Jericho Energy Ventures' Hydrogen Technology Chosen by Leading U.S. University to Drive Sustainable District Energy

• Breakthrough Agreement Ushers in a New Era of Campus Heating Decarbonization

TULSA, OK and VANCOUVER, BC / ACCESSWIRE / August 3, 2023 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is delighted to announce that a prominent Western University has elected to adopt JEV's state-of-the-art, zero-emission DCC™ hydrogen-fueled steam boiler for deployment within the university's district heat system.

The DCC™ is a cutting-edge product developed by JEV's wholly owned subsidiary, Hydrogen Technologies ("HT").

This partnership is a major step forward in achieving sustainable heating and low-carbon energy solutions, positioning JEV and its district heating partner as pioneers in clean technology innovation. The utilization of DCC™ clean steam perfectly aligns with the commitment made by the U.S. and the global community to decarbonize district energy, including university campuses.

As of June 11, 2023, 1,173 universities and colleges, with approximately 11 million students, had pledged to reduce their emissions by 2030 and reach net-zero by 2050, at the latest. The institutions have signed the Race to Zero for Universities and Colleges which is a global campaign to rally leadership and action in the education sector.

Brian Williamson, CEO of JEV, expressed his enthusiasm: "Today marks a significant milestone in our mission to drive the energy transition towards a sustainable future. This partnership demonstrates the growing demand for innovative solutions in decarbonizing the US$198B global district heat industry.¹ By leveraging our zero-emission hydrogen boiler technology, we are proud to contribute to the University's commitment to carbon neutrality and set a precedent for other institutions seeking effective and eco-friendly heating solutions."

HT's DCC™ hydrogen-fueled boilers offer a highly efficient and sustainable alternative to conventional fossil fuel-based boilers. These boilers eliminate greenhouse gas emissions, providing a clean and eco-friendly source of steam for various industries and applications. Leveraging an exothermic reaction that combines pure hydrogen (H2) and pure oxygen (O2) gas, the DCC™ achieves an independently verified fuel efficiency of over 97%, with zero greenhouse gas emissions.² In December 2022, the DCC™ was awarded the Solar Impulse Foundation's prestigious "Solar Impulse Efficient Solution" label, recognizing profitable solutions to protect the environment.