JEV Portfolio Company H2U Technologies Announces Hydrogen Industry's First Commercial-Scale Non-Iridium PEM Electrolyzer

TULSA, OK and VANCOUVER, BC / ACCESSWIRE / June 27, 2023 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC: JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to report that its portfolio company, H2U Technologies ("H2U"), has announced the successful demonstration of the first non-iridium Proton Exchange Membrane (PEM) electrolyzer for commercial hydrogen production.

Today, all commercially available PEM electrolyzers rely on iridium catalysts to function. As the electrolyzer industry grows, global iridium scarcity poses a serious threat to scale-up. In its most recent Global Hydrogen Review publication, the International Energy Agency states, "If PEMs supplied all electrolyser production in 2030 in the Net Zero Emissions Scenario, demand for iridium would skyrocket to 63 kt, nine times current global production."

Foto: Accesswire

Cutaway of H2U Technologies' Non-Iridium Electrolyzer at its Chatsworth, California Headquarters

In connection with the in-house demonstration of its 200kW iridium-free electrolyzer system, the H2U team collected and continues to collect operational data to further validate the durability and performance of novel non-iridium catalysts at the commercial scale. H2U will apply those lessons learned to the design review and construction of their first external proof-of-concept units set to ship at the end of this year.

"This is a significant milestone for H2U on our path to solving a key problem facing the hydrogen industry: the dependency on scarce and precious materials currently needed to make hydrogen. We believe H2U's non-iridium PEM electrolyzers have the potential to transform the green hydrogen industry," said Mark McGough, CEO of H2U Technologies, adding that he expects H2U's breakthrough technology will bring down gas production costs and alleviate supply chain constraints, making green hydrogen more accessible and cost-effective for a wide range of applications.

"From a 200W benchtop, short stack to a 200kW full containerized system in less than eight months using catalysts never before seen in a PEM electrolyzer is a tremendous accomplishment. Now the world can see that there are easily integrated, direct-replacement electrocatalysts for the gigawatts of electrolyzers being planned across the world," noted David Martin, Chief Commercial Officer of H2U Technologies.