Jericho Energy Ventures' Hydrogen Project Secures $1M Funding for California Innovation
Key Ideas
- Jericho Energy Ventures' Hydrogen Technologies receives $1 million in funding from the U.S. Department of Energy for a California-based Hydrogen Permitting Issues and Improvements project.
- Collaboration with Sandia National Laboratories, GHD, and UC Riverside to address challenges in deploying hydrogen-powered equipment, focusing on safety analysis and community engagement.
- Active deployment of zero-emission hydrogen boiler technology at a university in Western US, in partnership with Superior Boiler.
- Company's shares for debt transaction settles $376,071 in interest through issuing 2,892,846 common shares at $0.13, maintaining financial stability for further projects.
Jericho Energy Ventures' subsidiary, Hydrogen Technologies (HT), has secured $1 million in funding from the U.S. Department of Energy for the Hydrogen Permitting Issues and Improvements (HPII) project in California. The project, developed in collaboration with Sandia National Laboratories, GHD, and UC Riverside, aims to tackle challenges related to the deployment of hydrogen-powered equipment by focusing on safety analysis and community engagement. Furthermore, HT is actively working with Superior Boiler to implement their zero-emission hydrogen boiler technology at a university in the Western United States, showcasing innovative solutions for sustainable energy. In a strategic move to maintain financial stability, the company settled $376,071 in interest through a shares for debt transaction, issuing 2,892,846 common shares at $0.13. This funding and collaboration highlight Jericho Energy Ventures' commitment to advancing hydrogen technology and environmental sustainability.