MODESTO, CA and VANCOUVER, BC / ACCESSWIRE / September 22, 2022 / Hydrogen Technologies, LLC ("Hydrogen Technologies" or "HT"), a wholly owned subsidiary of Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) ("Jericho" or "JEV" or the "Company") is pleased to announce that its Dynamic Combustion Chamber (DCC™) hydrogen boiler has 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™ is the world's only hydrogen boiler with zero CO2 and zero Greenhouse Gas emissions.
Chris Muntean, Senior Process Engineer with Process Engineering Associates, writes, "All off-gas samples taken during the test did not detect hydrogen in the sample. This data suggests that the burners are combusting the vast majority (or all) of the H2 gas being supplied to the boiler. Based on these performance results, little to no fuel is left unburned representing an efficient combustion in the unit."
Janet Reiser, President of Hydrogen Technologies, commented, "This latest validation testing of the DCC™ further strengthens our belief that our breakthrough boiler technology will play a major role in transforming the global commercial and industrial heat and steam markets to zero-emissions in the months and years ahead."
Numerous multinational companies and organizations from a diverse range of industries are working with HT to explore the deployment of DCC™ clean steam generation across their global operations to fast track their emissions reduction goals.
The DCC™ was developed to be THE boiler for a CO2-free future, designed to replace existing boilers that burn coal, natural gas, diesel, or fuel oil, which are estimated to account for over 20% of all global greenhouse gasses emitted each year.²
The DCC™ maximizes thermal efficiency, minimizes operating headaches, and emits absolutely no GHGs or other pollutants, producing high-quality, clean process steam at prices that can compete with best-in-class natural gas boilers.
HT will be hosting existing clients and other interested parties at its upcoming DCC™ Demo Week, which will take place September 28-30 in Modesto, California.
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 power generation plants, district heating, food processing, chemical refining, pulp and paper mills or large venue halls, HT has a reliable, efficient, and clean solution for your needs.
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 approximately $30 Billion 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 highly elevated commodity price environment.
Director of IR
Jericho Energy Ventures
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, the maintenance of the Company's foreign private issuer status.
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, 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.
* Grand View Market Research, 2020
¹ Process Engineering Associates, LLC, DCC™ Efficiency Test Report, August 29, 2022
² IEA.org, 2019
SOURCE: Jericho Energy Ventures Inc.