Major Companies are Teaming to Bring Clean Hydrogen to the M...| MENAFN.COM

Saturday, 28 May 2022 06:38 GMT

Major Companies are Teaming to Bring Clean Hydrogen to the Masses


(MENAFN- Baystreet.ca) There's a substantial amount of support for clean hydrogen. Not only are several countries on board, the the Clean Hydrogen Future Coalition just announced its support for federal clean hydrogen policies that promote clean hydrogen. Some of the companies involved with hydrogen include Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF), Chevron Corp. (NYSE:CVX), General Electric (NYSE:GE), Duke Energy Corp. (NYSE:DUK), and Siemens Energy (OTC:SMNEY).

The Coalition stated, "Clean hydrogen has the ability to accelerate decarbonization across all sectors of our economy, as well as transition existing - and create new - skilled, high wage jobs needed to support the clean energy transition. In addition to the wide range of market applications and potential for significant future demand, clean hydrogen can be produced from a variety of energy sources, used as a replacement fuel or feedstock in several industries, store energy over long periods of time, as well as move and deliver energy to where it is needed, making it a highly versatile, clean energy resource."

The Coalition's recent letter, backed by over 20 leading energy companies, labor unions, utilities, NGOs, equipment suppliers, and project developers, to President Biden called on his administration to catalyze the clean hydrogen industry in his "Build Back Better" plan.

Look at Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF) for example

Jericho Energy Ventures just announced the Plumbers & Steamfitters Local 442, based out of Modesto, California, are excited to see their collaboration with JEV's wholly owned subsidiary, Hydrogen Technologies Inc (HTI) enter its next phase of commercialization.

The Local 442 is located within the San Joaquin Valley Air Pollution Control District ("APCD"), one of the most progressive and stringent APCD's in California providing a national framework for reducing greenhouse gas emissions. Understanding the strict environmental controls of their APCD, the Local 442 was active in assisting HTI's founder, Ed Stockton, throughout initial building and testing of the cleanH2steam DCCTM commercial demonstration boiler, located at the Local 442 in Modesto, California.

The demonstration unit was supported by various groups and unions providing both materials and labor support including the International Brotherhood of Electrical Workers ("IBEW"). In conjunction with HTI, the demonstration unit was a successful first commercial step and continues to serve as foundational collaboration between clean energy providers like HTI and the Unions who largely install the units around the United States.

Bill Taylor, President of the Local 442, stated, "It has truly been a pleasure to work with Ed Stockton and the HTI team during the testing and evolution of the clean H2steam DCCTM Boiler. For us, this appeared to be the door to the future in creating clean steam and energy as we move away from emitting fossil fuels and we needed to be part of that. When Ed approached me, it was apparent that his patented technology would be a natural fit for us, creating hundreds if not thousands of jobs for our highly skilled and trained workforce. We are looking forward to a long and rewarding relationship as we enter this next phase where we will be playing an active role in the building and installation of new cleanH2steam DCCTM Boiler systems."

Other related developments from around the markets include:

Chevron Corp. announced plans to increase return on capital employed and lower carbon intensity to enable superior distributions to shareholders. "Chevron's message to investors is summarized in four words - higher returns, lower carbon," said Michael Wirth, Chevron's chairman and CEO. "We're building on our track record of capital and cost discipline to deliver higher returns. And we're taking action to advance a lower carbon future."

General Electric Renewable Energy announced its plan to recruit 300 employees at its LM Wind Power wind turbine blade manufacturing site in Cherbourg, France, in 2021. Every new hire will go through an intensive training program at the factory's ‘Center of Excellence' to learn wind turbine blade manufacturing processes. The expanded production workforce will allow LM Wind Power to meet the growing industry demand for offshore wind equipment.

Duke Energy Corp. announced a major step to help large businesses and municipalities with all the planning, financing, acquisition and deployment services to electrify their fleets . The company, eTransEnergy LLC, a new, wholly owned subsidiary, will provide unregulated services to assist school districts, transit services and companies across the country achieve their economic and sustainability goals as they transition to clean energy transportation options. Commercial fleets looking for reduced emissions, less noise, better performance and lower operating costs now have one comprehensive source for transitioning their fleets to EVs (electric vehicles), from start to finish.  

Siemens Energy and Air Liquide have signed a Memorandum of Understanding with the objective to combine their expertise in PEM (Proton Exchange Membrane) electrolysis technology. They intend to focus their activities on these key areas: co-creation of large industrial-scale hydrogen projects in collaboration with customers, laying the ground for mass manufacturing of electrolyzers in Europe, especially in Germany and France, and R & D activities to co-develop next generation electrolyzer technologies. Hydrogen will play an essential role to achieve the European Union's objectives for CO2 and greenhouse gas emission reduction.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Jericho Energy Ventures by Jericho Energy Ventures. We own ZERO shares of Jericho Energy Ventures. Please click here for full disclaimer.

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