In a May 12 Enterprise note, which is not a research report, Research Capital Corporation reported on Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTCMKTS), which has a proprietary Dynamic Combustion Chamber (DCC) hydrogen-based boiler that is "incredibly efficient" and emissions free.
Jericho Energy has engaged England-based UnitBirwelco to provide engineering support, procurement, manufacturing and fabrication services in relation to its DCC boiler. UnitBirwelco has such expertise with thermal equipment used in various industries.
Also, the Bruichladdich Distillery, located on a Scottish island, began a feasibility study earlier this year of how it could employ hydrogen combustion technology to lower its use of fuel oil. In that effort, the business is investigating if and how it could use Jericho Energy's DCC boiler instead of fuel oil to generate the heat and steam it needs for distilling its products.
Currently, Jericho Energy is talking to more than 12 companies about forming a partnership, noted Newman. The total energy demand of these prospective clients is about 39 megawatts (39 MW). Their industries are varied and include food and beverage, consumer products, chemicals and agriculture.
"Over the next 12 to 24 months, Jericho Energy hopes to deliver 3–5 single MW units to allow end users to test the functionality," the enterprise note stated. "Upon success, it is anticipated that the users will ramp up the scale of the module units to 5–10 MW."
The company, advancing the low-carbon energy transition, also aims to expand distribution of its boilers, using regional licensing agreements to do so.
The enterprise note stated that the current commercial and industrial boiler market is large, at $28 billion annually. Further, the market is expected to keep growing over the next seven years, by 5–7% annually.
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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.
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Disclosures from Research Capital Corporation, Jericho Energy Ventures Inc., Enterprise Note, May 12, 2021
At Research Capital Corporation, our mandate is to add value to the services we offer our clients with new and creative ideas. The Enterprise publication provides valuable insight into companies that have distinguished themselves among their peers or within their sector, are bringing innovative ideas into action and that embody add value for investors.
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THIS NOTE HAS BEEN PREPARED BY THE INSTITUTIONAL SALES GROUP BASED UPON GENERAL COMMENTS BY OUR ANALYSTS AND SHOULD NOT BE CONSTRUED TO BE A RESEARCH REPORT.
