Vision Hydrogen (OTCQB: VIHD) today announced that it has monetized 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 (“purchaser”), wholly-owned by its former co-CEO Andre Jurres. According to the update, the purchaser paid total consideration of US$23,627,274, consisting of 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 $7.00 per share, reducing the company’s outstanding common shares by 8.3% to 19,548,776. “Consistent with our plan to fund our development trajectory through monetizing early-stage development projects, VisionH2 is pleased to have established proof of concept with our initial two projects,” said Andrew Hromyk, Vision Hydrogen CEO. “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.”
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About Vision Hydrogen Corporation
VisionH2 is a renewable energy company developing clean hydrogen 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 grid integration to produce low-carbon and green hydrogen. By establishing and negotiating long-life power supply commitments, the company ensures reliable offtake relationships with industry participants seeking to utilize hydrogen as fuel, feedstock, and as a grid balancing and capacitance solution. VisionH2 is committed to providing the lowest carbon solution with the highest yield hydrogen production, storage and distribution 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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