An anonymous director reports

JEV PORTFOLIO COMPANY UPDATE: UK'S GREEN ENERGY AND WHISKEY INNOVATION HUB ESTABLISHED AT SUPERCRITICAL'S NEW FACILITY

Jericho Energy Ventures Inc.'s portfolio company, Supercritical Solutions Ltd., has achieved a significant milestone in the sustainable energy industry with the completion of its innovative green hydrogen demonstrator at its Teesside facility in northeast England.

U.K. Minister for Energy Efficiency and Green Finance, Lord Callanan, visited the advanced testing unit at Supercritical's facility, commenting: "Innovation is central to delivering the new technologies we need to cut our carbon emissions and reach net zero. Backed by 2.9 million pounds sterling in government funding, this new milestone will forge the way to using hydrogen in whisky production, helping to decarbonize our industrial heartlands."

The demonstrator is part of the WhiskHy project, a collaboration led by Supercritical with Beam Suntory, a global leader in premium spirits, and the Manufacturing Technology Centre, part of the High Value Manufacturing Catapult. Funded by the Net Zero Innovation Portfolio under the Green Distilleries Competition, the project innovates by combining traditional whisky production methods with zero-emission technology.

Supercritical's novel approach to water electrolysis, functioning at elevated pressures and temperatures, has set a new global benchmark in efficiency, and is expected to be pivotal in reducing green hydrogen costs, fast-tracking its accessibility.

Supercritical's innovative approach, featuring a membraneless, iridium-free and compressor-free solution, is expected to solve critical supply chain challenges and presents a scalable and efficient alternative to conventional methods.

The facility is a global novelty in high-pressure green hydrogen production at 220bara, and serves as a crucial testing ground for optimizing Supercritical's innovative electrolyzer technology. With continued support, Supercritical anticipates delivering green hydrogen below one pound sterling per kilogram before 2030, marking a transformative era in the energy landscape.

JEV holds a seat on Supercritical's board of directors and led Supercritical's January, 2022, $3.6-million (U.S.) Seed Series funding round, alongside Chris Sacca's Lowercarbon Capital and New Energy Technology.

About Supercritical

Supercritical is a leading global green-hydrogen innovator. Based in the United Kingdom, the clean-tech start-up company produces the highest pressure hydrogen in the world, delivering a cost-effective, carbon-free and supply chain safe solution. It does so by applying its exclusive and proprietary high-efficiency electrolyzer technology.

The business was founded by Matt Bird, Mike Russ and Luke Tan, veterans of the hydrogen industry. The company is a spinoff from Deep Science Ventures, a London-based impact oriented venture builder, and has Lower Carbon Capital -- Chris Sacca's fund -- among its investors.

The company has developed multiple partnerships to progress with industrial applications, with highlights to Beam Suntory, a leading global spirits company with ambitious goals to achieve net-zero distilling through the WhiskHy project.

About Jericho Energy Ventures Inc.

Jericho Energy Ventures (JEV) is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon joint venture assets and advancing the low-carbon energy transition, with active investments in hydrogen. Its wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the commercial and industrial heat and steam industry. The company also holds strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyzer platform) and Supercritical Solutions (developing the world's first, high pressure, ultraefficient electrolyzer). Jericho also owns and operates long-held producing oil and gas joint venture assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production into the current elevated commodity price environment.

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