- Jericho (JEV) has signed a Memorandum of Understanding with Ramp Equity to bring the zero-emission hydrogen boiler, to the South Korean market
- Ramp Equity Capital Partners is a private equity advisory fund focusing on renewable energy globally
- The distribution, R&D and commercialization MOU aims for the deployment of DCC boilers as part of the Affiliate’s overall hydrogen growth strategy
- Jericho Energy is a crude oil and natural gas company
- Jericho Energy Ventures (JEV) is up 5.66 per cent, trading at C$0.28 per share at 11:42 am ET
Jericho (TSXV:JEV) has signed a memorandum of understanding with Ramp Equity to bring the zero-emission hydrogen boiler, to the South Korean market.
Ramp Equity Capital Partners is a private equity advisory fund focusing on renewable energy.
Ramp is affiliated with one of South Korea’s largest renewables producing companies. It is actively exploring its entrance into the hydrogen market.
The MOU aims to deploy DCC boilers as part of the affiliate’s overall hydrogen growth strategy.
South Korean market
South Korea is a highly industrialized nation with a large manufacturing sector. It has laid out a goal of becoming 100 per cent carbon neutral by 2050.
It plans to source a third of its energy from hydrogen by that date. This makes the gas the largest single source of energy nationally.
This push to decarbonize the country has the government and South Korean businesses looking for alternative clean energy sources, with hydrogen being a major focus.
JEV and Ramp believe that South Korean industry could reduce emissions immediately by using the boiler technology. It aligns their operations with the government’s aggressive renewables and decarbonization plan.
About the hydrogen boiler
Jericho’s wholly owned subsidiary, Hydrogen Technologies, developed the novel DCC zero-emission hydrogen boiler.
HT’s cleanH2steam DCC is a hydrogen-fueled boiler with zero CO2 and zero Greenhouse Gas emissions.
DCC technology operates with a thermal efficiency of more than 95 per cent.
The DCC replaces existing polluting boilers that burn coal, natural gas, diesel, or fuel oil, which are a major source of global GHG emissions.
Jericho Energy Ventures
Jericho Energy is a crude oil and natural gas company. It engages in the exploration, development, and production of crude oil and natural gas.
Jericho’s wholly owned subsidiary, Hydrogen Technologies, delivers patented, zero-emission boiler technology.
Jericho Energy Ventures (JEV) is up 5.66 per cent, trading at C$0.28 per share at 11:42 am ET.
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