RETRANSMISSION: Jericho Energy Ventures Teams up with Protium and Bruichladdich Distillery to Deploy Its Revolutionary Green Hydrogen Technology, Consortium Awarded USD$3.5 Million Funding from UK Government Green Distilleries Competition

Rhea-AI Summary

Jericho Energy Ventures (JROOF) has partnered with Bruichladdich Distillery and Protium to launch a groundbreaking project to decarbonize whisky production using innovative green hydrogen technology. The project features the deployment of Jericho's Dynamic Combustion Chamber (DCC^TM), a zero-emission boiler. This initiative received USD $3.5 million from the UK Government's Green Distilleries Competition, showcasing a significant step in sustainable practices within the beverage industry. The pilot could serve as a model for North American brands aiming to achieve sustainable operations.

Positive

• Secured USD $3.5 million funding from the UK Government's Green Distilleries Competition.
• Deployment of innovative, zero-emission DCC^TM boiler technology marks a significant advancement in decarbonization.
• Project positions Jericho as a leader in sustainable hydrogen technologies for industrial applications.

Negative

• None.

• Team of challenger brands spanning North America and the UK join forces to decarbonize Scottish whisky distillery using revolutionary green hydrogen and heat combustion technology
• The project will see the inaugural deployment of Jericho Energy Ventures' innovative, zero-emission boiler solution (DCC^TM) with Remy Cointreau-owned Bruichladdich and Protium
• Project could act as the blueprint for North American brands accelerating ambitious decarbonization strategies
• Project team awarded USD $3.5 million from UK Government's Green Distilleries Competition

NEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / November 29, 2021 / Jericho Energy Ventures' (Jericho) (TSXV:JEV)(Frankfurt:JLM0)(OTC:JROOF), wholly owned subsidiary Hydrogen Technologies (HT), is setting new standards with the world's first zero-emission, closed-loop hydrogen boiler, as part of a revolutionary project with Scottish Whisky Distillery, Bruichladdich, and leading UK-based green hydrogen energy company, Protium, to help decarbonize the distillery's operations.

Led by Protium, the demonstration project will see Jericho's innovative boiler solution - the Dynamic Combustion Chamber* (DCC^TM) - which leverages best-in-class combustion technology to be installed to heat the stills used to create Bruichladdich's globally renowned Scotch, as well as their artisanal gin, The Botanist, thus removing a major contributor to the brand's overall carbon emissions.

This pilot project marks the first global deployment of the DCC™ following an in-depth feasibility study in early 2021 by Bruichladdich and Protium, the exclusive licensee for the DCC™ in the UK and Ireland. The UK Government has supported the project through its Green Distilleries Competition, with the project team awarded USD$3.5 million through the UK Government's Department for Business, Energy & Industrial Strategy (BEIS) Net Zero Innovation Portfolio.

Dubbed HyLaddie, the project represents a new era for decarbonization projects, marking one of the first cross-border green hydrogen projects with a team of challenger brands collaborating across the US, Canada, England and Scotland.

WATCH: Joint Jericho-Protium-Bruichladdich Video HERE

Commenting on the project, Brian Williamson, CEO of Jericho, said, "We are thrilled that the inaugural deployment of the DCC™ is with none-other than Remy Cointreau-owned Bruichladdich, one of the most prestigious and progressive distilleries, who shares our vision of forging a sustainable future. We look forward to working with Bruichladdich and the Protium teams to implement the ambitious decarbonization project with our game-changing zero-emission technology."

"Now that COP26 has come and gone, we expect to see an increase in large corporates and multi-nationals expediting their global decarbonization efforts. I'm really proud to partner with other challenger brands across various jurisdictions so that we can collectively pioneer change while benefitting from international expertise."

With 30% of the world's greenhouse gas emissions stemming from low, medium, and high-grade heat applications, the decarbonization of thermal operations plays a vital role in achieving global net-zero targets. Green hydrogen solutions enable hard-to-abate sectors, such as the food and beverage manufacturing industry, to reduce their environmental impact - the successful deployment of the DCC™ will provide an example for both commercial and industrial heat-intensive sectors to follow suit.

Douglas Taylor, CEO of Bruichladdich Distillery, comments, "Sustainability is in our DNA and is at the heart of everything we do. Leveraging Jericho's DCC™ technology will have an enormous impact on the success of HyLaddie - a project we are extremely excited about as it can totally transform our approach to sustainability. Many distilleries across Scotland are making serious steps forward in decarbonizing their energy requirements, and we believe that hydrogen has a future in the Scotch industry. We're thrilled to bring a team of experts from the UK and North America together to make our dream of being a net zero company a reality."

Also commenting on the project, Chris Jackson, CEO of Protium, said, "Protium is delighted to accelerate our work with Bruichladdich to decarbonize their distilling process, working with our partners Jericho Energy Ventures as well as Petrofac and ITP Energised."

"The drinks sector has been focused on decarbonization, with the Scotch Whisky Association (SWA) targeting net zero emissions across the industry by 2040. Despite this focus, demonstrating viable technologies has been slow, so we believe that the successful deployment of the DCC™ will provide an important precedent for other industries to turn to when exploring options to decarbonize their thermal operations. There's an enormous industry in the US that could benefit from this technology, and I am excited to work with our partners Jericho Energy Ventures to demonstrate how this project could be a blueprint for others in North America to follow suit."

The announcement of the consortium's hydrogen demonstration project follows a string of decarbonization updates post-COP26 and represents a much-needed gear change in global decarbonization projects, notably with the recent signing of the Bipartisan Infrastructure Bill by the Biden Administration - a move which will designate $9.5 billion towards clean hydrogen programs[1]. Of that sum, $8 billion will be dedicated to at least four regional clean hydrogen hubs[2], one of which will be dedicated to demonstrating hydrogen use in heating.

The successful demonstration of the DCC™ will open the door not just for other distilleries in the US embarking on their decarbonization journeys, but it will also pave the way for other operators across a variety of industries who are accelerating their net zero activities.

-ENDS-

NOTES TO THE EDITOR

* The DCC™ leverages revolutionary technology and is the world's first zero-emission megawatt-scale, closed loop hydrogen boiler that generates high temperature steam, using only oxygen and hydrogen that is reacted in a vacuum. The DCC™ does not require a smokestack or any other energy dissipating exhaust, eliminating any emissions of CO2, NOx and SOx. The only by-product of the reaction is water that can be recycled.

Further information - media

Imogen Kranz, Senior Consultant
protium@boldspace.com
+44 (0) 7465 941392

Further Information - investors

Adam Rabiner, Director of IR
Jericho Energy Ventures
604.343.4534
adam@jerichoenergyventures.com

About Jericho Energy Ventures
Jericho Energy Ventures is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems. Jericho's wholly owned subsidiary, Hydrogen Technologies, delivers patented, zero-emission boiler technology to the $30 Billion Commercial & Industrial heat and steam industry in addition to its investment in H2U's electrocatalyst and low-cost electrolyzer platform.

www.jerichoenergyventures.com

About Bruichladdich

Bruichladdich Distillery is located on the remote Scottish island of Islay and was built in 1881. The distillery crafts four different spirits including, Bruichladdich, unpeated Islay single malt Scotch whisky; Port Charlotte, heavily peated Islay single malt Scotch whisky (40PPM); Octomore, the world's most heavily peated Scotch whisky series (80+PPM); and The Botanist Gin, the first Islay dry gin.

Bruichladdich Distillery matures and bottles all their single malts on the island of Islay. They are due to install on-site maltings in the near future, which will enable them to complete a proportion of their annual production on the island. Bruichladdich Distillery is the largest private employer on the island of Islay.

www.bruichladdich.com

About The Botanist

The Botanist is conceived, distilled and hand-crafted on Islay using 22 foraged island botanicals at Bruichladdich Distillery.

A professional forager, James Donaldson, hand-picks the botanicals for the gin one by one throughout spring, summer and autumn. The botanicals are then dried carefully before being distilled.

www.thebotanist.com

About Protium
Protium is a UK-based green hydrogen energy services company, engaged in designing, developing, financing, owning and operating green hydrogen and renewable energy infrastructure assets, to help our clients to achieve net zero energy emissions.

With offices in London and Caerphilly, and a growing presence in Scotland, we are pioneers in the transition to a distributed, decarbonised, future energy system.

protium.green

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 $30 Billion Commercial & Industrial heat and steam industry; the performance of H2U's electrocatalyst and low-cost electrolyser platform and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information and 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 information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

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.

[1] Orrick, Key Hydrogen Provisions of the Bi-Partisan Infrastructure Plan, 2021

[2] Fuel Cell & Hydrogen Energy Association, Bi-Partisan Infrastructure Bill Clean Energy Programs 2021

SOURCE: Jericho Energy Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/675082/RETRANSMISSION-Jericho-Energy-Ventures-Teams-up-with-Protium-and-Bruichladdich-Distillery-to-Deploy-Its-Revolutionary-Green-Hydrogen-Technology-Consortium-Awarded-USD35-Million-Funding-from-UK-Government-Green-Distilleries-Competition

FAQ

What is Jericho Energy Ventures' latest project involving green hydrogen?

Jericho Energy Ventures has partnered with Bruichladdich Distillery and Protium to deploy its zero-emission Dynamic Combustion Chamber (DCC^TM) technology to decarbonize whisky production.

How much funding did Jericho Energy Ventures receive for its green hydrogen project?

Jericho Energy Ventures received USD $3.5 million from the UK Government's Green Distilleries Competition for its decarbonization project.

What is the significance of the DCC^TM boiler technology?

The DCC^TM is the world's first zero-emission, closed-loop hydrogen boiler, designed to eliminate carbon emissions in industrial operations.

How could this project influence North American brands?

This project could serve as a blueprint for North American brands looking to implement ambitious decarbonization strategies.

When was the announcement made regarding Jericho Energy Ventures' collaboration?

The announcement regarding the collaboration between Jericho Energy Ventures, Bruichladdich Distillery, and Protium was made on November 29, 2021.