Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

TICKERS: JEV; JROOF; JLM

Co. Sells First DCC Hydrogen-Fueled Boiler
Research Report

View Important Disclosures for this Article
Share on Stocktwits

Source:

This transaction positions the clean hydrogen firm as "a key industry leader and first mover in its category," noted an Atrium Research report.

Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTC; JLM:FSE) had its target price increased by Atrium Research after two recent developments, reported analyst Nicholas Cortellucci in an Aug. 3 research note.

"We are increasing our target price based on strong execution on the Hydrogen Technologies side as well as increasing oil prices," Cortellucci explained. Hydrogen Technologies is Jericho's subsidiary that developed the patented DCC hydrogen-fueled boiler.

61% Return Projected

Atrium's new target price on Jericho is CA$0.50 per share, up from CA$0.40. The cleantech firm's current share price is about CA$0.31 per share. The gap between these current and target prices implies a compelling return for investors of 61%.

Jericho remains a Buy.

First Order Received

Cortellucci discussed Jericho's latest achievements. Sooner than Atrium expected it would, the Canadian energy company sold its first zero-emission DCC steam boiler to an unnamed university in the West.

This sets a precedent for other higher education facilities, especially since 1,173 of them worldwide intend to reduce emissions by 2030, according to Jericho's management. This market represents a significant opportunity for the Canadian company.

Also, this initial sale "positions Jericho as a key industry leader and first mover in its category," added Cortellucci. "We expect [the company] to build on this momentum and continue to sign boiler contracts over the coming quarters."

Additional sales will likely come from the 30-plus studies involving the DCC steam boiler that are in progress, noted the analyst. Further contracts could move up Jericho's share price.

Multinational Exposure

Jericho's second recent development is a new collaboration with a leading global alcoholic beverage company. The two parties agreed to conduct a study on the use of DCC hydrogen boilers to decarbonize production facilities. For the analysis, Jericho's boilers will be installed in the partner's production facilities in four countries.

"Decarbonization remains a pressing issue in the beverage industry and plays into Jericho and Hydrogen Technologies' value proposition," wrote Cortellucci.


Want to be the first to know about interesting Alternative - Cleantech investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. Subscribe

Important Disclosures:

  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. In addition, Jericho Energy Ventures Inc. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000. 
  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. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
  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.

For additional disclosures, please click here.

Disclosures for Atrium Research, Jericho Energy Ventures Inc., August 3, 2023

Analyst Certification Each authoring analyst of Atrium Research on this report certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent, and objective views about any and all of the designated securities discussed (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in the research, (iii) to the best of the authoring analyst’s knowledge, she/he is not in receipt of material non-public information about the issuer, and (iv) the analyst does not own common shares, options, or warrants in the company under coverage.

About Atrium Research Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis.

General Information Atrium Research Corporation (ARC) has created and distributed this report. This report is based on information we considered reliable; we have not been provided with any material non-public information by the company (or companies) discussed in this report. We do not represent that this report is accurate or complete and it should not be relied upon as such; further any information in this report is subject to change without any formal or type of notice provided. Investors should consider this report as only one factor in their investment decisions; this report is not intended as a replacement for investor’s independent judgment. ARC is not an IIROC registered dealer and does not offer investment-banking services to its clients. ARC (and its employees) do not own, trade or have a beneficial interest in the securities of the companies we provide research services for and does not serve as an officer or Director of the companies discussed in this report.

ARC does not make a market in any securities. This report is not disseminated in connection with any distribution of securities and is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. ARC does not make any warranties, expressed or implied, as to the results to be obtained from using this information and makes no express of implied warranties for particular use. Anyone using this report assumes full responsibility for whatever results they obtain. This does not constitute a personal recommendation or take into account any financial or investment objectives, financial situations or needs of individuals. This report has not been prepared for any particular individual or institution. Recipients should consider whether any information in this report is suitable for their particular circumstances and should seek professional advice. Past performance is not a guide for future results, future returns are not guaranteed, and loss of original capital may occur. Neither ARC nor any person employed by ARC accepts any liability whatsoever for any direct or indirect loss resulting from any use of its research or the information it contains. This report contains "forward looking" statements. Forward-looking statements regarding the Company and/or stock’s performance inherently involve risks and uncertainties that could cause actual results to differ from such forward-looking statements. Such statements involve a number of risks and uncertainties such as competition, technology shifts, market demand and the company’s (and management’s) ability to correctly forecast financial estimates; please see the company’s MD&A “Risk Factors” Section for a more complete discussion of company specific risks for the company discussed in this report. ARC is receiving a cash compensation from Jericho Energy Ventures Inc. for 12-months of research coverage. ARC retains full editorial control over its research content. ARC does not have investment banking relationships and does not expect to receive any investment banking driven income. ARC reports are primarily disseminated electronically and, in some cases, printed form. Electronic reports are simultaneously available to all recipients in any form. Reprints of ARC reports are prohibited without permission. The information contained in this report is intended to be viewed only in jurisdictions where it may be legally viewed and is not intended for use by any person or entity in any jurisdiction where such use would be contrary to local regulations or which would require any registration requirement within such jurisdiction.





Want to read more about Alternative - Cleantech investment ideas?
Get Our Streetwise Reports' Research Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe