ACCESS Newswire

Jericho Energy Ventures Inc.

Share
Jericho Energy Ventures Co-Leads Investment into Hydrogen Catalyst Discovery Platform
  • H2U has developed a high throughput screening process for discovering electrocatalysts
  • Millions of elemental compositions screened and tested daily for their catalytic value
  • Low-cost catalysts enable the Hydrogen Economy
  • H2U to develop its own proprietary electrolyser technology

NEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / July 22, 2021 / Jericho Energy Ventures (TSXV:JEV)(Frankfurt:JLM0)(OTC PINK:JROOF) ("Jericho" or "JEV" or the "Company") is pleased to announce it has led a Series A financing for H2U Technologies, Inc. ("H2U"), a Company focused on developing its proprietary ultrahigh throughput, AI-driven, electrocatalyst discovery process for electrolyser and fuel cell applications.

Jericho's USD$1.5 million Co-Lead investment is joined by Dolby Family Ventures, Hess Corporation (NYSE: HES) and Motus Ventures - with a total Series A raise of approximately USD$7 million. Each of the Co-Leads, including Jericho, will have board representation. The Board of H2U will also be joined by independent director, Tom Werner, former CEO (2003-2021) and current Chairman of SunPower (NASDAQ: SPWR).

H2U intends to use this funding to support the start-up and development of its proprietary electrocatalyst discovery process and machinery. H2U will also develop its own PEM electrolyser technology utilizing its proprietary catalysts, breakthrough sub-component innovations and manufacturing processes.

H2U's low-cost electrolyser is being developed in partnership with Southern California Gas Co. ("SoCalGas") - the cost target of which is half that of current PEM electrolysers. SoCalGas, who recently announced its commitment to reach Net Zero carbon emissions in its operations and delivery by 2045, will conduct demonstration testing of the new low-cost electrolyser, as well as validation testing on the performance of new non-precious metal catalysts, materials used in small quantities to initiate and accelerate the chemical process of splitting water into hydrogen and oxygen.

Disruptive Solution and Background

H2U is a commercialization of technology, exclusively licensed to H2U by Caltech, developed under a $122 million Joint Center for Artificial Photosynthesis ("JCAP") program established by the Department of Energy and a group of universities including the California Institute of Technology, University of California, Berkley, Stanford University, UC Irvine, and UC San Diego. The mission of JCAP was to find cost-effective methods to produce fuels using only sunlight, water, and CO2. This program produced over 30 patents to which H2U has the exclusive worldwide IP-rights.

H2U's disruptive solution to replace precious metal catalysts with cheap, stable, and effective electrocatalysts will be a required step in the adoption of green hydrogen, globally. The resulting electrocatalyst discovery pipeline is an unprecedented, proprietary, end-to-end, ultra-high throughput data-driven process focused on the discovery of new catalysts for hydrogen electrolysis, fuel cells and batteries. The process is capable of preparing, characterizing, and quantifying the catalytic activity of over 1 million compositions per day, which is orders of magnitude beyond the current state-of-the-art. Critically, the Company has already developed, lab tested and has patents pending on two potential catalysts that will be the focal point of commercialization efforts in the near-term.

H2U will initially be led by some of the leading scientists in the field of photo-and-electrocatalysis, many of whom led and directed the JCAP program at the California Institute of Technology including H2U's Chief Scientific Advisor, Dr. Nathan Lewis (Scientific Director, Principal Investigator for JCAP and Professor of Chemistry at Caltech).

Ryan Breen, Head of Corporate Strategy at JEV, states, "Critical to any pathway towards Net Zero targets will be the low-cost, efficient and stable electrocatalysts developed by H2U for the rapidly growing Hydrogen Economy. H2U's catalyst discovery process is a distinct advantage over traditional catalyst companies looking to serve the hydrogen market. Driving down the cost of green hydrogen is of vital importance to its adoption and JEV seeks to play a market-leading role in that pursuit. Moreover, we are thrilled to be joined by like-minded investors in recognizing the value of H2U's proprietary technology and world-class Caltech team."

Hydrogen Generation and Utilization: Electrolysers, Fuel Cells and Catalysts

The market to produce and utilize green hydrogen as a fuel, feedstock and means of energy storage is slated to reach a total addressable market size of $2.5 trillion per annum by 2050. Today, electrolysers and fuel cells rely on expensive and supply-constrained precious metals for electrocatalysts, particularly, platinum and iridium whose prices have risen 25% and 240%, respectively over the last twelve months.

According to the Renewable Energy Agency (IRENA) and Bloomberg New Energy Finance (BNEF), required electrolyser capacity needs to reach 270GW and 1700GW by 2030 and 2050 respectively to meet global decarbonization targets. The current global pipeline is 3GW. The growth prospects of green hydrogen and its electrolysis production process will produce an inevitable supply pull on currently utilized precious metal catalysts. In fact, the Henry Royce Institute (UK) identified the reduction of precious metals in PEM electrolyser and fuel cells as one of its top five priorities for materials research enabling the hydrogen economy.

Jericho's Hydrogen Platform

Jericho Energy Ventures investment in H2U follows on its hydrogen-based boiler acquisition of HTI earlier in 2021. JEV's hydrogen investment platform offers shareholders full spectrum exposure to critical parts enabling the hydrogen economy.

About Jericho Energy Ventures

Jericho Energy Ventures (JEV) is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems. JEV's wholly owned subsidiary, Hydrogen Technologies, delivers patented, zero-emission boiler technology to the $30 Billion Commercial & Industrial heat and steam industry in addition to its investment in H2U's electrocatalyst and low-cost electrolyser platform. JEV also owns and operates producing oil and gas assets in the US Mid-Continent, predominantly in Oklahoma.

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

CONTACT:

Adam Rabiner
Director of IR
Jericho Energy Ventures
604.343.4534
adam@jerichoenergyventures.com

This news release contains certain 'forward-looking information' within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and 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. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or may contain statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'will continue', 'will occur' or 'will be achieved'. Although Jericho believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Forward-looking information and 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 information and statements which include, but are not limited to: the effects of and risks associated with the ongoing COVID-19 pandemic, the impact of general economic conditions, industry conditions and current and future commodity prices including sustained low oil prices, significant and ongoing stock market volatility, currency and interest rates, governmental regulation of the oil and gas industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities inherent in oil and gas exploration, development and production operations; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information and 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 information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Neither 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.

SOURCE: Jericho Energy Ventures Inc.



View source version on accesswire.com:
https://www.accesswire.com/656608/Jericho-Energy-Ventures-Co-Leads-Investment-into-Hydrogen-Catalyst-Discovery-Platform

To view this piece of content from www.accesswire.com, please give your consent at the top of this page.

About ACCESS Newswire

DK

Subscribe to releases from ACCESS Newswire

Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from ACCESS Newswire

Sweden, the Czech Republic, and Greece Crowned Champions of Harm Reduction in Brussels3.7.2025 06:00:00 CEST | Press release

BRUSSELS, BE / ACCESS Newswire / July 3, 2025 / Brussels transformed into a Champions League pitch for tobacco harm reduction as the World Vapers' Alliance (WVA) honoured Sweden, the Czech Republic, and Greece with the "Champions of Change" trophy for their outstanding progress in cutting smoking rates. The ceremony, staged in front of the European Parliament, shone a spotlight on the countries leading Europe's fight against smoking-while EU officials looked on from the sidelines. WVA Director Michael Landl, presenting the awards, remarked, "The EU is stuck in a cycle of prohibition and continues to overlook the evidence that's saving lives. Instead of embracing proven solutions, Brussels is making it harder for smokers to quit." Sweden led the celebrations, having become the world's first officially smoke-free nation, with just 4.5% of Swedish-born adults smoking-five times lower than the EU average and 16 years ahead of the EU's own goal. The Czech Republic and Greece were also recog

Fineqia Issues Bitcoin Yield ETP via DeFi; Yield Compounds Investors' BTC Holdings2.7.2025 17:00:00 CEST | Press release

LONDON, UK / ACCESS Newswire / July 2, 2025 / Fineqia International Inc. (CSE:FNQ)(OTC:FNQQF) (Frankfurt:FNQA), a digital asset and investment business, announces the Fineqia Bitcoin Yield Exchange Traded Product (ETP) (Ticker: YBTC, ISIN: LI1444931821), a listed product that enables investors to garner additional Bitcoin while holding it. YBTC targets an annual yield of 6% via decentralised finance (DeFi) activities on the blockchain. YBTC automatically converts this yield into Bitcoin (BTC), increasing an investor's BTC holdings without requiring any additional capital. Listed on the Vienna Stock Exchange (Wiener Börse), it is the first regulated, exchange-traded instrument in the world to provide BTC yield from DeFi protocols. The product is available for institutional and retail investors. "With YBTC, we've transformed Bitcoin from a store of value into a yield-generating digital asset," said Bundeep Singh Rangar, chief executive officer of Fineqia. "It allows investors to earn mor

Global Sports Brand U.S. Polo Assn. Launches in Brazil With Grupo Pasquini2.7.2025 13:15:00 CEST | Press release

WEST PALM BEACH, FL AND SAO PAULO, BRAZIL / ACCESS Newswire / July 2, 2025 / U.S. Polo Assn., the official brand of the United States Polo Association (USPA), is proud to announce its launch in the Brazilian market in partnership with Grupo Pasquini, a leading player in the country's fashion industry. This expansion reinforces the global, sport-inspired brand's presence in Latin America and further supports U.S. Polo Assn.'s strategic growth plan to reach new consumers around the world.U.S. Polo Assn. As U.S. Polo Assn. continues to expand its multi-billion-dollar global presence, Brazil marks an exciting new chapter in the brand's international journey. With its vibrant retail landscape and deep-rooted passion for lifestyle fashion, Brazil offers a natural fit for U.S. Polo Assn.'s authentic connection to the sport of polo. The debut collection in Brazil will showcase timeless, versatile styles across both menswear and womenswear, designed to honor the heritage of the sport while embr

Picktan Capital to Post Record Q2 Amid Market Buzz Over Possible IPO1.7.2025 20:55:00 CEST | Press release

LONDON, UK / ACCESS Newswire / July 1, 2025 / Picktan Capital, a London-headquartered wealth management firm managing over $7 billion in client assets globally, is attracting attention amid growing speculation about a potential public listing. The firm is on track to report its strongest quarterly performance to date, marking a significant milestone in its global growth strategy. With a strong emphasis on emerging technologies and disciplined capital deployment, Picktan Capital's momentum in 2024 has captured the interest of both investors and analysts. Picktan's second-quarter performance reflects a maturing investment approach grounded in both innovation and long-term value. The firm's activity across pivotal sectors, notably aerospace innovation, AI development, and satellite communications, has translated into meaningful gains and reinforced confidence in its forward strategy. Rather than chasing trends, Picktan has concentrated on sectors undergoing structural transformation. Its

DASA, Latin America's Largest Diagnostic Provider, Selects AGFA HealthCare's Enterprise Imaging Platform in Flagship Agreement1.7.2025 10:00:00 CEST | Press release

AGFA HealthCare is proud to announce a landmark achievement: the adoption of its Enterprise Imaging Platform by the largest integrated health network in Latin America - and the fifth largest globally. MORTSEL, BE / ACCESS Newswire / July 1, 2025 / DASA (Diagnósticos da América S.A.) operates an extensive hospital network across Brazil and Argentina, bringing together more than 40 healthcare provider brands. In 2024, DASA and Amil announced the creation of a joint venture that consolidates 25 hospitals and over 4,400 beds, making DASA the second largest hospital group in Brazil. With 321 branches across Brazil, DASA delivers more than 15.2 million clinical studies per year, serves 55,000 patients daily, and processes around 10 million tests monthly - solidifying its leading role in healthcare delivery across the region.AGFA HealthCare After a thorough evaluation process, DASA selected AGFA HealthCare's Enterprise Imaging Platform. Key moments in the decision journey included live demons

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye