Business
RETRANSMISSION: Jericho Energy Ventures Leads Investment into New Class of Electrolyzer for Hydrogen Production with Chris Sacca's Lowercarbon Capital and New Energy Technology
Jericho's Investment Highlights Differentiated Deal Flow and Public Investor Access to Early...
About this update from Jericho Energy Ventures Inc
[{"type":"text","content":"RETRANSMISSION: Jericho Energy Ventures Leads Investment into New Class of Electrolyzer for Hydrogen Production with Chris Sacca’s Lowercarbon Capital and New Energy TechnologyJericho's Investment Highlights Differentiated Deal Flow and Public Investor Access to Early-stage, High-growth, Hydrogen-related CompaniesNEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / January 19, 2022 / Jericho Energy Ventures (TSXV:JEV)(FSE:JLM0)(OTC PINK:JROOF) (\"Jericho\" or \"JEV\" or the \"Company\") is pleased to announce it has led a Seed Series fundraising round for Supercritical Solutions, Ltd., (\"Supercritical\"), a Company focused on developing its new class of water electrolyzer for the production of low-cost clean hydrogen. Jericho's USD$1.78 million lead investment is joined by Chris Sacca's Lowercarbon Capital and New Energy Technology for a total commitment of USD$3.6 million, which Supercritical intends to use to support ongoing development of its disruptive electrolyzer technology. Existing investors include global mining company Anglo American and Deep Science Ventures.An underappreciated and fundamental flaw in electrolyzer design is the inability to output hydrogen at the pressures required for storage, transportation, and most end-use-cases. This is due to a number of factors, including the sensitivity of most electrolyzers' membranes to high pressures. As a result, expensive and maintenance-intensive compressors are required to be co-located with almost all electrolyzers, increasing the true cost and complexity of clean hydrogen. Supercritical has developed a new class of electrolyzer who's proprietary membraneless design enables it to exploit the benefits of supercritical water, outputting gases at over 200 bar of pressure. This delivers a step-change in efficiency for the production of hydrogen and eliminates expensive hydrogen compressors in most applications. Supercritical's technology takes direct aim at decarbonizing industrial hydrogen use cases - already a $120 billion market today. Hydrogen for use in ammonia production and hydrocarbon refining requires pressures of 70-230 bar, with most gaseous storage applications ranging from 350-700 bar.Big PictureHydrogen is a required molecule for our global Net Zero ambition - that's why over 70 Countries have outlined Hydrogen Roadmaps for their decarbonization goals to util...