Source: Streetwise Reports (10/30/23)
Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTC; JLM:FSE) announced it has signed a memorandum of understanding (MOU) with Kansas-based Superior Boiler to manufacture its zero-emission hydrogen boiler.
The Dynamic Combustion Chamber™ (DCC) boiler was designed by Jericho subsidiary Hydrogen Technologies. It burns hydrogen and oxygen in a vacuum chamber to create steam with no greenhouse gases or other pollutants.
Superior Boiler is a leading manufacturer of Scotch Marine Firetube boilers, industrial watertube, and high-efficiency boilers and equipment. It has shipped more than 21,000 boilers throughout the United States and worldwide.
"Superior Boiler is among the most respected and trusted manufacturers of boilers and thermal equipment globally," Jericho Chief Executive Officer Brian Williamson said. "They share our deep commitment to safety, quality, and the environment . . . Superior's Kansas manufacturing hub, located in the heart of the nation, is ideally positioned for efficient delivery of the DCC™ throughout all lower 48 states and beyond."
The DCC™ boiler's only by-product is water, which can be recycled. It's meant to replace existing boilers burning coal, natural gas, diesel, or fuel oil.
An 'Opportunity'
One analyst views the stock as an "opportunity," as it was down to CA$0.22 on Monday after hitting CA$0.33 last summer.
"We view the pullback as a buying opportunity ahead of boiler sales orders," wrote Nicholas Cortellucci of Atrium Research. "We continue to elect to value the investment at cost given the lack of visibility and await a value-creation event (i.e., takeout). Our estimates and valuation remain unchanged."
"We view the pullback as a buying opportunity ahead of boiler sales orders," wrote Nicholas Cortellucci of Atrium Research.
Cortellucci rated the stock a Buy with a target price of CA$0.50 per share, which would be a 127% gain.
Hydrogen is the most abundant molecule in the universe, but it doesn't occur by itself naturally on Earth and must be separated from water or hydrocarbon carbons using electrolyzers.
Newsletter writer Clive Maund of CliveMaund.com wrote for Streetwise Reports that hydrogen "is a fuel of the future" and that Jericho is "moving with the times."
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