Jericho Energy Ventures Inc. has announced that one of its portfolio companies, in partnership with Capella Partners, has been awarded a grant from the Climate Innovation Proof of Concept Grant program associated with the California NanoSystems Institute (CNSI) laboratory at the University of California, Santa Barbara. This grant marks the second California-based grant received by Jericho's H2 portfolio companies in 2024, highlighting the significance of green hydrogen in the energy transition. The company's CEO, Brian Williamson, expressed gratitude for the recognition and emphasized the crucial role of green hydrogen in driving a sustainable future. Additionally, Jericho has amended its private placement, lowering the price per unit to $0.10 and aiming to raise up to $2 million. The financing, expected to close in January 2025, will be utilized for general working capital purposes. Insiders of the company are participating in the financing, with steps taken to ensure compliance with regulatory requirements. Jericho Energy Ventures is actively engaged in advancing low-carbon energy solutions, including their patented zero-emission boiler technology for the Commercial & Industrial heat and steam industry. The company holds strategic investments in breakthrough electrolyzer platforms and is involved in developing high-pressure, ultra-efficient electrolyzers. Moreover, Jericho operates oil and gas JV assets in Oklahoma while focusing on increasing production. The news release also includes forward-looking statements regarding the company's collaborations, financing activities, and future plans. Jericho Energy Ventures is committed to driving sustainable energy initiatives and aims to play a significant role in the global energy transition towards a more environmentally friendly future.