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Investment Opportunity

Jericho Energy Ventures: Capitalizing on America’s $7bn Hydrogen Strategy

Energy

Jericho Energy Ventures Inc. | Listed on: TSXV:JEV.VN

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Who is Jericho Energy Ventures?

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Jericho Energy Ventures (TSXV: JEV) (OTC: JROOF) is poised to become a major disruptor in the energy industry.

The company, which has been steadily and intelligently built on a bedrock of traditional energy sources, is using its record-breaking income to bring an exciting array of green hydrogen products to market.

These innovative products address real problems, such as giving complex and hard-to-abate industries rare opportunities to decarbonize and making the production of green hydrogen far cheaper and more accessible.

There is a HUGE market opportunity for Jericho’s products too, with its zero-emissions hydrogen boiler product alone looking at an addressable market worth almost $30bn by 2030.

Massive backing from governments across the globe means the hydrogen energy space is projected to enjoy enormous growth in the coming years. It looks like the perfect time to invest in hydrogen.

Maybe that’s why Atrium Research have already given Jericho a BUY rating despite its current small size. That’s why we think this is an opportunity that investors won’t want to miss.

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Jericho Energy Ventures (JEV) Price Target & Analyst Rating

Jericho Energy Ventures recently received a positive analyst rating from Atrium Research, with the initial price target of CA$0.40 recently upgraded to CA$0.50 due to strong sales performance and growth. Atrium describes Jericho as “The Best of Both Worlds: Clean Hydrogen and O&G”. This report recognizes the disruptive potential of Jericho’s zero-emission hydrogen steam boiler system which is currently the focus of multiple engineering studies and will be the means by which a large public University will lower its district heating emissions.

Analyst: Atrium Research

Report Date: August 3rd, 2023 | View Analyst Report

Target Price:
$0.50 (CA) / share
Return to Target:
 
%
Exchange / Symbol
TSXV: JEV / OTC: JROOF
Market Capitalization
$ (CA)
Current price
$ (CA)
Current mid price
$ (CA)
52 Week high price
$ (CA)
52 Week low price
$ (CA)

Why You Should Consider Investing

  • Green Transition

    The Green Transition is a HUGE market opportunity for clean energy outfits like Jericho.

  • Hydrogen Exposure

    The hydrogen industry has MAJOR drivers behind it, including a US government project worth at least $7bn.

  • A Major Disruptor

    Jericho’s boiler technology is disrupting a $17bn industry with a zero-emissions solution.

  • Solid Foundations

    Record cash flow shows growth, meaning Jericho shareholders are protected against unnecessary share price dilution.

  • Powered By Experts

    Jericho is steered by experienced leaders, while influential shareholders include CEOs from successful companies like DuPont and Take-Two Interactive.

  • Analyst Approved

    Analyst coverage of Jericho rates the stock a BUY, validating its business plan.

A Surge of Positive News Highlights Jericho's Untapped Market Potential

Hydrogen H2 innovation zero emissions.

A series of heartening announcements underscore Jericho's distinctive product offering and potential. These highlight the decarbonization opportunity Jericho presents to the industrial and commercial markets.

A leading U.S. University selected Jericho’s DCC™ hydrogen boiler technology for deployment to decarbonize its district heating system, placing JEV at the forefront of decarbonizing the $198bn global district heating market.

Jericho also shared the exciting news that it is working with one of the world's largest alcoholic beverage companies. The drinks giant will conduct a decarbonization study on the implementation of Jericho’s DCC™ boilers across its production facilities in four different countries.

The US Department of Energy (DoE) is preparing to channel over $7bn into the hydrogen energy sector, with JEV emerging as a potential beneficiary. Jericho's proposal for funding features its zero-emission DCC™, in collaboration with a major U.S. food company.

In July 2023, the company announced a three-way EU partnership with Sofinter Group and Exogen, with the trio collaborating on a one-of-a-kind green technology that will allow commercial and industrial customers to eliminate a major portion of their harmful greenhouse gas emissions.

For instance, Exogen will supply green hydrogen company Lhyfe (EPA: LHYFE) with a pioneering Hydrogen Steam Plant (the HSP3000) that features Jericho’s patented DCC™ zero-emission boiler technology.

Furthermore, JEV significantly bolstered its flagship hydrogen technology with the award of a new patent from the US Patent and Trademark Office (US PTO). The move increases the protection of the company’s DCC™ hydrogen-fueled steam boiler as it begins to receive initial commercial orders for the technology.

With each strategic move and partnership, Jericho solidifies its position as a trailblazer in hydrogen technology.

Hydrogen H2 innovation zero emissions.

Green Transition

You’ve probably heard of the green transition. It’s no secret that this is one of the greatest challenges humanity has ever faced. In today’s rapidly evolving landscape, the green transition has become a ubiquitous term resonating across the globe, signifying a profound shift towards sustainable practices and products.

But that’s not bad news.

Why? Well, what might not have occurred to you is that this transformation is a fantastic opportunity for investors to build wealth by backing the revolutionary technologies that are going to change the face of how we generate, store and consume energy. Getting involved with green investment has been a huge trend among investors too. According to Statista, the value of assets allocated to ETF funds which included environmental, social, and governance (ESG) goals in their strategy increased from $5bn in 2006 to $391bn in 2021.

It’s no overstatement to paint this as a revolution either. Net zero pledges have been made by more than 70 nations, including powerhouses like the US, China and the European Union, and over 3,000 companies and financial institutions.

To highlight one king-size player specifically, the US has pledged to halve US greenhouse-gas emissions by 2030 and reach net-zero emissions by 2050. That’s no small task.

In order for this enormous shift in the industry to take place, a staggering amount of investment in sustainable energy is going to be required. This is something which is already happening.

This creates an enormous market for companies like Jericho Energy Ventures to step in with innovative clean energy solutions, allowing the business to make money and change the world for the better at the same time. It’s an exciting journey and one that shareholders can play a major role in.

Jericho Energy Ventures is targeting hydrogen development and innovation. But why does hydrogen look like such an attractive bet for the future of sustainable energy?

The Green Hydrogen Story

A huge level of investment is required for the green transformation, and a huge amount of that is already heading to the hydrogen industry. 

For example, the American Inflation Reduction Act provides tax credits of up to $3.00 per kg for the production of green hydrogen in a project’s first ten years of operation. Of course, this significantly incentivizes the energy source and makes any US-produced clean hydrogen the cheapest in the world. 

Next, there’s the Regional Clean Hydrogen Hubs program. This $7bn project aims to establish between six and ten clean hydrogen energy hubs across the United States, aiming to help citizens benefit from clean energy investments, good-paying jobs and improved energy security. Indeed, JEV is emerging as a potential beneficiary for this funding in collaboration with a major U.S. food company.

Furthermore, the Biden Administration has made a commitment to invest up to $1bn in a demand-side initiative that will support the Hydrogen Hubs programme. This has the potential to be directly beneficial to Jericho, as the company’s key boiler technology will increase demand for green hydrogen.

But that’s just what’s going on in the United States. Looking further afield, there are a lot of countries backing hydrogen to play a huge part in the green transition.

Let’s have a quick tour of some of the other nations around the world getting on board with hydrogen and look at how Jericho is already interacting with these valuable international markets:

EU

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The European Union is a major leader in hydrogen investment. The bloc is aiming to produce 10 million tonnes of renewable hydrogen by 2030 and to import 10 million tonnes by 2030.

Enormous amounts of public funding have flowed in too, with the IPCEI Hy2Use project seeing €5.2bn in public funding approved by the European Commission for the construction of hydrogen-related infrastructure and development of innovative clean hydrogen technologies. 

The EU has several different initiatives too. First off is the Clean Hydrogen Partnership, which is a joint public-private partnership that aims to contribute to the overall hydrogen strategy by funding research and investment activities. Next, there’s the Hydrogen Public Funding Compass, which is designed as a means of pairing renewable and low-carbon hydrogen companies with public funding.

Finally, The European Clean Hydrogen Alliance links industry players, public authorities and more to power the deployment of hydrogen technologies by 2030.

It’s clear that the EU is paying a huge amount of attention to clean hydrogen and is backing the energy source to play a huge role in the green transition. This is an opportunity that Jericho is already taking advantage of, having partnered with Exogen Hydrogen Solutions to penetrate the European market with its unique zero emissions boiler technology.

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Canada

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The last year has seen Canada introduce a Clean Hydrogen Investment Tax Credit, which will support up to 40% of total project costs and a 15% tax credit to equipment needed to convert hydrogen into ammonia for transportation.

This is an incentive particularly geared towards the cleanest hydrogen, with projects producing the most environmentally friendly product being rewarded with a larger tax credit. The initiative constitutes a major investment which is expected to cost the government around $5.6bn over five years.

Canada’s government has a history of backing hydrogen projects too. In November 2022 it confirmed a $300m investment in Air Products’ net-zero hydrogen energy complex in Alberta.

With Jericho jointly operating from Oklahoma and Vancouver, Canada is home turf for the company. As such, it is very well positioned to exploit the opportunities provided by the Canadian government’s increasing focus on hydrogen energy.

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UK

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Across the Channel in the United Kingdom, hydrogen is a clear priority too. The Hydrogen Strategy was released in 2021 by the UK government, calling for a “rapid ramp-up of production and use of hydrogen over the coming decade” and setting a production target of 5GW by 2030.

Since then, things have only got more ambitious. The official target is now for the installation of 10GW of new low-carbon hydrogen production capacity by 2030.

Then, there’s the net zero hydrogen fund, which aims to support the commercial deployment of new low-carbon hydrogen production projects through investment of up to £240m.

Additionally, the UK has introduced a new certification scheme to verify the sustainability of low-carbon hydrogen. This will further incentivize the use of clean hydrogen and the technologies which are needed to generate, store and use it.

Jericho’s Hydrogen Technologies subsidiary has inked an exclusive IP licensing agreement with UK-based Deuterium Heating Ltd, allowing its ground-breaking technology to reach the UK market. Additionally, Jericho has further presence in the UK courtesy of its Supercritical Solutions investment, which has its headquarters in Greater London.

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China

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We cannot talk about hydrogen, without bringing up the planet’s largest producer and consumer of the gas. With this status, it’s no surprise that China is paying some serious attention to hydrogen with numerous policies and initiatives.

Just a sample of these includes a target to have 50,000 hydrogen fuel-cell vehicles on the road by 2025, as well as the production of renewable-based hydrogen to hit the range of 100,000–200,000 tons annually.

With a huge industrial sector to decarbonise by its target net zero date of 2060, analysts have also speculated that major investment in clean hydrogen could hold the key to weaning China off coal.

Jericho has yet to do major business in China, but the company recently signed a memorandum of understanding to bring its zero-emission hydrogen boiler technology to nearby South Korea. As such, the business is beginning to build a presence in the Asian market.

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With this much attention from around the world, it’s no surprise that the hydrogen energy space is being slated for massive growth.

In March 2023, Goldman Sachs estimated that as much as 137 GW of green hydrogen projects will be installed in the US by the end of 2030. Compare that with the 0.3 GW of capacity that was installed at the end of 2020 and you might appreciate the colossal scope of the hydrogen opportunity. For additional context about this major upswing in green hydrogen, it's worth noting that the approximate average electricity consumption of the United States has been pegged at around 438 GW by Carbon Collective.

Goldman is far from alone in highlighting the industry’s massive growth potential. The World Bank estimated that hydrogen demand stood at 87 million metric tons (MT) in 2020, adding that it expected this to grow to 500–680 million MT by 2050.

With governments pouring huge amounts of money into hydrogen energy and financial institutions projecting major growth, has there ever been a better time to invest in hydrogen energy?

Companies like Jericho which will drive demand for hydrogen and exist right on the cutting edge are in a perfect place to benefit from this energy source’s huge potential.

Indeed, Jericho Energy Ventures is devoting substantial resources toward the green hydrogen transition, with its focus on clean industrial boilers and investments in electrolysis. Its progress is evident in its steady stream of partnerships and collaborations with prominent associates.

Hydrogen Boilers: How and Why?

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The key driving force for Jericho Energy Ventures right now is the company’s exciting hydrogen boiler technology, which it has an interest in thanks to its total ownership of its Hydrogen Technologies subsidiary.

It’s first important to understand that these are not common household boilers. Instead, Jericho’s CleanH2Steam Dynamic Combustion Chamber™ (DCC) is rather larger and targets the commercial and industrial markets.

They work in an elegantly simple manner, using the energy produced by hydrogen bonding with oxygen in order to flash-heat steam. Unlike most modern H2-ready boilers, the DCC™ uses a vacuum chamber to house the reaction rather than burning hydrogen in the presence of atmospheric air. This ensures a truly efficient product with zero emissions and water as the only by-product. 

Why are analysts backing Jericho’s share price to push higher? Find out more in our full report.

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Market Opportunity

Jericho’s DCC™ tech has an enormous addressable market.

According to Precedence Research, the combined commercial and industrial boiler markets are worth more than $17bn, with this set to increase to more than $27bn by 2030.

But it’s not just the size of this opportunity which is important. It’s also its character.

That’s because potential customers are under pressure to decarbonize due to net zero pledges. You might think boilers are an obvious target for these operations to make a significant reduction in their greenhouse gas output.

However, this is a space which is very old and low on innovation. Industrial and commercial steam boilers are not even widely seen as a use case for green hydrogen. That is where Jericho’s technology can be such a game-changer. It’s poised to have an impact by disrupting a space which is still stuck in the past. 

In fact, 35% of the industry is still using coal-powered boilers. That’s right, COAL. As such, switching to a zero-emissions solution like Jericho’s DCC™ boiler offers a major opportunity for businesses to have a positive impact.

It’s additionally key to note that the DCC™ boiler is suitable for hard-to-abate sectors such as the steel, cement and petrochemicals industries. These sectors are heavily reliant on carbon-emitting processes with little in the way of cost-effective alternatives. What’s more, they are responsible for around 30% of all greenhouse gas emissions. Because of Jericho’s unique product offering and focus on the industrial and commercial markets, they have a rare opportunity to reduce emissions.

There’s another key factor to motivate customers to switch to Jericho’s unique solution.

Commercial and industrial boilers have a lifespan of as much as 30 years. Just think about a company needing to replace boilers in 2023. You might think that it’s only a sense of environmental responsibility that would steer them towards seeking a clean solution like a hydrogen boiler. But, because they are having to think decades into the future, economic sensibilities are sending companies in that direction too.

That’s because the coming years are likely to see more in the way of clean energy incentives and fossil fuel deterrents put in place by governments across the globe.

Faced with the possibility of buying a traditional carbon-emitting boiler with a 30-year lifespan, smart companies understand that they need to stay ahead of the game, or they will end up paying for it later.

That’s why Jericho’s focus on the commercial and industrial market is such a strong move. It might be a small-cap stock right now, but this enormous opportunity gives Jericho great potential for growth.

Why are analysts backing Jericho’s share price to push higher? Find out more in our full report.

Leading With Experience

Every shareholder wants to know that their investment is in good hands, so it’s great to know that Jericho have some top talent leading the way. Their management team combines business acumen, investment expertise and energy experience to create a list of leaders investors can have confidence in. Here’s a rundown of Jericho’s team:

  • Brian Williamson

    CEO and President

    Brian Williamson has been a part of the energy industry since 1995. In his role as CEO, Williamson is responsible for the overall vision, direction, and corporate strategy of Jericho Energy Ventures. Day to day, he spends time working with Jericho’s leadership team sourcing, evaluating, and developing the company’s current investments along with identifying new, disruptive and clean technologies to add to the portfolio.

    After beginning his career at Arthur Andersen as part of its Tax and Business Advisory Practice, Williamson then became President and COO of The Harbor Group, a private equity-backed energy investment, trading and risk management firm in New York. At Harbor, he led the evaluation, due diligence, and execution of both physical and financial energy asset transactions.

    From 2006 until 2012, Williamson managed the private equity platform for a New York-based financial institution.

    Brian is also a Founding Board Member of Tulsa Renewable Business Alliance and holds a BS in Accounting from LaSalle University and a JD from Widener University School of Law.

  • Ryan Breen

    Head of Corporate Strategy

    Breen has been with Jericho since inception and is responsible for financial modelling, due diligence, structuring and execution as well as new investments and capital formation and lending activities. He has completed transactions totalling over $100m.

    Before joining Jericho Energy Ventures, Ryan was in the investment bank at J.P. Morgan, based in New York, working within the Diversified Industrials Group focused on Multi-Industrial, Aerospace & Defense and Transportation opportunities.  While at J.P. Morgan, Ryan participated in transaction structuring and execution, including M&A and Debt and Equity financings for Fortune 500 companies.

    He has a BA in History from Northwestern University.

  • Ben Holman

    Chief Financial Officer

    Holman has more than 17 years’ experience in accounting and business administration in the oil and gas industry, including senior positions at Apco Oil and Gas International Inc., a former subsidiary of The Williams Companies and WPX Energy. He has been working with Jericho at its Tulsa operational headquarters since November 2017. Mr. Holman is a CPA, with a MAcc, B.S. and BSBA, all from the University of Tulsa.

  • Janet Reiser

    Hydrogen Technologies President

    Reiser is an experienced policy maker, senior executive, and 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 as well as in executive and technical management. Janet is a Chemical Engineer by education and has been honored and recognized as one of the Top 50 Women in Hydrogen as well as being in the Top 10 in Hydrogen Technology and Innovation.

  • Dean Moretton

    Chief Commercial Officer

    Moretton oversees Hydrogen Technology’s commercial activities and expansion to capitalize on the ever-growing global demand for its breakthrough, zero-emission hydrogen DCC™ boiler solution as a steam or hot water solution in commercial and industrial applications, a clean district heat solution or carbon-free Combined Heat & Power (CHP) enabler.

    Dean brings 30+ years of successful experience in global energy markets, developing, selling, and marketing innovative products. Before joining, he led Digital Solutions sales and partnerships for utilities on behalf of Larsen & Toubro, one of India’s largest multi-national conglomerates. He previously served as President of ArcIT, Product Director at Alstom, and Manager at Arthur Andersen Consulting. He currently serves on the Board at Kankakee Valley Electric Cooperative. Dean holds an MBA from Indiana University’s Kelley School of Business and a BS in Electrical Engineering from Rose-Hulman.

Investment Summary

Jericho Energy Ventures is the changing face of energy. It’s a company which embraces change through investment in exciting new ideas and technologies.

With huge international attention being paid to the green transition, companies which embrace these values are in a strong position to see rising demand for their products and services.

Jericho is one of the most exciting businesses grasping this opportunity, having made intelligent acquisitions and strategic choices. In Hydrogen Technologies and the DCC™ boiler, the company has a proven technology which can produce clean energy and heat for a market that is crying out for such decarbonisation solutions. Hard-to-abate industries finally have a way to ditch the likes of coal and significantly reduce their carbon footprint, escaping decades of costly carbon taxes in the process.

It looks like a business plan which is gathering a head of steam. This is increasingly evident as its cascade of positive news flow gathers pace.

What’s more, Jericho can back this up with validation from partnerships which cross oceans, influential high-profile investors, financial analysts and a leadership team packed with expertise and experience.

Jericho is a marriage between hard clean-energy science and smart investment strategy, offering its shareholders exposure to the major opportunity that the green revolution holds.

If you want to embrace the green transition with an exciting and analyst-backed approach, consider investment in Jericho Energy Ventures (TSXV: JEV) (OTC: JROOF).

Want to find out more about Jericho’s green transition journey? Read our full report.

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