Jericho Energy Ventures (TSX.V: JEV) (OTC: JROOF) has significantly bolstered its flagship hydrogen technology with the award of a new patent from the US Patent and Trademark Office (US PTO).
The move increases the protection of the company’s DCC™ hydrogen-fueled steam boiler just as the company reports that it is beginning to receive initial commercial orders for the technology.
Jericho Energy Ventures CEO, Brian Williamson, stated:
“We are excited about the new patent allowance from the US PTO and look forward to the opportunity to continue to expand our portfolio of IP related to our emission-free industrial hydrogen boiler system. The HT team continues to work to extend IP with each generation and improvement on the DCC™.”
Why Is This Patent Important?
Simply put, this patent means that other companies and individuals will be forbidden from reproducing, using or selling technology contained within Jericho’s DCC™ hydrogen-fueled steam boiler. Indeed, the company can openly discuss its technology and how it works, without having to be concerned that others will duplicate its methods, ideas and products.
However, Jericho could still use its rights to license the patent to other companies or sell it on if an offer is strong enough.
In short, a patent offers a great deal of control to Jericho. It secures this control and these rights for a long time too, locking in protection for two decades from the patent’s filing date.
The developer of the boiler technology, Jericho’s wholly owned subsidiary Hydrogen Technologies, has an additional two patents pending which would further protect the company’s intellectual property.
What is Jericho Energy Ventures?
Jericho Energy Ventures (TSX.V: JEV) (OTC: JROOF) is an Oklahoma-based company that is seeking to capitalize on the green transition opportunity. The business has developed several exciting clean energy solutions, while also generating significant cashflow through its joint-venture hydrocarbon properties.
This strategy allows the company to reinvest capital gained from traditional energy investments into the richly valued hydrogen industry.
Of course, the company’s DCC™ hydrogen-fueled steam boiler is one of the key examples of how this extensive reinvestment is stimulating the creation and development of exciting technologies.
This zero-emission boiler technology eliminates greenhouse gas emissions, providing a clean and eco-friendly source of steam for various industries and applications. It is Jericho’s main focus and the company is targeting the industrial heat and steam industry.
As industrial and hard-to-abate businesses seek ways to cut emissions, Jericho’s innovative DCC™ hydrogen-fueled steam boiler offers a compelling option.
Considering the need for businesses to decarbonize their operations and the fact that the global district heating market is worth an estimated $198bn, Jericho’s unique solution could be a game changer.
Jericho’s Busy Summer
The new patent protection is just the latest update in what has been an active few months for Jericho Energy Ventures.
It has seen the company announce a three-way EU partnership with Sofinter Group and Exogen, with the trio collaborating on a one-of-a-kind green technology that will allow commercial and industrial customers to eliminate a major portion of their harmful greenhouse gas emissions.
Jericho also shared the exciting news that it is working with one of the world's largest alcoholic beverage companies. The drinks giant will conduct a decarbonization study on the implementation of Jericho’s DCC™ boilers across its production facilities in four different countries.
Back in August, a leading US university partnered with the company to procure a zero-emission DCC™ hydrogen boiler. The prominent Western institution sought to deploy Jericho’s patented DCC™ boiler within its district heat system.
Meanwhile, Jericho’s association with the HALO hydrogen hubs project has been tipped to enjoy some positive news soon. Rystad Energy ranked the project as one of the top 10 most likely to secure funding from the Department of Energy’s (DOE) massive regional clean hydrogen hubs program.
This programme seeks to create 6-10 clean hydrogen hubs across the US, with $1bn of investment in each project as the US government seeks to encourage hydrogen adoption by stimulating production, storage and technology efforts.
Furthermore, there are a slew of subsidies and incentives that are driving companies around the world to switch to hydrogen-powered solutions. As such, Jericho’s busy summer could just be the start.
