Vision Hydrogen monetises first two development projects
Published by Isabelle Keltie,
Editorial Assistant
Global Hydrogen Review,
Vision Hydrogen Corp. has announced that it has monetised its 100% interest in its Vlissingen green hydrogen development project and its 50% interest in its Terneuzen green hydrogen development project through the sale of its Dutch interests to Volt Energy BV, wholly-owned by its former co-CEO Andre Jurres. The Purchaser paid total consideration of US$23 627 274, being US$11 250 000 in cash and 1 768 182 shares of the Company’s common stock owned by the Purchaser valued at the current market price of US$7 per share, reducing the Company’s outstanding common shares by 8.3%, to 19,548,776 shares of common stock outstanding. The cash proceeds realised by the Company, before deduction of transaction costs, represent a payment of approximately US$0.58 cents per share.
Andrew Hromyk, Vision Hydrogen CEO said: “Consistent with our plan to fund our development trajectory through monetising early-stage development projects, VisionH2 is pleased to have established proof of concept with our initial two projects. With numerous hydrogen and carbon abatement projects in very early stages of development across Europe and our proven method economically rewarded much earlier than forecast, the Company is well positioned for future growth.”
For more news and technical articles from the global hydrogen sector, read the latest issue of Global Hydrogen Review magazine.
Global Hydrogen Review's Spring 2022 issue
The inaugural issue of Global Hydrogen Review is full of detailed technical articles and case studies exploring the entire spectrum of hydrogen production and its applications worldwide. This issue covers a range of topics including the current status of blue hydrogen, how cryogenic technology is helping to shape the energy transition, and integrity management of hydrogen pipelines. Other features include green hydrogen, simulation, transportation, compressor technology, and much more.
Read the article online at: https://www.globalhydrogenreview.com/hydrogen/24052022/vision-hydrogen-monetises-first-two-development-projects/
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