05:52:06 EDT Fri 24 May 2024
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or Name

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Jericho Energy Ventures Inc
Symbol JEV
Shares Issued 248,139,737
Close 2023-09-11 C$ 0.245
Market Cap C$ 60,794,236
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Jericho Energy receives patent allowance for DCC boiler

2023-09-12 09:34 ET - News Release

Mr. Brian Willamson reports


The U.S. Patent and Trademark Office (USPTO) has allowed a new patent for the state-of-the-art, zero-emission DCC hydrogen-fuelled steam boiler, developed by its wholly owned subsidiary, Hydrogen Technologies (HT).

In addition to the newly allowed patent, HT has two patents pending to further protect and enhance the DCC's novel IP as the Company begins to receive initial commercial orders.

Brian Willamson, CEO of JEV, stated, "We are excited about the new patent allowance from the US PTO and look forward to the opportunity to continue to expand our portfolio of IP related to our emission-free industrial hydrogen boiler system. The HT team continues to work to extend IP with each generation and improvement on the DCC."

The new patent comes on the heels of several notable milestones for the DCC. On Aug, 3, 2023, JEV announced a leading U.S. University's decision to procure and deploy the DCC boiler within its district heating system, placing JEV and HT at the forefront of market ready solutions to decarbonize the estimated $198B global district heating market. Superscript 2

Additionally, JEV's recent three-way EU partnership with Sofinter Group and Exogen was announced, as well as a collaboration with a global alcoholic beverage giant for a four-country DCC study which could lead to multiple boiler deployments at their production facilities. Moreover, our HALO Hydrogen Hub entry was recently ranked by Rystad Energy among the top 10 likely to secure funding from the Department of Energy's regional clean hydrogen hubs program.

DCC GHG-free hydrogen-fueled boilers offer a highly efficient and sustainable alternative to conventional fossil fuel-based boilers. These boilers eliminate greenhouse gas emissions, providing a clean and eco-friendly source of steam for various industries and applications. Leveraging an exothermic reaction that combines pure hydrogen (H2) and pure oxygen (O2) gas, the DCC achieves an independently verified fuel efficiency of over 97%, with zero greenhouse gas emissions. Superscript 3 In December 2022, the DCC was awarded the Solar Impulse Foundation's prestigious "Solar Impulse Efficient Solution" label, recognizing profitable solutions to protect the environment.

ABOUT JERICHO ENERGY VENTURES Jericho Energy Ventures (JEV) is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold 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, ultra-efficient electrolyzer). Jericho also owns and operates long-held producing oil and gas JV 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.

We seek Safe Harbor.

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