TULSA, OK and VANCOUVER, BC — Further to its news release on December 15, 2022, Jericho Energy Ventures Inc. (TSXV: JEV)(OTC: JROOF)(FRA: JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce that the U.S. Department of Energy (DOE) has encouraged the HALO Hydrogen Hub (HALO Hub) to submit a full application for the Regional Clean Hydrogen Hubs Program.
After completing independent evaluations of 79 first round concept papers, the DOE has invited 33 applicants — including the HALO Hub — to submit final applications.
JEV is a proud participant in the HALO Hydrogen Hub, a three-state partnership between Arkansas, Louisiana, and Oklahoma, which will submit an application to receive up to US$1.25 billion in DOE funding to spur hydrogen development and end-use. A joint press release regarding the DOE’s encouragement for HALO’s full application was issued by the three partner state Governors.
Louisiana Governor John Bel Edwards, stated, “HALO states already have a healthy infrastructure in place that is actively delivering the raw materials to our industrial base, which is in turn making use of that hydrogen feedstock – next steps will be making sure all that hydrogen becomes low-carbon and making it more available and accepted as a major energy source.”
As announced on Dec. 15, 2022, JEV’s HALO Hub submission included the utilization of its novel zero-emission DCC™ hydrogen fueled boiler in partnership with one of the largest food companies in the U.S., illustrating the potential and breadth of markets for its DCC™ and the role the Company expects it to play in decarbonizing the commercial and industrial heat and steam markets nationwide.
The HALO Hub encompasses a diverse network of stakeholders engaged in the promotion of hydrogen production, transport, storage, and utilization. For more information, visit www.h2alo.org.
The DOE’s Regional Clean Hydrogen Hubs program-or H2Hubs-includes up to US$7 billion in funding to assist with the establishment of six to 10 regional clean hydrogen hubs across America.
JEV, through its wholly owned subsidiary, Hydrogen Technologies (HT), owns the zero-emission Dynamic Combustion Chamber™ (DCC™), a [breakthrough] hydrogen fueled boiler with zero CO2 and zero Greenhouse Gas emissions which was designed to replace existing boilers that burn coal, natural gas, diesel, or fuel oil, which account for a significant percentage of global greenhouse gasses emitted each year. In December 2022, the DCC™ was awarded the Solar Impulse Foundation’s “Solar Impulse Efficient Solution” Label which recognizes profitable solutions to protect the environment.
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JEV also announces that that it has granted 325,000 employee incentive stock options (the “Options”), pursuant to its stock option plan (the “Plan”). The Options are exercisable at a price of CAD$0.35 for a period of up to 3 years.
