TULSA, OK and VANCOUVER, BC / ACCESSWIRE / March 29, 2023 / Hydrogen Technologies ("HT"), developer of the patented, zero-emission DCC™ hydrogen-fueled boiler, is pleased to announce that the U.S. Department of Energy (DOE) is now offering grant funding up to 80% to businesses interested in deploying hydrogen boilers to decarbonize industrial operations. These grants support businesses with operations in the U.S. in their efforts to decarbonize their steam production using technologies such as HT's hydrogen-fueled boilers.
HT's DCC™ boilers are an efficient and sustainable alternative to traditional fossil fuel-based boilers, and they eliminate GHG emissions, providing a cleaner and greener steam source for industry.
Details about the new DOE funding programs focused on decarbonizing U.S. industry:
- Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy (EERE) Industrial Efficiency and Decarbonization Office (IEDO) FY23 Multi-Topic FOA Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy Number: DE-FOA-0002997. Decarbonizing Industrial Heat. $156 million across 37 to 62 projects. Project size $750K to $10M. 5-page concept paper due 4/17/23. Full application due 6/23/23.
- Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED), Industrial Decarbonization & Emissions Reduction Demonstration-to-Deployment, FOA Number: DE-FOA-0002936. $6 billion across 22 to 65 projects. Project size from $35M to $500M. 10-page concept paper due 4/21/23. Full application due 8/04/23.
With submission deadlines fast approaching, it is essential for businesses to act fast and take advantage of this opportunity to support their sustainability efforts while saving money and creating local jobs.
Organizations interested in participating in the grants program should visit Hydrogen Technologies' website and fill out the form on the "Funding Opportunities" tab.
HT's DCC™ boiler was developed to be THE boiler for a CO2-free future. It maximizes thermal efficiency, minimizes operating headaches, and emits absolutely no greenhouse gasses or other pollutants. By combining pure hydrogen (H2) and pure oxygen (O2) gas in an exothermic reaction, the DCC™ being demonstrated achieves independently verified GHG-free fuel efficiency greater than 97%.1 In December 2022, the DCC™ was awarded the Solar Impulse Foundation's prestigious "Solar Impulse Efficient Solution" label which recognizes profitable solutions to protect the environment.
About Hydrogen Technologies
Hydrogen Technologies (HT) offers its award-winning CLEAN, ZERO-EMISSION ENERGY SOLUTION for the Commercial and Industrial Boiler Market. There are a wide range of applications for our cleanH2steam DCC™ Boiler, which work much like traditional commercial heat, hot water and industrial steam boilers: be it district heating, food processing, chemical refining, pharmaceuticals, pulp and paper mills or industrial manufacturing processes, HT has a reliable, efficient and clean solution for your GHG and ESG goals. HT is a wholly owned subsidiary of Jericho Energy Ventures Inc.
Website: https://hydrogentechnologiesinc.com/
Twitter: https://twitter.com/h2_technologies
LinkedIn: https://www.linkedin.com/company/hydrogen-technologies-inc/
HT CONTACT:
Dean Morrison, Chief Commercial Officer
Hydrogen Technologies
sales@hydrogentechnologiesinc.com
About Jericho Energy Ventures
Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF)(FRA:JLM) (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 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). 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 elevated commodity price environment.
Website: https://jerichoenergyventures.com/
Twitter: https://twitter.com/JerichoEV
LinkedIn: https://www.linkedin.com/company/jericho-energy-ventures
YouTube: https://www.youtube.com/c/JerichoEnergyVentures
JEV CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Dir. of Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
investorrelations@jerichoenergyventures.com
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho's control. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "will" or "may not" occur. Specifically, this news release contains forward-looking statements relating to, among others, future demand for DCC™ boilers.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho's public filings available at www.sedar.com.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company's (or its subsidiaries') technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 Process Engineering Associates, LLC, "DCC™ Efficiency Test Report" by Chris Muntean, Aug. 2022
SOURCE: Jericho Energy Ventures Inc.
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