RETRANSMISSION: Jericho Energy Ventures Leads Investment into New Class of Electrolyzer for Hydrogen Production with Chris Sacca’s Lowercarbon Capital and New Energy Technology
Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF) has announced a lead investment of USD$1.78 million in Supercritical Solutions, aimed at advancing its innovative electrolyzer technology for clean hydrogen production. This funding contributes to a total of USD$3.6 million raised, enhancing Supercritical's capacity to develop a solution that eliminates the need for costly hydrogen compressors. The global hydrogen market is set to expand significantly, with Bank of America projecting a $11 trillion investment opportunity linked to hydrogen by 2050.
- Jericho leads a successful Seed Series funding round with a total of USD$3.6 million raised.
- Supercritical Solutions' proprietary electrolyzer technology promises lower production costs through efficient high-pressure hydrogen output.
- Strong backing from prestigious investors including Chris Sacca's Lowercarbon Capital and Anglo American.
- The global hydrogen market could create USD$11 trillion in investment opportunities by 2050.
- None.
Jericho's Investment Highlights Differentiated Deal Flow and Public Investor Access to Early-stage, High-growth, Hydrogen-related Companies
NEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / January 19, 2022 / Jericho Energy Ventures (TSXV:JEV)(FSE:JLM0)(OTC PINK:JROOF) ("Jericho" or "JEV" or the "Company") is pleased to announce it has led a Seed Series fundraising round for Supercritical Solutions, Ltd., ("Supercritical"), a Company focused on developing its new class of water electrolyzer for the production of low-cost clean hydrogen. Jericho's USD
An underappreciated and fundamental flaw in electrolyzer design is the inability to output hydrogen at the pressures required for storage, transportation, and most end-use-cases. This is due to a number of factors, including the sensitivity of most electrolyzers' membranes to high pressures. As a result, expensive and maintenance-intensive compressors are required to be co-located with almost all electrolyzers, increasing the true cost and complexity of clean hydrogen. Supercritical has developed a new class of electrolyzer who's proprietary membraneless design enables it to exploit the benefits of supercritical water, outputting gases at over 200 bar of pressure. This delivers a step-change in efficiency for the production of hydrogen and eliminates expensive hydrogen compressors in most applications. Supercritical's technology takes direct aim at decarbonizing industrial hydrogen use cases - already a
Big Picture
Hydrogen is a required molecule for our global Net Zero ambition - that's why over 70 Countries have outlined Hydrogen Roadmaps for their decarbonization goals to utilize hydrogen as a fuel, feedstock, and store of energy. Bank of America¹ estimates that hydrogen could inhabit
Clean hydrogen is produced by splitting water (H2O) via renewable supplies of electricity in an electrolyzer. While the market for hydrogen is expected to grow 8x by 2050, with <
Why is this technology disruptive to the Hydrogen ecosystem?
Today's electrolyzers largely use a traditional membrane-based architecture and output hydrogen in the 10-40 bar pressure range. However, the set of applications for low-pressure hydrogen is limited. Almost every hydrogen storage, transportation, or application modality requires expensive multi-stage gaseous compression which can represent
Takeaway: Due to its low volumetric density (read: it takes up a lot of space), the storage, transportation, and utilization of hydrogen are nearly universally combined with compression for higher pressures. Fully eliminating or significantly reducing the need for costly and fault prone gaseous compression is critical to achieving the lowest cost of pressurized clean hydrogen for most applicable use cases. Supercritical's electrolyzer is the only technology to solve this.
How does the technology actually work?
Supercritical's unique electrolyzer design is able to tolerate and exploit the benefits of electrolysis of water under thermodynamic supercritical conditions - that is, water at high temperature and pressure. Importantly, the bonds between the hydrogen and oxygen atoms of water are weakened and as such require less electrical energy (i.e., lower cost) to split the bonds and free hydrogen atoms. This is important because 70
The challenge traditional electrolyzers face, operating at supercritical conditions, is that their membranes or diaphragms would disintegrate, and their physical structure would fail under these relatively high pressures and temperatures, resulting in failure of the electrolyzer.
Takeaway: Supercritical's innovative design enables the pressurization and heating of the feed water, the performance of electrolysis with reduced electrical energy, while separating the gases and recovering both the oxygen and hydrogen at high pressure.
A video highlighting Supercritical's breakthrough technology can be viewed here.
Don't just take our word for it, other groups are taking notice…
Supercritical has already won multiple government grants and accolades with participating partners including the UK Governments Green Distilleries Program with Beam Suntory for USD
Quote
"Jericho Energy Ventures provides a unique opportunity for retail investors to gain exposure to and support innovative, early-stage companies that are on the leading edge of the energy transition. Our emphasis on high-growth hydrogen related themes with a global reach makes sustainable investing simple for every investor," said Ryan Breen, Head of Corporate Strategy at Jericho Energy Ventures. "We are thrilled to lead the Seed fundraising round for Supercritical Solutions and believe the company's new class of electrolyzer has the potential to disrupt the large incumbent industrial hydrogen market, in addition to the exponential opportunity associated with increasing global clean hydrogen production. The blend of world-class co-investors, seasoned management team and first-of-its-kind technology at Supercritical provides a rare investment opportunity that we look forward to supporting and growing."
¹ "The Special 1 - Hydrogen primer," BofA Securities, September 23, 2020
² "Plugging into the Hydrogen Ecosystem," Jefferies International, November 9, 2021
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is a publicly traded, deep-tech venture capital and incubator platform, backing world-class Companies, founders, and technologies, leveraged to long-term decarbonization themes including hydrogen, carbon capture and energy storage. We believe the energy transition is complex and needs a specialist approach - making sustainable investing simple for every investor.
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
604.343.4534
adam@jerichoenergyventures.com
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and 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. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Although Jericho believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Forward-looking information and 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 information and statements which include, but are not limited to: the effects of and risks associated with the ongoing COVID-19 pandemic, the impact of general economic conditions, industry conditions and current and future commodity prices including sustained low oil prices, significant and ongoing stock market volatility, currency and interest rates, governmental regulation of the oil and gas industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities inherent in oil and gas exploration, development and production operations; liabilities inherent in Jericho's low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems; that Jericho's wholly owned subsidiary, Hydrogen Technologies, will deliver zero-emission boiler technology to the
Neither 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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FAQ
What was Jericho Energy Ventures' recent investment amount in Supercritical Solutions?
What total funding did Supercritical Solutions secure in their Seed Series round?
How does Supercritical Solutions' technology improve hydrogen production?
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