Jericho Energy Ventures reports on energy infrastructure initiatives that connect its Oklahoma oil and gas assets with power solutions for AI data center development. Company updates include on-site power generation, grid interconnection, natural-gas supply, subsurface storage concepts and development activity around its Noble County, Oklahoma AI data center campus.
Recurring news also covers legacy oil and gas asset optimization, private placements, board and management appointments, strategic partnerships and financial reporting status. The company’s public updates frame JROOF as an energy innovation issuer focused on the overlap between power infrastructure, natural gas resources and build-to-suit digital infrastructure.
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Jericho Energy Ventures (OTC:JROOF) announces a new initiative by its subsidiary, Hydrogen Technologies (HT), focusing on the adoption of its cleanH2steam DCC™ zero-emission hydrogen boiler technology. This aligns with the U.S. Department of Energy's USD$7.5 million funding opportunity aimed at reducing carbon emissions in district heat systems. HT's technology promises to eliminate CO2, SOX, and NOX emissions, appealing to district energy operators. The company will engage with industry leaders at upcoming conferences to promote early adoption of this innovative solution.
Jericho Energy Ventures has appointed Dean Moretton as Chief Commercial Officer of its subsidiary, Hydrogen Technologies, effective February 1, 2022. Dean will oversee HT's commercial activities and expansion, focusing on the growing demand for its zero-emission hydrogen DCC™ boiler solution. He brings over 30 years of experience from leading roles in global energy markets. CEO Brian Williamson expressed enthusiasm for Dean's appointment, highlighting his relevant leadership background.
Jericho Energy Ventures has successfully led a Seed Series fundraising round for Supercritical Solutions, Ltd., securing USD$1.78 million for the development of its innovative electrolyzer technology aimed at producing low-cost clean hydrogen. The total investment reached USD$3.6 million with significant backing from notable investors. Supercritical's unique membraneless electrolyzer operates at over 200 bar pressure, potentially transforming the hydrogen production market, which is expected to grow significantly as global energy needs shift towards decarbonization.
Jericho Energy Ventures (OTC:JROOF) has successfully closed a non-brokered private placement of convertible debentures generating gross proceeds of CAD$5.7 million. The debentures, priced at CAD$0.70, are set to mature in 36 months, with an interest rate of 4% annually after one year. Each debenture is accompanied by a warrant to purchase common shares at CAD$1.00 for three years. Insider participation included CAD$1.48 million, exempting certain regulatory approvals. Proceeds will fund working capital and growth initiatives, facilitating potential future opportunities.
Jericho Energy Ventures (OTC PINK:JROOF) announced plans to raise approximately CAD$6 million through a non-brokered private placement of convertible debentures. The debentures, unsecured and maturing in 36 months, will bear an interest rate of 4% annually after one year. Investors can convert the principal at CAD$0.70 per share and accrued interest at market prices. Additionally, each CAD$0.70 debenture will come with a warrant to purchase common shares at CAD$1.00 for three years. Proceeds will support working capital and growth initiatives, pending TSX Venture Exchange approval.
Jericho Energy Ventures (TSXV:JEV)(OTC PINK:JROOF) is partnering with Bruichladdich Distillery and Protium to deploy a pioneering green hydrogen boiler system for decarbonizing whisky production. The project, backed by a USD $3.5 million grant from the UK Government’s Green Distilleries Competition, will utilize Jericho's Dynamic Combustion Chamber (DCC™) technology. This initiative not only aims to reduce carbon emissions significantly but also sets a precedent for North American brands in their decarbonization strategies.
Jericho Energy Ventures (OTC PINK:JROOF) announces its subsidiary, Hydrogen Technologies, will exhibit and present at the IDEA2021 Conference in Austin, TX from September 27-29. President Janet Reiser will present their breakthrough zero-emission technology, the Dynamic Combustion Chamber (DCC) boiler system, on September 29. This conference is a key event for stakeholders in district energy and sustainable technology. Jericho aims to advance the low-carbon energy transition through hydrogen technologies and energy efficiency.
Jericho Energy Ventures (OTC PINK:JROOF) announced that its subsidiary, Hydrogen Technologies, will participate at the Gastech Hydrogen Exhibition & Conference from September 21-23 in Dubai. The event aims to position hydrogen as a clean energy solution, bringing together over 15,000 attendees and 2000 delegates globally. Hydrogen Technologies will showcase its zero-emission cleanH2steam Dynamic Combustion Chamber™ boiler system, developed in partnership with UnitBirwelco. This participation reflects the growing interest in their hydrogen solutions from various international organizations.
Jericho Energy Ventures (OTC PINK:JROOF) has submitted vital research to the U.S. Department of Energy's Earthshot Hydrogen Program's Request for Information. This initiative aims to boost clean hydrogen innovations to achieve a net-zero carbon economy by 2050. Jericho's proprietary Dynamic Combustion Chamber™ (DCC™) technology is a zero-emission boiler already operational in California. CEO Brian Williamson stated that hydrogen will play a crucial role in the energy transition, targeting the $30 billion Commercial & Industrial steam market.