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NEWTOWN, Pa. and VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) — Roughly six weeks following its acquisition of Hydrogen Technologies Inc (“HTI”), Jericho Vitality Ventures (TSXV: JEV; Frankfurt: JLM0; OTC: JROOF) (“Jericho” or “JEV” or the “Firm”) is happy to offer shareholders with an replace concerning the substantial progress and growing demand for HTI’s patented zero-emissions, hydrogen-based, cleanH2steam Dynamic Combustion Chamber™ (DCC™) boiler.
The Firm has had ongoing discussions with a roster of potential clients which might be massive shoppers of warmth and steam for house warmth, sizzling water, high-quality course of steam and high-pressure steam for Mixed Warmth & Energy functions. Steam intensive industries that intention to decarbonize their processes are inquiring concerning the DCC™, together with corporations centered on fundamental Chemical substances and Petrochemicals in addition to Meals and Beverage processing. As extra firms signal on to change into Internet-Zero, analyzing thermal vitality necessities turns into a right away focus for attaining their targets. The DCC™ resolution permits our clients to quick observe their emission discount targets.
The Meals and Beverage trade, particularly, is very centered on delivering shoppers with low Carbon Content material merchandise introducing Carbon Labels displaying a product’s lifetime carbon footprint. The rising use of so-called Carbon Labels comes as shoppers, traders and regulators are more and more occupied with emissions amid rising concern about international warming. Over 57% of the meals and beverage processing industries’ carbon emissions come from excessive utilization of steam for sterilization, disinfecting, decreasing microbiological dangers along with cooking, curing and drying. Decreasing their emissions, means decreasing their reliance on emissions-based boilers.
The second supply of inbound demand has largely come from clients and vitality consultants centered on the Energy and Utility markets, the place the DCC™ might be utilized to create high-pressure steam for a turbine to run in a Mixed Warmth and Energy plant setting. Hydrogen’s skill to be a retailer of vitality and be separate from the DCC™ system permits clients to make the most of favorable energy pricing throughout off-peak hours or when renewable energy sources generate extra energy provide to supply the hydrogen enter gasoline – creating a good financial proposition.
Ryan Breen, Head of Company Technique at JEV & HTI, commented, “Our rising buyer pipeline is a testomony to our distinctive zero-emissions hydrogen-based boiler. Intensifying efforts by massive steam consuming firms to realize their Internet-Zero objectives, along with supportive public coverage, present robust tailwinds to our enterprise fundamentals. We stay up for additional educating the market about our new hydrogen-based resolution and changing sturdy buyer curiosity into repeatable gross sales.”The newest global policy developments show the crucial position clear hydrogen performs sooner or later vitality and decarbonization plans of a quickly increasing roster of countries and Fortune 500 corporations. HTI’s go-to-market technique goals at decarbonizing the almost $30 billion Business & Industrial heating sectors with clear Steam and the Firm lately announced a producing companion for its DCC™ boilers as step one in scaling up the enterprise to satisfy the ever evolving demand for its zero emission hydrogen-based boiler resolution.
As well as, as beforehand introduced, JEV had engaged Hybrid Monetary Ltd. (“Hybrid”) to offer advertising and marketing companies to the Firm. Hybrid, situated in Toronto, Ontario and managed by Steven Marshall, has been retained to increase market and model consciousness for JEV and to broaden the Firm’s attain throughout the funding neighborhood. Hybrid is within the enterprise of offering advertising and marketing and investor communication companies. Hybrid has been engaged by JEV for an preliminary interval of six months and can be paid a month-to-month payment of CAD$15,000 plus relevant taxes. Except the settlement to offer the foregoing companies, JEV doesn’t have any relationship with Hybrid. Hybrid doesn’t maintain, immediately or not directly, any securities of JEV or a proper to amass such securities.
JEV had additionally engaged Successful Media (“WM”) to offer strategic digital media companies, advertising and marketing, and knowledge analytics companies (the “Companies”). WM, situated in Houston, Texas and managed by Ty Hoffer and is within the enterprise of offering copywriting and design companies. The Firm has agreed to pay USD$150,000 in consideration for the Companies to be supplied for a 1-month time period and is renewable on the Firm’s choice. Except the settlement to offer the Companies, JEV doesn’t have any relationship with WM. WM doesn’t maintain, immediately or not directly, any securities of JEV or a proper to amass such securities.About Jericho Vitality VenturesJericho Vitality Ventures (https://jerichoenergyventures.com) is targeted on advancing the low-carbon vitality transition with investments in hydrogen applied sciences, vitality storage, carbon seize and new vitality programs.CONTACT: Adam Rabiner Director of IRJericho Vitality Ventures604.firstname.lastname@example.orgThis information launch comprises sure “forward-looking info” throughout the which means of relevant Canadian securities laws and might also comprise statements that will represent “forward-looking statements” throughout the which means of the secure harbor provisions of the US Personal Securities Litigation Reform Act of 1995. Such forward-looking info and forward-looking statements usually are not consultant of historic information or info or present situation, however as a substitute characterize solely Jericho’s beliefs concerning future occasions, plans or targets, a lot of which, by their nature, are inherently unsure and out of doors of Jericho’s management. Usually, such forward-looking info or forward-looking statements might be recognized by means of forward-looking terminology akin to “plans”, “expects” or “doesn’t anticipate”, “is anticipated”, “funds”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or could comprise statements that sure actions, occasions or outcomes “could”, “might”, “would”, “would possibly” or “can be taken”, “will proceed”, “will happen” or “can be achieved”. Though Jericho believes that the assumptions and components utilized in getting ready, and the expectations contained in, the forward-looking info and statements are cheap, undue reliance shouldn’t be positioned on such info and statements, and no assurance or assure might be on condition that such forward-looking info and statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such info and statements. Ahead-looking info and statements are topic to quite a lot of dangers and uncertainties and different components that might trigger precise occasions or outcomes to vary materially from these anticipated within the forward-looking info and statements which embody, however usually are not restricted to: the results of and dangers related to the continued COVID-19 pandemic, the affect of common financial situations, trade situations and present and future commodity costs together with sustained low oil costs, important and ongoing inventory market volatility, forex and rates of interest, governmental regulation of the oil and gasoline trade, together with environmental regulation; geological, technical and drilling issues; unanticipated working occasions; competitors for and/or lack of ability to retain drilling rigs and different companies; the provision of capital on acceptable phrases; the necessity to get hold of required approvals from regulatory authorities; liabilities inherent in oil and gasoline exploration, growth and manufacturing operations; and the opposite components described in our public filings out there at www.sedar.com. Readers are cautioned that this record of danger components shouldn’t be construed as exhaustive. The forward-looking info and forward-looking statements contained on this information launch are made as of the date of this information launch, and Jericho doesn’t undertake to replace any forward-looking info and/or forward-looking statements which might be contained or referenced herein, besides in accordance with relevant securities legal guidelines.Neither TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.
Supply: Jericho Vitality Ventures