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

Source: Streetwise Reports   02/15/2022

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 DCC^TM 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 Nestlé, 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 Rémy 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™ 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.”

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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.

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