Jericho Energy Ventures (JEV:TSX.V; JROOF:OTCMKTS) announced in a news release that its wholly owned subsidiary Hydrogen Technologies signed an exclusive intellectual property licensing agreement with Deuterium Heating in the United Kingdom. The two companies will focus initially on the United Kingdom (U.K.) and Ireland.
"With heat being the largest contributor to UK carbon emissions (accounting for over one-third of the country's output) there is a significant and time sensitive issue at hand which, collectively, HTI, Deuterium and its sister company Protium hope to solve," the company noted.
The agreement will "further commercialize HTI"s unique hydrogen-based cleanH2steam DCC™ boiler," the release stated.
"The partnership will allow Hydrogen Technologies to expand their geographical footprint across Europe while offering a zero emissions heating and steam technology directed at decarbonizing the $30 billion global commercial and industrial heating market."
The U.K. presents a sizable opportunity as the government, with its Net Zero initiative, aims to shift to using only clean energy for heat and industrial processes. Developing hydrogen solutions is a big part of how the region is working to and will achieve that goal.
"Through the combination of Hydrogen Technologies' expertise in hydrogen boiler technology and Protium's knowledge of the U.K. market and their project acumen demonstrated to date, we are able to offer a unique method for helping British businesses to achieve zero emission heat and steam solutions," Jericho Energy Ventures' Head of Corporate Strategy Ryan Breen said in the release. "Over the long term, this agreement should provide good visibility and access into high-growth European markets where we can drive sales of our cleanH2steam DCC boiler."
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her 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. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Jericho Energy Ventures. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) 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.
