Jericho Energy Ventures: DCC(TM) Hydrogen Boiler Feasibility Studies Now Span 34 Facilities, 7 Industries and 5 Continents
Jericho Energy Ventures (OTC PINK:JROOF) announces a significant increase in demand for its DCC™ hydrogen fueled boiler, designed for zero-emission operations. As of 2022, feasibility studies are taking place at 34 sites across 7 industries, including Food & Beverage (11 studies), Auto, and Pharma (7 each). CEO Brian Williamson emphasizes cost-effective solutions for reducing emissions, particularly post-Inflation Reduction Act, potentially enhancing the sales pipeline. The DCC™ has demonstrated nearly 100% GHG-free fuel combustion efficiency, presenting a revolutionary alternative to traditional fossil fuel boilers.
- Increased demand for the DCC™ hydrogen boiler with 34 feasibility studies across 7 industries.
- DCC™ demonstrates nearly 100% GHG-free fuel combustion efficiency.
- Potential sales pipeline boost following the Inflation Reduction Act, which may make green hydrogen more economically viable.
- None.
Climate conscious organizations leading the way to lower emissions, seeking to transition their commercial operations and facilities to lower, and ultimately zero-emissions, with the DCC™
NEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / November 2, 2022 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) ("Jericho" or "JEV" or the "Company") is pleased to report that potential demand for its breakthrough, zero-emission DCC™ hydrogen fueled boiler, developed by its wholly owned subsidiary, Hydrogen Technologies ("HT"), has increased significantly to date in 2022 as numerous multinational companies and organizations from a diverse range of industries are working with HT to explore the utilization of DCC™ clean steam generation at their facilities.
DCC™ boilers are now being considered for deployment at major facilities across the globe, with DCC™ feasibility studies being conducted or considered at 34 site locations across 7 industries and 5 continents. The industries with the most feasibility studies in progress or under review are Food & Beverage with 11, followed by Auto and Pharma, with 7 each.¹
Brian Williamson, CEO of JEV, said, "Leading climate conscious organizations are understanding that DCC™ clean steam generation offers a novel, immediate, cost-effective solution to reducing their operational emissions. We anticipate seeing some of our current feasibility study clients move to secure the DCC™ for deployment at their facilities in the coming months. Important to note is that our current roster of clients predates the recent passage of the Inflation Reduction Act, which we expect to put green hydrogen at cost parity with grey and should only serve to strengthen our sales pipeline in the U.S. with major corporations."
The DCC™ is the world's only hydrogen boiler with zero CO2 and zero Greenhouse Gas emissions and has been validated as operating with an overall GHG-free fuel combustion efficiency of nearly
The DCC™ was designed to replace existing boilers that burn coal, natural gas, diesel, or fuel oil, which are estimated to account for over
About Hydrogen Technologies
Hydrogen Technologies (HT) offers its award-winning CLEAN, ZERO-EMISSION ENERGY SOLUTION for the Commercial and Industrial Boiler Market. There are a wide range of applications for our cleanH2steam DCC™ Boiler, which work much like traditional commercial heat, hot water and industrial steam boilers: be it district heating, food processing, chemical refining, pharmaceuticals, pulp and paper mills or industrial manufacturing processes, HT has a reliable, efficient and clean solution for your GHG and ESG goals.
Website: https://hydrogentechnologiesinc.com/
Twitter: https://twitter.com/h2_technologies
LinkedIn: https://www.linkedin.com/company/hydrogen-technologies-inc/
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the approximately
Website: https://jerichoenergyventures.com/
Twitter: https://twitter.com/JerichoEV
LinkedIn: https://www.linkedin.com/company/jericho-energy-ventures
YouTube: https://www.youtube.com/c/JerichoEnergyVentures
CONTACT:
Adam Rabiner
Director of IR
Jericho Energy Ventures
Tel. 604.343.4534
adam@jerichoenergyventures.com
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho's control. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "will" or "may not" occur. Specifically, this news release contains forward-looking statements relating to, among others, future demand for DCC™ boilers.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho's public filings available at www.sedar.com.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company's (or its subsidiaries') technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
* Grand View Market Research, 2020
¹ Includes completed, underway and proposed DCC™ feasibility studies
² Process Engineering Associates, LLC, DCC™ Efficiency Test Report, August 2022
³ IEA.org, 2019
SOURCE: Jericho Energy Ventures Inc.
View source version on accesswire.com:
https://www.accesswire.com/723368/Jericho-Energy-Ventures-DCCTM-Hydrogen-Boiler-Feasibility-Studies-Now-Span-34-Facilities-7-Industries-and-5-Continents
FAQ
What is the significance of the DCC™ hydrogen boiler for Jericho Energy Ventures?
How many industries are exploring DCC™ boiler feasibility studies?
What impact did the Inflation Reduction Act have on Jericho Energy Ventures?
What efficiency does the DCC™ boiler achieve?
How many facilities are currently considering the DCC™ boiler?
