Jericho Energy Ventures, Exogen Hydrogen solutions and sofinter group announce european industrial partnership.
Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”), EXOGEN Hydrogen Solutions (“Exogen”) and Sofinter Group (“Sofinter”) announce a strategic industrial partnership to manufacture, implement, and service an innovative new Hydrogen Steam Plant, the HSP3000, as a scalable, turnkey solution.
INDUSTRIAL PARTNERSHIP
The HSP3000 is being produced and assembled by industry leader Sofinter Group. This first-of-its-kind hydrogen steam plant features the patented DCC™ boiler technology developed by Hydrogen Technologies, a wholly owned subsidiary of Jericho Energy Ventures. Exogen offers the HSP3000 as an integrated product and engineering solution including hydrogen production and storage units.
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the hydrogen economy!
Hydrogen Central is the global go-to online magazine for the hydrogen economy, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
TURNKEY SOLUTION
The HSP3000 is a breakthrough, zero-emissions, hydrogen-powered steam solution for industrial steam and thermal applications. The plant comes pre-assembled in container-sized units and ships by road transport.
Each HSP3000 installation is expected to permanently eliminate the CO2 equivalent of about 5,000 cars.¹ It is a powerful way for reaching Net Zero objectives, accelerating the impact roadmap for many industrial businesses and district heating facilities.
Because of its pioneering design, the HSP3000 requires no smokestack or hazardous emission management systems. The only exhaust of the plant installation is clean water, which is ready for circular use with electrolyzer systems, further enhancing its positive environmental impact.
For clients, this turnkey solution would eliminate onsite engineering risks associated with legacy methane boiler systems under hydrogen blending. It thereby significantly lowers the barriers to hydrogen technology adoption. The hydrogen steam plant is modular and scalable and will suit site-specific customer needs.
An additional upside comes from permanently eliminating all NOx, CO2 and other GHG emissions from industrial steam and district heating applications. As a result, many businesses may have the opportunity to harvest their highly valuable carbon permits for immediate economic payback.
FAST-GROWING MARKET
The fast-growing project pipeline represents strong global demand for novel decarbonization solutions for hard-to-abate sectors. There are many legacy industrial steam and district heating installations that must be replaced to achieve Net Zero emission targets.
Hard-to-abate sectors, such as steel, glass, and cement are ramping up the deployment of hydrogen furnaces to decarbonize their production process. With the Exogen HSP3000, decarbonization now also becomes available for a wider range of industries with equally heavy NOx and CO2 emission profiles. This new frontier of hydrogen technology applications reaches Pulp & Paper, Food & Beverages, Pharmaceuticals, Industrial Chemicals and even the Oil & Gas industry.
There is an equally strong demand for decarbonization in the 16EJ (or 507 GW) district heating market.² Application demand ranges from Hospitals and Airports to actual City Districts and industrial-scale Glasshouses.
MANAGEMENT COMMENTS
Brian Williamson, CEO of Jericho Energy Ventures, said:
Decarbonizing heat is the holy grail in energy markets and at Jericho we are right in the middle of it.
“With our leading hydrogen technologies, we are enablers of the green energy transition. Therefore, we are very excited about our three-way partnership with Sofinter Group in manufacturing and after-market services, and Exogen in product and engineering solutions. By joining forces to solve some of the most important problems of our time, we are in a leading position to service the decarbonization needs of the large industrial steam market and the equally expansive district heating segments. The future is green, and we are proud to be part of the solution.”
Mario Reinisch, CEO of Exogen Hydrogen Solutions, said:
The HSP3000 is a bold step into a Net Zero future.
“Bringing this pioneering plant design to market as a turnkey product is the result of the combined effort of three hydrogen technology leaders. We are very pleased to partner with Sofinter Group, and Jericho Energy Ventures, both sharing our vision. Decarbonizing steam long seemed out of reach, earning the dreadful label, “hard-to-abate.” But now, with the HSP3000, there is an effective solution. Together we accelerate the energy transition with hydrogen for a sustainable future.”
Giorgio Bona, General Manager of Sofinter Group, said:
The world of energy is changing fast, and the Exogen HSP3000 is an ideal fit for our strategic road map servicing the booming Net Zero economy.
“At Sofinter we are pioneers in the development of innovative combustion techniques with low emissions and high environmental sustainability. Therefore, decarbonization solutions are a strategic priority for us. We are very excited to work with Exogen and Jericho, supporting their bold step into a Net Zero future, servicing their impressive growth pipeline with our international manufacturing footprint and aftermarket service know-how.”
ABOUT JERICHO ENERGY VENTURES
Jericho Energy Ventures 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 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 novel electrocatalyst and low-cost iridium-free 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 commodity price environment.
READ the latest news shaping the hydrogen market at Hydrogen Central
Jericho Energy Ventures, Exogen Hydrogen Solutions and Sofinter Group Announce European Industrial Partnership, VANCOUVER, BC, LONDON, UK and MILAN, ITALY, July 13, 2023
