Jericho Energy Ventures’ Portfolio Company H2U Achieves Unprecedented Performance and Durability with Non-Iridium Catalysts
- H2U's new catalyst materials have a projected lifetime of 25,000 hours, reducing capital expenses and producing more affordable hydrogen.
- None.
- Non-Iridium Materials Tackle Supply Chain Hurdles for Sustainable Hydrogen Production
TULSA, OK / ACCESSWIRE / September 26, 2023 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce that its portfolio company, H2U Technologies ("H2U"), a next-generation electrolyzer developer, has reported results from durability tests on new, lower-cost, iridium-free catalyst materials that demonstrate a projected lifetime of 25,000 hours .
JEV co-led H2U's 2021 Series A financing alongside Dolby Family Ventures, Hess Corporation (NYSE: HES) and Motus Ventures, and also has an appointee to H2U's Board of Directors.
H2U's new durability test results represent a significant milestone and address supply chain bottlenecks for sustainable hydrogen production with Proton Exchange Membrane (PEM) electrolyzers.
Discovering non-iridium catalysts for commercial applications has been challenging, as novel materials often degrade rapidly under the harsh acidic conditions of the oxygen evolution reaction (OER). For perspective, the best iridium-free catalysts known to date offer lifetimes of approximately 1,000 to 1,400 hours. With a baseline of over 4,000 hours of continuous operation thus far, H2U's iridium-free catalysts, tested at 10x higher current density, are demonstrating projected lifetimes of over 25,000 hours. H2U catalysts are projected to last at least six years for targeted applications, such as in PEM electrolyzers paired with curtailed renewables.
H2U's innovative catalysts are cost-effective and more readily available than iridium. Utilizing these affordable alternatives expands the possibilities for electrolyzer stack design, enabling H2U to explore avenues unrestricted by ultra-thin catalyst layers and low usage of catalysts. H2U believes this flexibility should significantly reduce capital expenses, producing more affordable delivered hydrogen.
The full H2U news release regarding its milestone durability tests can be viewed at: https://www.h2utechnologies.com/post/h2u-achieves-unprecedented-performance-and-durability-with-non-iridium-catalysts .
For more information about H2U's pioneering work in discovering long-lasting, low-cost catalyst materials for hydrogen production, visit H2Utechnologies.com . H2U can also be found on LinkedIn and X/ Twitter .
About H2U Technologies, Inc.
H2U Technologies is a California-based developer of low-capital-cost, iridium-free proton exchange membrane (PEM) electrolyzers that are particularly suited for pairing with renewable energy sources. The company leverages its Catalyst Discovery Engine™ (CDE™) capabilities to develop novel catalysts for use in its electrolyzer systems. The world-class technology featured in H2U Technologies' products stems from ten years of research and development at Caltech, funded by the U.S. Department of Energy. For more information, visit https://www.h2utechnologies.com/.
About Jericho Energy Ventures Inc.
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 Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyzer platform) and Supercritical Solutions (developing the world's first, high pressure, ultra-efficient electrolyzer). Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production into the current elevated commodity price environment.
Website: https://jerichoenergyventures.com/
Twitter: https://twitter.com/JerichoEV
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CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Dir. of Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
investorrelations@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 H2U's iridium-free catalyst materials.
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.sedarplus.ca.
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.
SOURCE: Jericho Energy Ventures Inc.
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