnerships with energy industry participants and end users seeking carbon abatement across feedstocks and fuels. 

The Company via its subsidiary Evolution Terminals is developing a pioneering green energy hub with Phase 1 design for up to 400,000 cubic meters (CBM) of bulk storage capacity with dedicated deep-water jetty, quay wall, rail and truck loading/unloading facilities. Phase 2 and 3 plans including expansion of storage for low-carbon products and fuels, and integration of an Ammonia Cracking Facility to crack green ammonia to hydrogen. The Terminal is strategically situated within the ARA region at the mouth of the Westerheide Estuary, in North Sea Port of Vlissingen, the Netherlands; and is directly accessible from the North Sea without the need to transit locks and sluices or to navigate inland canals. The Terminal will provide its customers with a flexible liquid bulk storage solution and is being designed and built conforming to the safety requirements of the Dutch PGS 29 regulations, and is located in a strategic hub within the ARA region.  

On January 3 VENG submitted the Environmental Permit Application for its pioneering Green Energy Hub development in North Sea Port of Vlissingen, the Netherlands. The Environmental Permit Application consists of over 20 separate and substantial documents including design and layout drawings, detailed environmental studies and reports, and fire, risk and safety assessments. 

The submittal of the Environmental Permit Application has initiated the formal Permit Assessment process to be undertaken by relevant governmental authorities, and is another significant project milestone as the Company continues to execute its plan to deliver a pioneering Green Energy Hub for the import, storage and handling of renewable energy products, hydrogen carriers and low-carbon fuels. 

The Company’s next submittal will be the “Milieueffectrapportage”, or “MER”, a detailed Environmental Impact Assessment (“EIA”). The MER is planned to be filed on or before January 31, 2023; closely followed by the Phase 1 Construction Permit (“Omgevingsvergunning Bouw”), for the construction of up to 400,000 cubic meters (CBM) of tank storage capacity as well as jetty, truck and rail loading infrastructure. The application for the Construction Permit will be staged to accommodate further expansion of storage infrastructure in response to customer demands for increased green ammonia tank capacity as well as specific technical and operational requirements. 

The Company’s Project Management Team will continue to consult closely with the relevant municipal and provincial government authorities in support of the formal Permit Assessment process and as the Company maintains its target to achieve the award of all requisite Permits by Q3 and to take Final Investment Decision (“FID”) by Q4 2023. 

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On January 10 VENG announced the incorporation of new Dutch subsidiaries to accommodate strategic initiatives for prospective partners, operators and launching customers for its integrated Green Energy Hub development in North Sea Port of Vlissingen, the Netherlands. 

The Company has incorporated “Vision Hydrogen BV” as a project development company to develop, own and operate the Company’s planned Ammonia Cracking Facility, for back-cracking imported green ammonia to hydrogen gas as a service. It is planned that the Ammonia Cracking Facility will integrate with the Company’s import, storage and handling terminal development in Vlissingen via a short pipeline enabling dedicated storage and handling capacity for imported green Ammonia feedstock, subject to additional studies and obtaining all requisite permits and approvals. 

On December 2, 2022, the Company entered into a Memorandum of Understanding with Linde Engineering in connection with a mutual interest to participate in co-investment, development and operations associated with Hydrogen production through Ammonia back-cracking (please refer to Company News Release December 12, 2022). Vision Hydrogen BV plans to commence pre-feasibility, pre-development and initial permit preparation efforts in consultation with Linde Engineering to define the land area required for the facility, and to allocate suitable lands for detailed development and engineering. 

The Company has also incorporated “Evolution Terminals Operating BV”, a dedicated operating entity to jointly own and operate logistics infrastructure under a joint operating agreement on behalf of the terminal in the event that the terminal’s tank storage assets are owned by more than one strategic equity partner, and “Evolution Terminals SPV II BV”, a special purpose vehicle to be utilized for joint ownership of specific storage assets with a strategic launching customer or partner. 

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Currently trading at a $839 million market valuation VENG OS is 42,097,552. The Company has been heavily promoted and recently earned the “stock promotion” badge on OTCMarkets. The stock has been heavily promoted on online with a number of landing pages touting VENG and making materially false statements according to a recent update by the Company itself. Long term VENG cannot maintain current market valuation and could drop significantly as the promo dollars run dry. We will be updating on BRLL when more details emerge so make sure you are subscribed to investmillion.com by entering your email below.

Disclosure: we hold no position in VENG either long or short and we have not been compensated for this article.

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