JEV:CC - Who are the Most Incredible Energy Innovators?
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ValueTheMarkets.com News Commentary: All sectorsrequire innovation but, with major pressure for businesses todecarbonize their operations and embrace the green transition, theenergy space is a hotbed for new thinking. Some key innovators in thebroader energy space are Shell PLC ( NYSE:SHEL ) , Chevron Corporation ( NYSE:CVX ) , Nextera Energy Inc ( NYSE:NEE ) and Jericho Energy Ventures Inc ( TSXV:JEV ) ( OTC:JROOF ) .
This innovation can come in a huge variety ofdifferent forms. Shell PLC is looking to modernize by embracing Web 3and blockchain, expressing an openness to allowing this emerging techto transform its operations. Meanwhile, Chevron heavily backs carboncapture technology as a way to help out in the fight towards net zero.NextEra Energy is incorporating a broad variety of renewables in itsown innovation journey, from solar and wind through to hydrogen.
A business with a hugefocus on hydrogen is Jericho Energy Ventures Inc ( TSXV:JEV ) ( OTC:JROOF ) . This energy innovator has a portfolio ofdisruptive hydrogen inventions, key among them being its patentedzero-emissions DCC™ hydrogen boilers, which target the massivecommercial and industrial market. This solution allows these customersto eliminate greenhouse gas emissions, offering a clean andeco-friendly source of steam for even hard-to-abate industries. Thesmall-cap company is attracting attention from big players, havingjust announced a collaboration with a globally leading alcoholbusiness to conduct a decarbonization study on implementation of itsDCC™ boilers. The study will cover production facilities in fourcountries, allowing Jericho to demonstrate the viability of one of itsinnovative solutions to a global player. Proof of concept here couldlead to some major customer wins for the company! This potential mightbe why some analysts are already brandingthis stock a BUY .
Oil major Shell PLC ( NYSE:SHEL ) is no stranger to energy innovation either.Like Jericho, it’s investing heavily in hydrogen, having allotted$1bn for hydrogen and carbon capture and storage projects in 2024 and2025. Additionally, it has turned to blockchain and other Web 3technologies in order to modernize and increase the efficiency of itsoperations. For example, together with several other firms, thecompany launched a book-and-claim solution called Avelia which aims to help scale supply ofsustainable aviation fuel. Furthermore, the business has invested in Web 3 energy start-up LO3, which aims tohelp consumers and businesses to find locally produced energy. Why isthe company so focused on using emerging tech like blockchain toenhance its operations? It argues that these advancements allow it to“reimagine current processes, deliver cost savings, increaseefficiencies and drive standardization across our processes and,indeed, across the entire energy industry”.
Another major oil andgas player is innovating too. Chevron Corporation ( NYSE:CVX ) , which is the second biggest oil company inthe US by revenue, has been turning its efforts towards hydrogenenergy and carbon capture. It even has a partnership with the USDepartment of Energy to explore renewable methods of sustainablehydrogen generation. Additionally, May 2022 saw the company announcing a carbon capture and storage project aimed atreducing the carbon intensity of its operations in San Joaquin Valley,California. Its interest in carbon capture has seen the business lookbeyond the mitigation of its own operations for new opportunities toimplement these practices. For example, it has teamed up with a numberof industry partners to help form the Houston CCS Alliance, which aimsto annually capture and store up to 100 million metric tonnes ofcarbon dioxide from industrial facilities by the year 2040.
NextEra Energy Inc( NYSE:NEE ) is a business with the mission statement of providingcustomers with green American energy. It’s one of the largest USsustainable energy companies and has pushed boundaries in a number ofdifferent ways. For example, one of the business’s latest majorannouncements has seen it enter an agreement for an Oklahoma-based project aiming todecarbonize the agriculture supply chain. The zero-carbon-intensityhydrogen project is intended to produce up to 100,000 tons per year ofzero-carbon green ammonia, an essential ingredient in the agriculturalfertilizers produced by project partner Verdigris. But the company’spenchant for innovation doesn’t stop there, with NextEra combining aslew of sustainable technology in its offering , including wind and solar generation, batterystorage technology, emissions-free nuclear power and transmissionlines.
Innovation spurs progressacross the industry. Major oil and gas firms Shell and Chevron havebeen around for decades but face pressure to keep their technologyfresh and embrace the green transition. Meanwhile, green-focusedcompanies like NextEra have become a key fixture in the energylandscape but must continually change or risk losing market share.Exciting and inventive innovation comes from small-cap outfits likeJericho, which could have their hands on truly world-alteringtechnology.
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