Clean Tech Co. Partners To Build Hydrogen Boiler Plants

Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTC; JLM:FSE) has announced a partnership with two other companies to manufacture, implement, and service a new hydrogen steam plant that can permanently eliminate the CO2 equivalent of about 5,000 cars.

The HSP3000 uses Dynamic Combustion Chamber™ hydrogen-fueled boilers designed by Jericho's subsidiary, Hydrogen Technologies.

Sofinter Group will build the units, which will be scalable and come pre-assembled in container-sized units, and EXOGEN Hydrogen Solutions will offer them as an integrated product, including hydrogen production and storage units.

The product and partnership should have a positive effect on Hydrogen Technologies' sales commitments in the second half of the year, Atrium Research analyst Nicholas Cortellucci wrote in a July 13 research note.

The product and partnership should have a positive effect on Hydrogen Technologies' sales commitments in the second half of the year, Atrium Research analyst Nicholas Cortellucci wrote in a July 13 research note.

"Hydrogen Technologies . . . has developed a cutting-edge zero-emission hydrogen steam boiler system which is positioned to disrupt one of the largest carbon-emitting industries in the world, steam boilers," wrote Cortellucci. He rated the stock a Buy with a CA$0.40 per share target price.

The International Energy Agency wrote that more hydrogen technology and projects are needed to meet a net-zero emissions scenario by 2050.

"Faster action is required on creating demand for low-emission hydrogen and unlocking investment that can accelerate production scale-up and deployment of infrastructure," the agency wrote.

The Catalyst: Promise for Growth

DCC™ boilers burn hydrogen and oxygen in a vacuum chamber to create high-temperature water and steam with no greenhouse gases or other pollutants.

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 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 product will be a breakthrough, zero-emissions, hydrogen-powered steam solution for industrial steam and thermal applications," Cortellucci wrote. "The DCC technology allows for no smokestack or hazardous emissions management systems."

While the hydrogen market "is in its infancy," it has the "potential for near-zero greenhouse gas emissions," the U.S. Department of Energy said.

"It holds promise for growth in both the stationary and transportation energy sectors," the agency wrote.

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.

Experienced Partners

Sofinter Group provides plants and parts for industrial steam production, power generation, and waste and water treatment. Its Macchi brand is a worldwide leader in the design and construction of industrial boilers and heat recovery systems.

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.

EXOGEN offers end-to-end hydrogen energy solutions to help companies meet net-zero targets. Jericho and EXOGEN have been working together since they signed a memo of understanding last year to bring the DCC™ technology to Europe.

"JEV's DCC™ Boiler will be a key enabler to meeting net-zero targets for hard-to-abate industry, commerce, and the built environment – such as district and campus heating," EXOGEN co-founder and Chief Executive Officer Mario Reinisch said at the time.

The steam plant also has other benefits, the company noted.

"The HSP3000 can also eliminate all NOx, CO2, and other GHG emissions from industrial steam and district heating applications, potentially allowing clients to harvest carbon credits," Cortellucci wrote. "We expect the product launch to expedite sales commitments across various industries including, Pulp & Paper, Food & Beverages, Pharmaceuticals, Industrial Chemicals, and O&G (oil and gas)."

'Moving With the Times'

Jericho started as an oil company but is pivoting toward green energy. It continues to use profits from oil and gas assets to fund its investments in zero-emission 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 National Inflation Association predicted Jericho would be one of the market's largest percentage gainers in 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$58.73 million, and it trades in a 52-week range of CA$0.46 and CA$0.22. It has 248.14 million shares outstanding, 178.38 million of them floating.

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1. Jericho Energy Ventures Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. 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 Inc..
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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