Jericho Energy Ventures and LINE hydrogen partner to bring clean H2 steam to Australia.
North America based Jericho Energy Ventures Inc. (TSXV:JEV) (OTC PINK:JROOF) (Frankfurt: JLM) (JEV) and Australia’s LINE Hydrogen (Australia) Pty Ltd (LINE Hydrogen) have executed a Memorandum of Understanding (Agreement) to bring to Australia a leading hydrogen boiler technology, known as DCC™ Boiler.
Hydrogen Technologies, a fully owned subsidiary of JEV, has patented a breakthrough method for burning hydrogen and oxygen in a vacuum chamber to create high-temperature water and/or steam with zero greenhouse gases. With the only by-product being water, the Dynamic Combustion Chamber Boiler (DCC™ Boiler) harnesses the power of hydrogen, for commercial heating, hot water and industrial steam boiler applications.
In an Australian first, LINE Hydrogen and JEV will collaborate to bring DCC™ Boilers to Australia. LINE Hydrogen will also make available to JEV and its customers priority supply of green hydrogen and look to enter into offtake agreements for the supply of LINE Hydrogen’s green hydrogen produced at its George Town Green Hydrogen Plant.
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JEV and LINE Hydrogen expect that additional industry partners will be announced in the coming months with the first DCC™ Boiler expected to be installed and commissioned in Tasmania in 2023 to match LINE Hydrogen’s green hydrogen production timeline.
Brian Williamson, CEO of JEV, stated:
Change starts with the end-user, and our zero-emission DCC™ Boiler delivers immediate emission reductions that is the catalyst for decarbonization hubs.
“We’re incredibly excited to work with LINE Hydrogen as we continue to transition to a clean energy future. By partnering up with LINE Hydrogen, we can provide end-users with surety of supply to make the transition to clean energy a win-win.”
Each DCC™ Boiler installed removes the CO2 equivalent of 2,500 cars per annum (or about 4,400 tons of CO2 per annum)[1]. JEV and LINE Hydrogen expect that the first DCC™ Boiler will be installed in Tasmania, Australia and supported by LINE Hydrogen’s green hydrogen plant at George Town, Tasmania in 2023.
The parties plan to build a consortium of end users. LINE Hydrogen will also investigate advanced manufacturing opportunities to manufacture the DCC™ Boiler in either Tasmania or the mainland.
LINE Hydrogen’s Managing Director, Gina Bozinovski, said that the Agreement provides Australian industry with innovative technology options to help industry transition to hydrogen.
Gina Bozinovski, LINE Hydrogen’s Managing Director, said:
LINE Hydrogen is already working with heavy industry to identify pathways to GHG emissions reduction through green hydrogen.
“JEV’s DCC™ Boiler will be a key part to meeting net-zero targets for businesses. We’re pleased to partner with Jericho Energy Ventures and to bring advanced manufacturing opportunities to regional Australia,” said Ms Bozinovski.
The Agreement comes on the back of the Australian and US Government’s joint statement on the Establishment of the Australia-US Net Zero Technology Acceleration Partnership, launched by the Minister for Climate Change and Energy, the Hon Chris Bowen, and the US Secretary of Energy, Jennifer M Granholm in Sydney last month.
The Agreement represents a practical collaboration between industry participants in each of the two countries in the development of the project and demonstrates the ability of business to deliver on both government policy and industry net-zero targets.
About JEV
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 approximately $30 Billion 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).
JEV 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 highly elevated commodity price environment.
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Jericho Energy Ventures and LINE Hydrogen Partner to Bring Clean H2 Steam to Australia, NEWTOWN, PA, and BRISBANE, AUSTRALIA, August 9, 2022
