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Clean Energy Co. & 2 Food Giants Team Up to Seek Net-Zero

February 16, 2022 (Investorideas.com Newswire) Jericho Energy Ventures branches out to support two North American-based food companies reduce their energy footprints with the company’s groundbreaking zero-emission DCC hydrogen boiler solution.

Reducing their energy footprint is a major goal of numerous companies, and two major North American food companies – one of the largest global dairy product companies and one of Canada’s largest food manufacturing companies – just signed agreements with Jericho Energy Ventures Inc.’s (JEV:TSX.V; JROOF:OTCMKTS) 100%-owned subsidiary Hydrogen Technologies to explore the use of its cleanH2steam DCCTM hydrogen boiler to supply “zero-emission steam for use in food processing and commercial facilities,” the company just announced. Hydrogen Technologies notes that it has developed the world’s first zero-emission, closed-loop hydrogen boiler.

The company stated that it will begin by developing the process design for selected facilities, with the goal to expand the use of the technology companywide at both food companies.

“At the core of our collaboration agreements with these industry-leading food companies is the potential to develop an innovative and integrated hydrogen offering for commercialization and deployment of smarter, cleaner, and more economic energy solutions. People care about how food and beverages are made and the emissions that go into these processes. These leaders are setting an example of how to transition the production of high-quality food to a cleaner more environmentally sustainable process, ” said Brian Williamson, CEO of Jericho Energy Ventures.

Although Jericho did not release the names of the two companies, the top 20 global dairy companies includes familiar names like Nestle, with annual dairy sales of $27.8 billion; Danone, $19.5 billion in dairy sales; and Dairy Farmers of America, which has numerous brands including Borden and Breakstone’s and dairy sales of $17.9 billion. The largest Canadian food manufacturing companies includes Kraft Heinz Canada, which supplies nearly 10% of its $42-billion-market-cap parent company’s global sales; C$12 billion market cap Saputo Inc.; and McCain Foods Ltd., a privately held company with annual sales of around CA$6.5 billion.

This move comes after Jericho’s announcement late last year that it would be collaborating with Remy Cointreau’s Bruichladdich Distillery in Scotland, installing its zero-emission hydrogen boiler to run the stills that produce Scotch and artisanal gin.

“We are very much looking forward to working with many more leading food and beverage companies from around the world as they look to follow suit and move to decarbonize operations in a practical, efficient and timely manner,” said Hydrogen Technologies President Janet Reiser.

The company notes that its cleanH2steam DCC(TM) Boiler works much like traditional commercial heat, hot water and industrial steam boilers and has applications for “power generation plants, district heating, food processing, chemical refining, pulp and paper mills or large venue halls.”

Disclosures

1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She owns, or members of her immediate household or family own, securities of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Jericho Energy Ventures. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Jericho Energy Ventures, a company mentioned in this article.

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