Jul 22, 2021 (Baystreet.ca via COMTEX) -- Thursday, July 22, 2021
9:26 AM EST - Jericho Energy Ventures : Announced it has led a Series A financing for H2U Technologies, Inc., a Company focused on developing its proprietary ultrahigh throughput, AI-driven, electrocatalyst discovery process for electrolyser and fuel cell applications. Jericho's USD$1.5 million Co-Lead investment is joined by Dolby Family Ventures, Hess Corporation /zigman2/quotes/203832174/composite HES +1.29% and Motus Ventures - with a total Series A raise of approximately USD$7 million. Each of the Co-Leads, including Jericho, will have board representation. The Board of H2U will also be joined by independent director, Tom Werner, former CEO (2003-2021) and current Chairman of SunPower /zigman2/quotes/200243424/composite SPWR -1.18% . H2U intends to use this funding to support the start-up and development of its proprietary electrocatalyst discovery process and machinery. H2U will also develop its own PEM electrolyser technology utilizing its proprietary catalysts, breakthrough sub-component innovations and manufacturing processes. Jericho Energy Ventures ( V.JEV ) shares were unchanged at 0.78.
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