VANCOUVER – Jericho Oil Corporation (TSX-V: JCO; Frankfurt: JLM; OTC: JROOF) today announced support of the Hydrogen Council’s new report released Wednesday highlighting hydrogen’s role in a rapid and deep decarbonizing world, including its cost competitiveness and various end applications. The report offers a comprehensive perspective on market deployment around the world, investment momentum as well as implications on cost competitiveness of hydrogen solutions.
Key Findings Outlined in the Report:
- Hydrogen is gathering strong momentum as a key energy transition pillar
- Deployment and investments: Announced hydrogen investments have accelerated rapidly in response to government commitments to deep decarbonization with over 200 announced projects totaling $300 billion in spending
- Supply: If scaled up with the right regulatory framework, clean hydrogen costs can fall faster than expected
- Distribution: Cost-efficient transmission and distribution required to unlock hydrogen applications
- End applications: Falling clean hydrogen costs and application specific cost drivers improve the cost competitiveness of hydrogen applications
Critically, the report recognizes multiple hydrogen applications that can be the most cost competitive low-carbon solutions from a total cost of ownership perspective, highlighting hydrogen-based boilers for various low-grade, mid-grade and high-grade heating applications.
Brian Williamson, CEO of Jericho, states, “Supported by the global shift of regulators, investors and consumers toward decarbonization, hydrogen is receiving unprecedented interest and investments. Given Jericho’s recent acquisition of Hydrogen Technologies Inc.’s novel and patented hydrogen-based cleanH2steam DCC boiler, we are pleased to see industry reports outlining the incredible progress and macro tailwinds pushing hydrogen as a zero-carbon fuel and feedstock required to meet our global sustainability goals. Our HTI cleanH2steam DCC boiler solution provides zero emissions, higher overall efficiencies while remaining cost competitive with traditional hydrocarbon boiler systems.”
We seek Safe Harbor.