partnered with two companies to have its subsidiary Hydrogen Technologies' new hydrogen-powered steam boiler system, the HSP3000, made and marketed, reported Atrium Research analyst Nicholas Cortellucci in a July 13 research note.
"We view the [development] as a solid advancement to Hydrogen Technologies' sales strategy and expect this to accelerate sales commitments through H2/23 . . . across various industries including pulp and paper, food and beverages, pharmaceuticals, industrial chemicals, and oil and gas," Cortellucci wrote.
Compelling Investment Return
After this news, noted Cortellucci, Atrium reiterated its Buy rating and CA$0.40 per share target price on Jericho, currently trading at about CA$0.245 per share.
The return to target from this share price implies a significant potential return for investors in Jericho of 63%.
About the Partnership
Jericho's new strategic industrial partnership is with the Sofinter Group, which will manufacture, install and service the HSP3000, and with EXOGEN Hydrogen Solutions, which will market the system, relayed Cortellucci.
Sofinter provides plants and parts for industrial steam production, power generation, and waste and water treatment. Through its Macchi brand, it designs and constructs industrial boilers and heat recovery systems for cogeneration cycles in the refining, oil and gas, and petrochemical sectors.
EXOGEN, which Jericho has worked with since October 2022, offers hydrogen energy solutions that help companies make progress toward their net-zero goals. EXOGEN plans to offer the HSP3000 "as an integrated product and engineering solution."
Cortellucci described the HSP3000 as a "breakthrough, zero-emissions, hydrogen-powered steam solution for industrial steam and thermal applications," which is scalable, modular, and turnkey.
The analyst highlighted that each product installation, according to Jericho, would reduce CO2 emissions in quantity equivalent to those produced by about 5,000 cars.
The product is "positioned to disrupt one of the largest carbon-emitting industries in the world, steam boilers," added Cortellucci.
The HSP3000 eliminates all nitrogen oxides, carbon dioxide (CO2), and other greenhouse gas emissions from industrial steam and district heating applications, allowing users to materially reduce their emissions and potentially gain carbon credits. Because the system exhausts clean water, it can be used with electrolyzer systems.
The HSP3000 features Hydrogen Technologies' patented dynamic combustion chamber boiler technology that does away with the need for smokestack or hazardous emissions management systems.
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- Jericho Energy Ventures Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- 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 Inc.
- Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
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Disclosures for Atrium Research, Jericho Energy Ventures Inc., July 13, 2023
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