Hydrogen Could Decarbonize Our Energy Needs and Unlock a Potential $11 Trillion Market(1)
First to Market, Jericho Energy Ventures (TSXV:JEV)(FWB:JLM0)(OTC:JROOF) Zero-Emission Hydrogen Boiler Could Transform The Roughly $30 Billion Global Commercial and Industrial Heating Industry(2)
Many of you know the world wants to transition to net-zero carbon emissions.(3)
In fact, about 189 countries seem to have adopted the Paris Climate Accord to assist.(2)
Four of the world’s largest economies appear to have announced net-zero carbon emission targets coupled with some of the world’s top companies looking to get involved, such as General Motors, DuPont, JP Morgan, Dow, Union Pacific, Shell, Microsoft, JetBlue, and Walmart.(3)
Also, about 30 global financial institutions representing roughly $5 trillion in assets formed the Net-Zero Asset Owner Alliance, aligning portfolios with the Paris Agreement. Blackrock, the largest asset manager globally, alongside other global funds holding about $18 trillion in assets, also seems to have announced capital reallocation towards sustainable and purposeful investments.(3)
These all could be powerful catalysts for hydrogen power moving forward.
Here’s Part of the Current Problem
- The traditional water heating, steam generation, and CHP [Combined Heat & Power] market have been powered by fossil fuel for approximately 100 years and producing harmful Carbon Dioxide (CO2), nitrogen oxides (NOx), and sulfur dioxide (SO2) emissions in the process. Through worldwide government-led emission-based performance standards, these harmful emissions seem to be increasingly phased out or eliminated.(4)
- Globally, roughly 85% of all Industrial Boilers emit harmful greenhouse gas emissions (GHG), with approximately 35% of the Industrial Boiler install base still powered by coal.(4)
- Critically, about 37% of all fossil fuels utilized in US Industry today are burned to produce steam, with all the major industrial energy users devoting significant proportions of their fossil fuel consumption to steam production: food processing (nearly 57%), pulp, and paper (roughly 81%), chemicals (approximately 42%), petroleum refining (about 23%) and primary metals (around 10%).(4)
It’s part of the reason we appear to be starting to see a shift towards hydrogen fuel.
In fact, supported by the global shift of regulators and attitudes towards decarbonization, hydrogen already seems to be receiving unprecedented interest and capital.(5)
This is also where Jericho Energy Ventures (TSXV:JEV)(FWB:JLM0)(OTC:JROOF) could come into play – with its Dynamic Combustion Chamber (DCC) boiler solution, which claims to provide zero emissions while remaining cost-competitive with traditional hydrocarbon boiler systems.
Jericho Energy Ventures is a company that envisions a transition towards affordable, accessible, and resilient clean energy, with the ability to identify and scale advantaged technologies with strategic partners.
The company wants to devote resources throughout the Hydrogen value chain focusing primarily on production and end-use markets. Its most current project includes a patented hydrogen-based Heat and Steam Boiler aiming to decarbonize an approximately $30 billion market.(8)
In fact, they recently acquired all the assets of Hydrogen Technologies Inc. (HTI). HTI appears to hold robust intellectual property for a breakthrough high-temperature Dynamic Combustion Chamber boiler that may enable zero-emissions hydrogen to generate heat, hot-water, high-temperature steam, and Combined Heat & Power through a closed-loop process.
How Much of a Game-Changer Could Hydrogen Power Be?
This Dynamic Combustion Chamber Could be Revolutionary
The patented DCC can be potentially used for various commercial and industrial applications and generate zero-emission electricity when combined with a turbine genset in CHP applications.
So far, the technology:(10)
- Appears to have been awarded the Solar Impulse Efficient Solutions Label in 2019
- Potentially requires no air permit, with water as the only by-product
- Likely eliminates all NOx, SOx, and CO2 emissions through a closed-loop combustion process
- Claims to produce at a roughly 30% greater efficiency than traditional fossil fuel boilers with a nearly 97% overall boiler thermal efficiency
- Seems to be cost-competitive to traditional hydrocarbon boiler systems based on the Total Cost of Production ($ / lb steam)
A Quick Look at the Patented Technology
- DCC Combustion can potentially produce an exothermic reaction between pure hydrogen and pure oxygen (the combustion oxidizer) by creating only local reaction heat and water (as hydrogen burns in the ultraviolet range).(9)
- Water immediately flashes to superheated steam in this 5,080oF / 2,804oC environment, encountering the boiler tubes, effectively transferring heat to the boiler shell to potentially create cycle steam for heat and power.(9)
- Traditional hydrocarbon fueled systems utilize the flame (burning in the infrared) and hot gasses to transfer the energy to cycle steam and then exit back to the atmosphere via a smokestack, losing valuable energy and emitting CO2, NOx, and SOx.(9)
- This fundamental condensing characteristic of the DCC process and natural vacuum formed from steam condensation within the exchanger tubes may capture virtually all the reaction heat (accounting for potentially more than 97% efficiency)
- Acts as a natural process barrier to hydrogen and the effects of embrittlement.
- Requires no smokestack and thus no need for FD or ID fans, lowering parasitic load (increasing efficiency) and O&M costs.
Jericho Energy Ventures (TSXV:JEV)(FWB:JLM0)(OTC:JROOF) Hydrogen Technology is Led by a Powerhouse Team
Before founding Hydrogen Technologies Inc. (HTI) in 2005, Ed spent most of his 30-year career with Florida Power & Light (now NextEra Energy) focused on low-carbon technologies with direct power plant experience, including equipment startup, maintenance, due diligence, government relations, and regulation promulgation. He began developing the HTI technologies in 2005 and is the co-investor and patent holder for the Dynamic Combustion Chamber (DCC).
Ms. Reiser is an experienced policymaker, senior executive, program manager with over 35 years of experience in energy management, engineering, construction, and telecommunications, most recently running the governmental Alaska Energy Authority. She is experienced in all phases of enterprise development and operations and executive and technical management. Janet is a Chemical Engineer by education.
Source 2: https://www.un.org/en/climatechange/paris-agreement
Source 3: https://www.fastcompany.com/90589586/the-u-s-can-get-to-net-zero-emissions-by-2050-heres-how
Source 4: https://www.globenewswire.com/news-release/2021/01/23/2163108/0/en/Jericho-Expands-Energy-Portfolio-with-Agreement-for-the-Acquisition-of-Hydrogen-Technology.html
Source 5: https://www.globenewswire.com/news-release/2021/02/19/2178754/0/en/Jericho-Proud-to-Support-Hydrogen-Council-s-Newest-Report-Highlighting-Hydrogen-s-Growing-Role-in-the-Clean-Energy-Sector.html
Source 6: https://www.barrons.com/articles/goldman-sachs-says-so-called-green-hydrogen-will-become-a-12-trillion-market-heres-how-to-play-it-51600860476
Source 7: https://www.cnbc.com/2020/09/27/hydrogen-is-at-a-tipping-point-with-11-trillion-market-set-to-explode-says-bank-of-america.html
Source 8: https://www.globenewswire.com/news-release/2021/01/23/2163108/0/en/Jericho-Expands-Energy-Portfolio-with-Agreement-for-the-Acquisition-of-Hydrogen-Technology.html
Source 9: https://hydrogentechnologiesinc.com/wp-content/uploads/sites/2/2021/02/Hydrogen-Technologies-Inc-Corporate-Presentation_vOutMASTER.pdf
Source 10: https://www.globenewswire.com/news-release/2021/01/27/2164972/0/en/Jericho-Oil-Hydrogen-Technologies-Inc-Launches-New-Website-and-Marketing-Materials.html
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Jericho Energy Ventures (https://jerichoenergyventures.com) is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems.