Consortium embarks on AUD 1.5million (GBP 800,000) project that will demonstrate that renewable methanol costs can be reduced by up to 20% with ultra-high efficiency, high pressure green hydrogen production
The partnership aims to commercialize the concept and drive commercial world scale systems to market by 2030, enabling a potential multibillion dollar global methanol opportunity
The project brings together game-changing innovation in electrolysis from the UK and a burgeoning market opportunity for renewable methanol in Australia.
The first phase will deliver a comprehensive techno-economic feasibility study evaluating the integration of high-pressure hydrogen from Supercritical's electrolyzers into HAMR's hybrid methanol plant design. The project will include empirical testing of Supercritical's advanced catalysts and a full lifecycle analysis evaluating the environmental impact of the electrolyzers' novel membraneless design. The pioneering consortium will de-risk the concept for progression to pilot stage, with deployment of Supercritical's technology in Australia as part of a renewable methanol production facility from 2026.
With potential to reduce the cost of renewable methanol by up to 20% relative to incumbent electrolysis technologies, Supercritical's technology offers a world-class system efficiency of 42 kWh/kgH2 (95% HHV) whilst delivering hydrogen over 200 bar. The delivery significantly simplifies compression and storage infrastructure for methanol facilities offering a transformative advantage in capital and operational expenditures.
Matt Bird, CEO & Co-founder of Supercritical, commented: "At Supercritical, we are not just engineering electrolyzers; we are crafting the keystones for the next generation of clean energy infrastructure. Our collaboration with HAMR Energy signifies a leap towards making zero-emission renewable fuels a mainstream reality. This venture underpins our commitment to innovation and our belief that the right technology can indeed turn the tide on global energy challenges."
Methanol is used as a feedstock for products from plastics to fuels and to achieve net zero, these markets must trend to renewable methanol. According to the International Energy Agency, the methanol industry is the third largest user of hydrogen today.
The vast potential of renewable methanol as a substitute for heavy fuel oil is recognized through the growing commitment within the shipping industry, led by stakeholders like Maersk and supported by the International Maritime Organization's net-zero ambitions to reduce global GHG emissions.
Jericho Energy Ventures holds a seat on Supercritical's Board of Directors and is a significant shareholder, having led Supercritical's 2022 USD$3.6 million Seed Series funding round alongside Chris Sacca's Lowercarbon Capital and New Energy Technology.
About Supercritical
Supercritical is at the forefront of the clean energy revolution, with a mission to dramatically reduce the cost of green hydrogen and address the most challenging 20% of global emissions. Established in 2020 in London, our vision is to catalyze a sustainable future where renewable energy solutions, like our pioneering electrolyzer technology, are mainstream and financially viable without subsidies. As the creators of the world's first high-pressure, ultra-efficient electrolyzer, we deliver hydrogen and oxygen at pressures exceeding 220 bar, achieving full system efficiencies up to 42kWh/kgH2 with 99% purity. Our innovative approach not only curtails operational costs but also surmounts formidable industry challenges, forging a path towards a zero-emission future. By offering scalable, PFAS-free, membrane-free, and iridium-free solutions, Supercritical aims to lower hydrogen production costs to under ￡1/kgH2 within this decade, driving the shift from grey to green energy across industries.
Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyzer platform) and Supercritical Solutions (developing the world's first, high pressure, ultra-efficient electrolyzer). Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
CONTACT: Allen Wilson, Director, or Adam Rabiner, Investor Relations Jericho Energy Ventures Inc. Tel: +1.604.343.4534 Email: [email protected]
This news release contains certain "forward-looking information" and "forward-looking ?statements" (collectively, "forward-looking statements") within the meaning of applicable ?securities laws. Such 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. Forward-looking statements are frequently characterized by words such as ??"plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, ?or statements that certain events or conditions "may", "will" or "may not" occur.? Specifically, this ?news release contains forward-looking statements relating to, among others, the successful techno-economic feasibility study evaluating the integration of high-pressure hydrogen from Supercritical's electrolyzers into HAMR's hybrid methanol plant design.
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