Jericho Energy Ventures' Innovative Hydrogen Project Receives U.S. Department of Energy Funding
Key Ideas
- Jericho Energy Ventures' California-based hydrogen project secures $1 million funding from the U.S. Department of Energy's Hydrogen and Fuel Cell Technologies Office.
- The project, Hydrogen Permitting Issues and Improvements, aims to address challenges in deploying hydrogen-powered equipment in unfamiliar fuel settings like manufacturing facilities and district heating systems.
- Jericho Energy Ventures' Hydrogen Technologies will focus on engaging users, permitting authorities, and communities to overcome technological and administrative barriers, enhancing safety, risk analysis, and integration into existing infrastructure.
- The company's CEO, Brian Williamson, expresses pride in the collaboration and emphasizes the significance of accelerating access to lower emissions solutions, highlighting their growing reputation as an innovative hydrogen partner.
Jericho Energy Ventures Inc. has announced that its subsidiary, Hydrogen Technologies, in partnership with Sandia National Laboratories, GHD, and the University of California at Riverside, has secured $1 million in funding from the U.S. Department of Energy's Hydrogen and Fuel Cell Technologies Office for their California-based project, Hydrogen Permitting Issues and Improvements (HPII). The project aims to tackle deployment challenges of hydrogen-powered equipment in settings where hydrogen is not commonly used, such as manufacturing facilities and district heating systems. By engaging with users, permitting authorities, and communities, the team plans to identify and address technological and administrative barriers, enhance safety and risk analysis, and improve integration into existing infrastructure.
Jericho Energy Ventures' CEO, Brian Williamson, expressed pride in the partnership, highlighting the importance of the DOE-funded project and the acceleration it provides for lower emissions solutions. The company's Hydrogen Technologies is recognized for its innovative approach in providing zero-emission hydrogen DCC boilers, with collaborations ongoing for feasibility studies on utilizing this technology. The hydrogen-fueled boilers offer a sustainable alternative to conventional fossil fuel-based boilers, contributing to decarbonization efforts across various industries.
In alignment with their commitment to environmental protection, Jericho Energy Ventures has plans to spin out its hydrogen platform as a separate, pure-play H2 solutions company to maximize shareholder value. Additionally, the company has arranged a shares for debt transaction to settle accrued interest on convertible debentures. This settlement reflects the company's strategic financial management amidst its focus on advancing hydrogen technologies and contributing to a cleaner energy future.
Topics
Investing
Energy Transition
Funding
Clean Technology
Carbon Reduction
Partnership
Technology Innovation
Community Engagement
Shareholder Value
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