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Jericho Energy Ventures and EXOGEN Hydrogen Solutions to bring boiler tech to Europe

Jericho Energy Ventures and EXOGEN Hydrogen Solutions to bring boiler tech to Europe
Jericho Energy Ventures Inc.(JEV), and EXOGEN Hydrogen Solutions (EXOGEN), a fully owned subsidiary of Park Lane Capital Ltd, have executed a Memorandum of Understanding (MoU) to bring a hydrogen boiler technology, known as "DCC Boiler", to the EU (image courtesy Hydrogen Technologies).

North America-based energy company Jericho Energy Ventures Inc.(JEV), and Europe-based EXOGEN Hydrogen Solutions (EXOGEN), a fully owned subsidiary of UK-headed ESG specialist Park Lane Capital Ltd, have executed a Memorandum of Understanding (Agreement) to bring a hydrogen boiler technology, known as "DCC Boiler", to the European Union (EU).

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Hydrogen Technologies LLC, (HT) a fully owned subsidiary of JEV, has patented a breakthrough method for burning pure hydrogen and oxygen in a vacuum chamber to create high-temperature water and/or steam with zero greenhouse gases (GHGs).

With the only by-product being water, the Dynamic Combustion Chamber Boiler (DCC Boiler) harnesses the power of hydrogen for commercial heating, hot water, and industrial steam boiler applications.

Novel zero-emission design

HT’s design is in stark contrast to current ‘H2-Ready’ boilers, which burn hydrogen (H2) in the presence of atmospheric air. This generates emissions that must be vented via a flue stack, a relic of natural gas-fired boilers, and leads to both efficiency losses and GHG emissions.

EXOGEN and JEV will collaborate to bring DCC Boilers to the EU markets, while EXOGEN, through its parent Park Lane Capital, will also make available its expertise in ESG solutions built over more than a decade.

JEV and EXOGEN expect that additional industry partners will be announced in the coming months with the first DCC Boiler expected to be installed and commissioned in Europe in 2023 to match EXOGEN’s green hydrogen implementation timeline, which includes green hydrogen production from its own, innovative photovoltaic installations.

Change starts with the end-user, and our zero-emission DCC Boiler delivers immediate emission reductions that are the catalyst for decarbonization goals. We’re incredibly excited to work with EXOGEN as we continue to transition to a clean energy future. By partnering up with EXOGEN, we can provide industry and commerce with cutting-edge technology and end-to-end services, said Brian Williamson, CEO of JEV.

Develop a value chain

JEV and EXOGEN anticipate a rapidly growing pipeline of new hydrogen projects across the 27 Member countries of the EU. The increasing interest in the DCC Boiler from some of the world’s largest commercial and industrial users of steam highlights its unique potential for efforts to decarbonize hard-to-abate industries.

For site-specific implementations, the parties plan to build a consortium of end users capturing the full hydrogen value chain. EXOGEN intends to invest in additional partnerships for green hydrogen production as a strategic complement to the deployment of the DCC Boilers.

The parties expect that EU-based public programs for the roll-out of upstream hydrogen infrastructure and logistics will, where accessed, accelerate the parties’ EU expansion plans.

EXOGEN’s co-founder and CEO, Mario Reinisch, said that the MoU provides the EU with access to leading technology options for the green energy transition.

EXOGEN is already working with the European food industry to identify pathways to GHG emissions reduction through green hydrogen. JEV’s DCC Boiler will be a key enabler to meeting net-zero targets for hard-to-abate industry, commerce, and the built environment – such as district and campus heating. We’re enthusiastic to partner with Jericho Energy Ventures and bring cutting-edge hydrogen technology innovations to Europe, Mario Reinisch said.

Conducive  policy framework

The MoU comes on the back of the “European Green Deal”, the EU Commission’s flagship program for reaching net-zero GHG emission targets by 2050. As a first milestone, the current GHG emissions program, “Fit for 55”, seeks to reduce emissions by 55 percent by 2030.

Earlier this year, the EU Commission implemented the REPowerEU directive, which has brought additional urgency to the green energy transition. REPowerEU is increasing the headline 2030 target for renewable energy penetration from 40 percent to 45 percent across all 27 Member countries.

The substantial financial backing that comes with these government programs should further accelerate the deployment of green energy assets for the 450 million citizens of the Union, with a particular focus on green hydrogen as the energy carrier of the future.

The parties expect that breakthrough technologies, such as JEV’s DCC Boiler will be a key enabler for reaching the net-zero emissions target set by the EU Commission for 2050.

The MoU represents an impactful and practical collaboration between international industry participants and demonstrates the ability of businesses to deliver on both government policy and ambitious roadmaps for decarbonization.

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