Jericho Energy Ventures applauds DOE bipartisan infrastructure law $9,5 billion clean hydrogen initiatives.
Jericho Energy Ventures (TSXV:JEV)(Frankfurt:JLM0)(OTC PINK:JROOF) (“Jericho” or “JEV” or the “Company”), focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems, applauds the U.S. Department of Energy’s (DOE) establishment of the Bipartisan Infrastructure Law’s $9.5 Billion Clean Hydrogen Initiatives.
The DOE’s news release regarding the Initiatives recognizes clean hydrogen as being crucial to the DOE’s strategy for achieving President Biden’s goal of a 100% clean electrical grid by 2035 and net-zero carbon emissions by 2050.
The Bipartisan Infrastructure Law includes $8 billion for Regional Clean Hydrogen Hubs that will create jobs to expand use of clean hydrogen in the industrial sector and beyond; $1 billion for a Clean Hydrogen Electrolysis Program to reduce costs of hydrogen produced from clean electricity; and $500 million for Clean Hydrogen Manufacturing and Recycling Initiatives to support equipment manufacturing and strong domestic supply chains.
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Brian Williamson, CEO of Jericho Energy Ventures, stated:
The strong, bipartisan DOE initiative to fund innovation and accelerate deployment-at-scale of clean hydrogen, as a key initiative in the U.S. energy transition, will rapidly advance the clean molecule’s adoption for use as a fuel, feedstock and store of energy.
“Jericho’s strategy to actively invest, commercialize and scale the right technologies within the energy transition and the hydrogen ecosystem more specifically, aligns perfectly with the DOE’s stated objectives.”
“Public policy is an effective tool in bringing down the cost premium associated with clean technologies, and we look forward to being an active participant in the DOE’s initiatives to achieve net zero by 2050.”
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems.
Our wholly owned subsidiary, Hydrogen Technologies, delivers zero-emission boiler technology for the decarbonization of heat and steam utilized throughout industry.
We also hold strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyser platform) and Supercritical Solutions (developing the world’s first, high pressure, ultra-efficient electrolyser).
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Jericho Energy Ventures Applauds DOE Bipartisan Infrastructure Law’s $9.5 Billion Clean Hydrogen Initiatives, NEWTOWN, PA and VANCOUVER, BC, February 28, 2022
