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This Small-Cap Stock Won’t Be Flying Under the Radar for Long

By Patricia Miller

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Green hydrogen availability boosts its use in transport and logistics, leading to cost savings and reduced emissions. Jericho Energy Ventures holds a key.

Hydrogen green energy symbol - Ecological Concept.

Buy-rated small-cap Jericho Energy Ventures (TSX.V: JEV) (OTC: JROOF) is a key contributor to a progressive decarbonization joint venture. Green hydrogen company Lhyfe (EPA: LHYFE) is partnering with Exogen Hydrogen Solutions to significantly expand its green hydrogen production output while gaining access to a brand-new market segment. Significantly, this opportunity is being powered by a unique hydrogen offering from Jericho.

Exogen is Jericho Energy Ventures’ EU partner and the pioneering Hydrogen Steam Plant (the HSP3000) that Exogen will supply to Lhyfe features Jericho’s patented DCCTM zero-emission boiler technology.

The HSP3000 is a scalable, turnkey solution for businesses that will provide operating synergies by integrating mobility solutions powered by green hydrogen. These mobility solutions could include forklifts, vans, delivery trucks, and cars at hydrogen refilling stations.

The Hydrogen Steam Plant installation is produced and serviced by industry leader Sofinter Group, and comes pre-assembled in container-sized units, shipped by road transport.

MoU for Joint Hydrogen Projects with Expansive Reach

Lhyfe and Exogen have announced the execution of a Memorandum of Understanding (MoU), for joint hydrogen projects. This MoU outlines a combined offering of comprehensive decarbonization solutions. Specifically targeting industrial steam, district heating, and mobility applications all powered by green hydrogen. This is not just an advancement in technology; it's paving the way for industries to embrace a sustainable future.

Exogen will provide and service its pioneering Hydrogen Steam Plant for which Lhyfe intends to build and operate green hydrogen production facilities, opening large new markets for growth in industrial steam and district heating. Indeed, the partnership also includes a commercial agreement to identify potential customers across Europe.

Lhyfe is a global pioneer in the production of green hydrogen. Its partnership with Exogen could lead to significant capacity expansions for its own existing pipeline at Lhyfe, servicing a large new end-market in industrial steam. Meanwhile, district heating and process steam opens two entirely new market segments, which are expected to lead to additional growth opportunities in green hydrogen production.

Both Lhyfe and Exogen will promote their respective products and services to the benefit of clients seeking to unlock operating synergies from integrated decarbonization solutions.

Philippe Desorme, VP of Sales & Business Development at Lhyfe said:

“Green hydrogen has become highly relevant for decarbonizing industrial steam, district heating and logistics. By partnering with Exogen we expect a significant expansion of our green hydrogen production output over time, while also opening a completely new market segment for us. Therefore, we are very excited to work with Exogen and our clients to help unlock operating synergies and create new hydrogen demand. The key for efficient and comprehensive decarbonization solutions is the combination of industrial steam and mobility technologies, powered by dedicated green hydrogen installations.”

Jericho’s Specialized Contribution

Lhyfe and Exogen’s collaboration is particularly noteworthy because it is fueled by a distinctive offering from Jericho Energy Ventures. For the investment community, this development is more than just another business deal. While the joint venture between Lhyfe and Exogen is capturing well-deserved attention due to its scale and potential impact, the spotlight should also shine on JEV. As the provider of a unique service or product that powers this joint venture, Jericho Energy Ventures stands in a pivotal position.

Often, it's entities like Jericho that operate behind the scenes, offering specialized innovations, that become the backbone of larger ventures. Their role, although not necessarily in the limelight, is crucial for the success of such collaborations. For investors, this means that while Lhyfe and Exogen's JV is undoubtedly an attractive proposition, JEV also offers an avenue for potentially higher growth, given its specialized contribution to the progressive venture.

The Exogen HSP 3000

In July, Jericho announced a strategic three-way partnership with Exogen and Sofinter Group to manufacture, implement, and service an innovative new Hydrogen Steam Plant, the HSP3000, as a scalable, turnkey solution. 

This first-of-its-kind hydrogen steam plant features the patented DCC™ boiler technology developed by Hydrogen Technologies, a wholly-owned subsidiary of Jericho Energy Ventures. Exogen offers the HSP3000 as an integrated product and engineering solution including hydrogen production and storage units. 

Exogen’s HSP3000 is a breakthrough, zero-emissions steam plant for industrial and district heating applications. The plant comes pre-assembled in container-sized units and shipped by road transport.

The plant has no smokestack and eliminates all NOx and CO2 emissions from industrial steam and district heating. The only exhaust is clean water, which is ready for circular use with electrolyzer systems supplied by Lhyfe, further enhancing the positive environmental impact.

Saverio Costanzo, CRO at Exogen commented:

“Decarbonizing heat is the single biggest challenge in energy markets. The Exogen Hydrogen Steam Plant is a great solution for many businesses because it will permanently eliminate CO2 and NOx emissions from their incumbent production process. As a result, our clients can deliver meaningfully decarbonized products and services to their customers, unlocking new growth opportunities. In our mission to decarbonize energy applications, Lhyfe is an ideal partner; together we can serve customers across Europe with comprehensive solutions. I am very excited about the early feedback from multinationals and district heating providers for our combined offering. The future of energy applications is green, and we are right in the middle of it.”

Multiple Target Markets

Steam production is a key part of many factory operations, and there's always a strong need for it. That’s why multinational companies and groups of industries are increasingly interested in using green hydrogen to power both heating and transportation solutions. They see benefits in bringing these two uses together to help drastically reduce their emissions.

This means the target market for Jericho’s technology covers a spectrum of industrial sectors. Industries with a large process steam demand include Pulp & Paper, Food & Beverages, Pharmaceuticals, Industrial Chemicals, and the Oil & Gas industry.

Furthermore, district heating is used across multiple domains too. Large buildings like airports, hospitals, shopping centers, and university campuses use thermal applications to manage their temperature.

The Exogen HSP 3000 makes it easy to use hydrogen in large amounts. When green hydrogen is available in big quantities at a location, it can also be used for things like transportation. This helps reduce carbon emissions and can save costs due to large-scale use.

Once green hydrogen becomes available on-site and in industrial quantities, other applications, such as mobility, transport and logistics, become natural extensions to further decarbonize the value chain. As a result, the combined applications can unlock material operating synergies and cost advantages from scale effects.

In addition to its EU partnership with Exogen and Sofinter Group, Jericho Energy Ventures (TSX.V: JEV) (OTC: JROOF) has enjoyed a steady stream of new partnership announcements and collaborations in recent months. A leading U.S. University recently selected its DCC™ hydrogen boiler technology for deployment to decarbonize its district heating system, placing JEV at the forefront of decarbonizing the $198B global district heating market.

Additionally, it announced a collaboration with a global alcoholic beverage giant for a four-country DCC™ study.

More recently its HALO Hydrogen Hub entry was ranked among the top 10 likely to secure funding from the Department of Energy’s clean hydrogen hubs program.

Each of these announcements presents the potential for a mass-market opening and contributes to why Atrium Research rates JEV stock a Buy.

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