In a continued push to decarbonize its campus heating system, a leading US university has partnered with Jericho Energy Ventures (TSX.V: JEV) (OTC: JROOF), to procure a zero-emission DCC™ hydrogen boiler. The prominent Western institution will deploy Jericho’s patented DCC™ boiler within its district heat system.
Who is Jericho Energy Ventures?
Jericho Energy Ventures (TSX.V: JEV) (OTC: JROOF) is an energy company embracing the green transition from both sides. That’s because Jericho has various joint-venture hydrocarbon properties generating cashflow which it is reinvesting in the richly valued hydrogen industry.
Jericho’s main focus is its zero-emission boiler technology developed by its subsidiary Hydrogen Technologies, for the industrial heat and steam industry. As industrial businesses seek ways to cut emissions, Jericho’s innovative DCC™ hydrogen-fueled steam boiler offers a compelling option.
Furthermore, Jericho is strategically targeting customers that use many boilers within their business due to the very great potential for repeat sales.
Jericho’s technologies solve critical issues in the hydrogen value chain and its portfolio also includes investments in two notable hydrogen technology businesses Supercritical Solutions and H2U Technologies.
Supercritical Solutions creates the world's first high-pressure ultra-efficient electrolyser to generate hydrogen and oxygen from water without emissions. And H2U employs its unique techniques, including AI, to identify and evaluate affordable electrocatalysts, which accelerate the water electrolysis process into hydrogen and oxygen, eliminating the need for costly platinum group metals.
These technologies are a stroke of luck for hard-to-abate sectors such as steel, cement, pulp and paper, food and beverages, and petrochemicals that struggle to reduce their carbon emissions. Therefore, Jericho’s unique portfolio could offer investors a ticket to ride the green wave.
A Paradigm Shift for Campus Heating
The esteemed University is embarking on a ground-breaking collaboration with Jericho Energy Ventures. This pioneering effort shows what the future may look like for emission free campus heating.
District heating distributes heat from a central location to meet residential and commercial heating needs and has long stood out as a potential game-changer in sustainable energy. By selecting Jericho Energy Ventures as a key partner, the university is signaling its commitment to pioneering a green future.
Brian Williamson, CEO of JEV, commented:
Eliminating greenhouse gas emissions, Jericho’s boilers serve as a clean and environmentally friendly steam solution for various industries and applications. And the utilization of DCC™ clean steam perfectly aligns with its new customer’s bold commitment to decarbonize its campus.
This exciting news follows swiftly from the announcement that Jericho is thrilled to be collaborating with one of the world's largest alcoholic beverage companies. It is also partnering with Exogen and Sofinter Group in Europe to manufacture and sell a new modular and deliverable hydrogen steam plant solution, the HSP3000.
Analyst-Approved Growth Potential
Jericho’s hard work is starting to pay off as the company gains recognition and forms new partnerships. As governments worldwide push for net zero targets, industrial companies are actively weighing up decarbonization strategies. Here’s where Jericho’s solutions present an obvious choice.
Indeed, Jericho’s unique hydrogen boiler offers industrial businesses the opportunity to drastically decrease their carbon footprint, leading equity research firm Atrium Research to predict a promising future for Jericho Energy Ventures.
Analysts at Atrium Research recently awarded Jericho Energy Ventures a Buy rating with a target share price of $0.40 – that’s 63% above its share price in the most recent report, and 25% above the current price at the time of writing.
Atrium Research’s report states “Hydrogen Technologies has Disruptive Potential” as it expects its ongoing engineering studies to “result in firm contracts over the next year”. The analysts also anticipate Jericho’s boiler unit sales will scale quickly over the next three years.
Incentives Driven Hydrogen Shift
Moreover, companies are switching to hydrogen-powered solutions due to subsidies and incentives.
For instance, the US government, exemplifying its push for hydrogen adoption, has launched a Department of Energy (DOE) project that aims to establish 6-10 clean hydrogen hubs, investing $1bn in each initiative.
Jericho Energy Ventures, with its patented technology, is a proud contributor to the HALO Hydrogen Hub's final submission to the US Department of Energy (DOE), collaborating with one of the biggest food companies in the United States.
Jericho’s boiler tech potential and vast market reach shine through in this collaboration, emphasizing its expected role in reducing carbon in commercial and industrial heat and steam sectors nationwide.
Analysts have reiterated their BUY rating on JEV stock, and with impressive global partnerships, a self-sustaining cash source, and government incentives that promote decarbonization, Jericho is timely positioned to capitalize on the positive views of hydrogen and an urgent need for the company’s innovative decarbonizing solutions.