TULSA, OK and VANCOUVER, BC / ACCESSWIRE / December 12, 2022 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce that the zero-emission Dynamic Combustion Chamber™ (DCC™) hydrogen fueled boiler, developed by its wholly owned subsidiary, Hydrogen Technologies (HT), has been awarded the Solar Impulse Foundation's "Solar Impulse Efficient Solution" Label which identifies solutions that meet specific high standards in profitability and sustainability and presents them to global decision-makers to fast-track their implementation.
The Solar Impulse Efficient Solution Label is designed to shed light on existing solutions that are both clean and profitable and is awarded to products, services, and/or processes that combine credible environmental and economic performance, while outperforming the mainstream options in its market. The decision to grant the Label is based on a rigorous assessment performed by external, independent experts. The development of stringent selection criteria has resulted in the Solar Impulse Label being internationally recognized and endorsed by several institutions, states, and cities around the world.
Brian Williamson, CEO of JEV, said, "We are, of course, honored to receive this prestigious recognition from the Solar Impulse Foundation. I applaud the fortitude and determination shown by the Hydrogen Technologies Team which made this achievement possible, and we look forward to our DCC™ playing a major role in the reduction of greenhouse gas emissions from the commercial and industrial heat and steam market globally."
Bertrand Piccard, Chairman of the Solar Impulse Foundation, comments, "Each time I speak of protecting the Environment to heads of state or government officials, they tell me that it is too expensive. This Label is a strong message to them: solutions exist and represent the biggest market opportunity of our century. An opportunity which cannot be missed."
To learn more about the DCC™'s Solar Impulse Efficient Solution Label, please visit: https://solarimpulse.com/solutions-explorer/dynamic-combustion-chamber
The DCC™ is a hydrogen fueled boiler with zero CO2 and zero Greenhouse Gas emissions which been validated as operating with an overall GHG-free fuel combustion efficiency of nearly 100% in recent independent testing by Process Engineering Associates, LLC, a specialized process engineering firm.1 The DCC™ was designed to replace existing boilers that burn coal, natural gas, diesel, or fuel oil, which account for a significant percentage of global greenhouse gasses emitted each year.
About Hydrogen Technologies
Hydrogen Technologies (HT) offers its award-winning CLEAN, ZERO-EMISSION ENERGY SOLUTION for the Commercial and Industrial Boiler Market. There are a wide range of applications for our cleanH2steam DCC™ Boiler, which work much like traditional commercial heat, hot water and industrial steam boilers: be it district heating, food processing, chemical refining, pharmaceuticals, pulp and paper mills or industrial manufacturing processes, HT has a reliable, efficient and clean solution for your GHG and ESG goals.
Website: https://hydrogentechnologiesinc.com/
Twitter: https://twitter.com/h2_technologies
LinkedIn: https://www.linkedin.com/company/hydrogen-technologies-inc/
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyzer platform) and Supercritical Solutions (developing the world's first, high pressure, ultra-efficient electrolyzer). Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production into the current elevated commodity price environment.
Website: https://jerichoenergyventures.com/
Twitter: https://twitter.com/JerichoEV
LinkedIn: https://www.linkedin.com/company/jericho-energy-ventures
YouTube: https://www.youtube.com/c/JerichoEnergyVentures
For Further Information:
Allen Wilson, Director, or
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
[email protected]
www.jerichoenergyventures.com
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho's control. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "will" or "may not" occur. Specifically, this news release contains forward-looking statements relating to, among others, future demand for DCC™ boilers.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho's public filings available at www.sedar.com.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company's (or its subsidiaries') technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1Process Engineering Associates, LLC, "DCC™ Efficiency Test Report" by Chris Muntean, Aug. 2022
SOURCE: Jericho Energy Ventures Inc.