JEV Accelerates Its Modular Data Center Initiative with Full Momentum
TULSA, OK / ACCESS Newswire / April 9, 2025 / Further to its news release dated March 31, 2025, Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce that it has partnered with AT&T to install a minimum of 10Gbps of fiber optic at its initial Modular High Performance AI Data Center site in Oklahoma. This deployment leverages the latest technology and data transfer protocols and is designed to scale beyond 100Gbps to meet anticipated demand growth.
On March 31, 2025, JEV unveiled its innovative Modular Data center venture, harnessing its natural gas assets and infrastructure to drive the development of advanced, technology-driven, AI-focused computing solutions tailored for the AI era.
Brian Williamson, CEO of Jericho Energy Ventures, commented: "We are moving full steam ahead in building out our AI modular data centers, and partnering with industry-leader AT&T along with others to deploy high-speed fiber connectivity on-site is a critical step in developing a next-generation modular AI computing infrastructure. By leveraging our natural gas assets and strategic locations, we are uniquely positioned to provide scalable, reliable, and cost-effective power solutions to meet the growing demands of the AI age."
A March 30, 2025, Wall Street Journal article, "The AI Data-Center Boom Is Coming to America's Heartland," highlights how Meta and other tech giants are scouring rural America for land, transmission lines and natural gas to power AI operations, drawing them into the heart of the nation's oil and gas region.
Jericho also announces that it has granted 1,000,000 incentive stock options (the "Options") under its stock option plan (the "Plan") to McKenna & Associates, a boutique advisory and investment firm and a 10% security holder of JEV. The firm's principal is Andrew J. McKenna. The Options are exercisable at a price of C$0.20 for a period of up to 3 years.
Expressing McKenna & Associates' continued support for JEV, Brian Schafer, President, stated: "Jericho's launch of its natural gas-powered modular AI data center in Oklahoma is a smart, forward-thinking response to rising U.S. data storage demand. It reflects bold vision and strong execution to merge resilient and deployable data centers that capitalize on the plethora of small natural gas repositories across America's heartland. I have full confidence in the management team and their strategy, and I remain fully committed to supporting Jericho's next growth phase -- including exploring a U.S. listing -- as the Company works to deliver greater shareholder value at this pivotal stage."
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. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis.
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.
