Cos. Partner To Find New Ways To Make Green Hydrogen
March 14, 2023 (Investorideas.com Newswire) A company owned by Jericho Energy Ventures Inc. is working with a Japanese gas company to find new materials used in making “green” hydrogen.
H2U Technologies, a portfolio company of Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTC PINK: JLM:FRA), is partnering with a Japanese gas company to develop low-cost electrolyzers for making “green” hydrogen from renewable energy sources like wind and solar.
The world’s energy suppliers are scaling up electrolyzer manufacturing as hydrogen is pushed as a clean and safe alternative to fossil fuels.
Hydrogen is the most abundant molecule in the universe, but it doesn’t occur by itself naturally on Earth and must be separated from water or hydrocarbon carbons using electrolyzers.
H2U and Tokyo Gas Co. Ltd. (TKGSY:OTCMKTS) have signed a multiyear joint development agreement to discover new materials that can be used to help extract the element.
“The cost of producing green hydrogen today is too high, and the reliance on rare and costly catalyst materials is not sustainable,” said H2U Chief Executive Officer Mark McGough. “Through scientific collaboration, our CDE (Catalyst Discovery Engine) will allow Tokyo Gas to rapidly discover novel materials so they can bring their own PEM electrolyzers to market and produce renewable hydrogen at affordable costs.”
Contemporary electrolyzer designs use rare and costly platinum-group metals like iridium. The companies hope to discover abundant alternative materials that cost a fraction of the price.
Jericho started in 2014 as an oil company, but in 2020 began to pivot toward green energy. The company continues to use profits from remaining oil and gas assets to fund its investments in zero-admission hydrogen technologies.
Newsletter writer Clive Maund of CliveMaund.com wrote for Streetwise Reports that hydrogen “is a fuel of the future” and that Jericho is “moving with the times.”
The Catalyst: Market ‘Holds Promise for Growth’
The U.S. Department of Energy said the hydrogen market “is in its infancy” but that it has the “potential for near-zero greenhouse gas emissions.”
“Hydrogen generates electrical power in a fuel cell, emitting only water vapor and warm air,” the agency wrote. “It holds promise for growth in both the stationary and transportation energy sectors.”
The element is abundant in our environment and the most abundant element in the universe. It’s stored in water, hydrocarbons (such as methane), and other organic matter.
Almost US$26 billion in United States taxpayer money is being made available for hydrogen projects because of recent acts of Congress, The Guardian said.
“Hydrogen is politically hot,” but only hydrogen coming from renewable sources – like the “green” hydrogen H2U and Tokyo Gas are working towards making – will have a role in a decarbonized future, the report said.
The Only By-Product Is Water
Jericho is also working toward solutions for how the fuel would be used. Recently, an independent third-party firm rated the company’s zero-emissions hydrogen boiler technology as nearly 100% fuel efficient.
Jericho also has announced that the Dynamic Combustion Chamber(TM), or DCC, boiler is being considered for deployment at major facilities around the world. Feasibility studies are being conducted or considered at 34 locations across seven industries and five continents, the company said.
As companies shift toward greener energy sources and look to lower their carbon footprint, Jericho hopes its boiler technology will be there for commercial heating, hot water, and industrial steam boilers.
Hydrogen Technologies, a fully owned subsidiary of Jericho, has patented its method for burning hydrogen and oxygen in a vacuum chamber to create high-temperature water and steam with no greenhouse gases or other pollutants.
The only by-product is water, which is recycled. It’s meant to replace existing boilers that burn coal, natural gas, diesel, or fuel oil.
The National Inflation Association predicted Jericho would be one of the market’s largest percentage gainers of 2023, reaching “levels that are many times higher than today.”
Jericho was also awarded the Solar Impulse Foundation’s “Solar Impulse Efficient Solution” label for the DCC boiler. The label seeks to identify solutions that hit high standards in profitability and sustainability.
Ownership and Share Structure
Around 35% of Jericho’s shares are held by management, insiders, and insider institutional investors, the company said. They include CEO Brian Williamson, who owns 1.26% or about 2.85 million shares; founder Allen William Wilson, who owns 0.87% or about 1.97 million shares; and board member Nicholas Baxter, who owns 0.5%, or about 1.1 million shares, according to Reuters.
Around 10% of shares are held by non-insider institutions, and 65% are in retail, the company said.
JEV’s market cap is CA$67.82 million, and it trades in a 52-week range of CA$0.63 and CA$0.26. It has 226.2 million shares outstanding, 158.8 of them floating.
1) Steve Sobek wrote this article for Streetwise Reports LLC. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Jericho Energy Ventures. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Jericho Energy Ventures, a company mentioned in this article.
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