Providing Solutions for Storage of Renewable Energy
NetworkNewsWire Editorial Coverage: A scientific consensus exists that the world must slash carbon emissions and reach net zero by 2050 to avoid climate catastrophe. However, the enormous challenge to keep the planet habitable and meet emissions targets in the next 27 years is fraught with complexities that will not be solved by a simple single-source solution. Wind and solar are gaining traction, but battery life for transportation and energy storage for use in peak demand pose significant challenges. Against this backdrop, hydrogen is fast emerging as one of the most reliable potential alternatives to fossil fuels; a plus is that the energy produced can be safely and effectively stored. Experts believe that “clean” hydrogen could quickly displace fossil fuels in heavy industry, such as steel making or heavy transport, and provide a clean alternative in many other applications. If the world is truly serious about reaching carbon neutrality by 2050, hydrogen use could easily jump four to seven times from current levels, according to a report from the International Renewable Energy Agency (“IRENA”). Hydrogen is so attractive that the European Union launched a €3 billion green hydrogen bank to support the sector, and the United States introduced a massive tax credit of $3/kg to the production of green hydrogen via the Inflation Reduction Act (“IRA”). Seizing this opportunity, Vision Energy Corp. (OTCQB: VENG) (Profile) is working to develop solutions to facilitate carbon-abatement and the supply of low-carbon and renewable energy products and fuels to the commercial, industrial and transportation sectors. Through its wholly owned subsidiary Evolution Terminals BV, Vision Energy is pioneering a Green Energy Hub terminal development project for the import, storage and distribution of low-carbon renewable fuels and hydrogen carriers, strategically located in the North Sea Port of Vlissingen at the mouth of the Westerschelde estuary in the Netherlands. Other notable companies spearheading the shift away from fossil fuels include Beam Global (NASDAQ: BEEM), Air Products and Chemicals Inc. (NYSE: APD), NextEra Energy Inc. (NYSE: NEE) and Brookfield Renewable Partners L.P. (NYSE: BEP), which are investing…
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