Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTC; JLM:FSE) announced that portfolio company H2U Technologies has seen strong results for a new iridium-free catalyst to make "green" hydrogen for the new economy.
The new catalyst demonstrated a lifetime of more than 25,000 hours vs. 1,000 to 1,500 hours for current iridium-free catalysts during durability tests, Jericho said.
"This represented a significant milestone on H2U's path to addressing bottlenecks in the sustainable hydrogen supply chain," Atrium Research analyst Nicholas Cortellucci wrote in an updated research note. He maintained his Buy rating with a CA$0.50 per share target price.
The company also recently announced that its European Union partner, Exogen Hydrogen Solutions, has signed a memo of understanding with Lhyfe to offer decarbonization solutions for industrial steam, district heating, and mobility solutions powered by green hydrogen on that continent. Lhyfe will supply hydrogen to steam plants that include Jericho subsidiary Hydgrogen Technologies' Dynamic Combustion Chamber™ or DCC™ boiler.
The U.S. Patent and Trademark Office also recently approved a patent for the boiler, with two more still pending as it begins to take orders.
"JEV stock is down 23% from its high of (CA)$0.33/share in July, while the Company has only reported progressively strong announcements," Cortelluci wrote on Tuesday. "As such, we view the pullback as a buying opportunity ahead of boiler sales orders."
"This represented a significant milestone on H2U's path to addressing bottlenecks in the sustainable hydrogen supply chain," Atrium Research analyst Nicholas Cortellucci wrote.
The world's energy suppliers are scaling up electrolyzer manufacturing as hydrogen is pushed as a clean and safe alternative to fossil fuels.
It's 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. Contemporary electrolyzer designs use rare and costly platinum-group metals like iridium.
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: Cheaper, More Available
H2U's catalysts are cost-effective and more available than iridium, Jericho said.
"Utilizing these affordable alternatives expands the possibilities for electrolyzer stack design, enabling H2U to explore avenues unrestricted by ultra-thin catalyst layers and low usage of catalysts," the company noted. "H2U believes this flexibility should significantly reduce capital expenses, producing more affordable delivered hydrogen."
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."
JEV co-led H2U's Series A financing in 2021 and has an appointment on its Board of Directors.
It's difficult to discover non-iridium catalysts because new materials often degrade rapidly under the harsh acidic conditions needed for the process, Jericho said.
"With a baseline of over 4,000 hours of continuous operation thus far, H2U's iridium-free catalysts, tested at 10x higher current density, are demonstrating projected lifetimes of over 25,000 hours," the release said. "H2U catalysts are projected to last at least six years for targeted applications, such as in PEM electrolyzers paired with curtailed renewables."
'First Mover in Its Category'
Jericho recently announced a partnership with Exogen and the Sofinter Group to build, implement, and service a new complete hydrogen steam plant, the HSP3000, that can permanently eliminate the CO2 equivalent of about 5,000 cars.
The partnership between Exogen, which is offering the final integrated product that comes pre-assembled in container-sized units, and Lhyfe "paves the way for a new type of ecosystem and vast markets for green and renewable hydrogen," Lhyfe said in a release.
The product and partnership should also have a positive effect on Hydrogen Technologies' sales in the second half of the year, as the company recently announced its first sale of a DCC™ boiler system to a prominent anonymous university, Cortellucci wrote in a research note.
"This (sale) . . . positions JEV as a key industry leader and a first mover in its category," Cortelluci wrote.
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.
Near-Zero Greenhouse Gas Emissions
The hydrogen market has the "potential for near-zero greenhouse gas emissions," the U.S. Department of Energy has said.
"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 world will need more hydrogen technology and projects to meet a net-zero emissions scenario by 2050, according to the International Energy Agency.
"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.
It's also a "uniquely versatile energy carrier," according to a report by the Hydrogen Council. "It can be produced using different energy inputs and different production technologies. It can also be converted to different forms and distributed through different routes — from compressed gas hydrogen in pipelines through liquid hydrogen on ships, trains or trucks, to synthesized fuel routes."
Streetwise Ownership Overview*
Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTC; JLM:FSE)
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 1.25% or about 3.1 million shares; founder Allen William Wilson, who owns 0.79% or about 1.97 million shares; and board member Nicholas Baxter, who owns 0.46%, or about 1.14 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$64.52 million, and it trades in a 52-week range of CA$0.44 and CA$0.21. It has 248.14 million shares outstanding and 178.38 million floating.
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