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Jericho Energy Ventures Unveils Innovative Modular Data Center Initiative, Transforming Natural Gas Assets into AI Powerhouses
Jericho Energy Ventures Unveils Innovative Modular Data Center Initiative, Transforming Natural Gas Assets into AI Powerhouses
Company well positioned to capitalize on Trump administration's pro-energy regulatory landscape
TULSA, OK AND VANCOUVER, BC / ACCESS Newswire / March 31, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce the launch of its innovative Modular Data Center venture, utilizing natural gas assets and infrastructure as the foundation for the development of advanced, technology-driven AI computing solutions for the AI era.
JEV's management believes the Company is ideally positioned to capitalize on the Trump administration's pro-energy and pro-development regulatory landscape by leveraging its strategic partnerships, robust infrastructure, prime acreage in Oklahoma's storied energy corridor, and abundant availability of cost-effective natural gas to power data centers.
Jericho's Modular Data Center business will be overseen from its Tulsa, Oklahoma regional office, where the Company's oil and gas joint venture currently owns and operates approximately 40,000 acres of productive land.
By converting its natural gas into long-term reliable on-site power, JEV intends to offer secure, modular, latest and next-generation computing infrastructure tailored for AI applications - enhancing efficiency, reducing waste, and strengthening energy resilience.
In conjunction with this initiative, Jericho will renew its focus on maximizing and developing its traditional energy assets to drive significant production growth.
Brian Williamson, CEO of Jericho, stated: "We are taking a page from the playbook of our industry leaders, utilizing our natural gas and infrastructure as a means to fuel modular AI computing solutions. We believe this unlocks a transformative growth opportunity. By aligning our energy resources with the booming demand for modular AI computing infrastructure, we aim to boost revenue and elevate shareholder value through an innovative, sustainable approach."
"In addition to utilizing natural gas assets to power our modular AI centers, we will work with our local utilities and cooperatives to provide redundant cost-effective power solutions to ensure high availability. We also see the pathway where we can leverage our energy transition assets, offering customers a lower-carbon hydrogen fuel solution for their AI compute."
A McKinsey & Company report from October 24, 2024, stated that demand for AI-ready data centers offers many opportunities for companies and investors across the value chain, and projects that global data center demand could grow 19-22% annually from 2023 to 2030, reaching 171-219 gigawatts (GW). In a less likely scenario, demand could surge 27% to 298 GW-far exceeding today's 60 GW. To prevent a supply shortfall, double the capacity built since 2000 would need to be constructed in under a quarter of the time.
Global investment in U.S. data centers is surging. On January 7, 2025, Dubai-based DAMAC Properties announced plans to invest an initial $20 billion into data centers tailored for AI and cloud computing, with the first phase of the project planned to take place in Oklahoma, Texas, Louisiana, Ohio, Illinois, and Indiana.
About Jericho Energy Ventures
Jericho is an energy company positioned to meet today's energy demand as well as the energy transition; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Jericho 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. Through its wholly owned subsidiary, Hydrogen Technologies, Jericho delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. Etna Solutions, Inc., majority owned by JEV, is developing a patent-pending, high-temperature, low-cost alkaline-based electrolyzer system. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis.
Website: www.jerichoenergyventures.com
X: https://x.com/JerichoEV
LinkedIn: www.linkedin.com/company/jericho-energy-ventures
YouTube: www.youtube.com/c/JerichoEnergyVentures
CONTACT:
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
Tel. 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 completion of its new Modular Data Centers initiative launch and successful supplier and customer adoption.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho's public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company's (or its subsidiaries') technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Jericho Energy Ventures Inc.
View the original press release on ACCESS Newswire
D.Fraser--SMC
