Jericho Energy Ventures Announces UnitBirwelco as Manufacturing Partner for Hydrogen Boiler

- JEV partners with specialty manufacturer to scale initial production 

- Partnership aims to facilitate company growth to fill demand for patented hydrogen boiler

TULSA, Okla. and VANCOUVER, British Columbia, March 23, 2021 (GLOBE NEWSWIRE) -- Jericho Energy Ventures (TSXV: JEV; Frankfurt: JLM0; OTC: JROOF) (“Jericho” or “JEV” or the “Company”) is pleased to announce its wholly owned subsidiary, (“HTI”), has an agreement in principle with Wales, UK-based to provide engineering support, procurement, manufacturing, and fabrication related to its cleanH2steam DCC™ boiler.

Founded in 1902, UnitBirwelco is an internationally recognized engineering, procurement, and construction management (“EPCm”) firm with specific expertise in thermal equipment including complex, high-temperature systems, projects, and capabilities operating primarily within the power, energy, oil & gas, pharmaceutical and chemical & petrochemical sectors.

“UnitBirwelco’s long-standing and respected expertise in manufacturing thermal equipment gave us great comfort in selecting them to produce our initial cleanH2steam DCC boilers. They have completed highly engineered and technically challenging projects around the world in many of the same industries HTI has focused on for its cleanH2steam DCC. With their commitment to safety, the highest standards of quality and the environment, our organizations share in the same underlying values,” Brian Williamson, CEO of JEV stated.

Cy Wilkinson, CEO of UnitBirwelco, stated, "After establishing a long-term strategy for sustainability and achieving carbon negative status, UnitBirwelco Limited are pleased to partner with Jericho Energy Ventures to provide the engineering support, procurement, manufacturing, and fabrication related to its cleanH2steam DCC™ boiler. UnitBirwelco’s experience in boilers, heat exchangers and thermal equipment fits perfectly with this project and this venture is the first step in our global collaboration. The innovative desire of Jericho in their acquisition of HTI shows leadership in the clean energy sector - we’re excited to be part of what we expect will be a long-lasting alliance."



HTI’s go-to-market strategy aims at decarbonizing the nearly $30bn Commercial & Industrial heating sectors and bringing on a manufacturing partner is the first step in successfully scaling up the business to meet the ever growing demand for our hydrogen-based boiler solution.



About Jericho Energy Ventures



Jericho Energy Ventures () is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems.



CONTACT:



Adam Rabiner

Director of IR

Jericho Energy Ventures

604.343.4534





This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Although Jericho believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information and statements which include, but are not limited to: the effects of and risks associated with the ongoing COVID-19 pandemic, the impact of general economic conditions, industry conditions and current and future commodity prices including sustained low oil prices, significant and ongoing stock market volatility, currency and interest rates, governmental regulation of the oil and gas industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities inherent in oil and gas exploration, development and production operations; and the other factors described in our public filings available at . Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.



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