#Hydrogen #Stock News: Foothills Exploration, Inc. (OTC: $FTXP) JV To
Develop #Drone-based Natural Hydrogen And #Helium Detection #Technology; @Foothills_FTXP
LOS ANGELES, July 19, 2021 ( Investorideas.com
newswire ) Breaking energy/cleantech stock news –New Energy Ventures, LLC (“NEV”), a wholly owned indirect subsidiary of Foothills
Exploration, Inc. (OTC: FTXP),
signed a binding letter of intent with Perspectum Drone Inspection Services Ltd. (“PDIS”), to create and
fund a new enterprise dedicated to developing and commercializing PDIS’s drone-based natural
hydrogen and helium detection technology.
Read this news, featuring FTXP in full
at https://www.investorideas.com/news/2021/energy/07191FTXP-Drone-Based-Hydrogen.asp
New Energy Ventures and
PDIS will collaborate to jointly develop the early stage technology further,
produce a working protype and refine the business model for commercialization.
“It is important that we all do our part to help reach an energy efficient low
carbon future. NEV plans to contribute to this mission by partnering with
talented entrepreneurial management teams to develop technologies that will
help protect our planet and reduce our carbon footprint,” said Tara Roberts CEO
of New Energy Ventures, LLC.
"Perspectum
is pleased and excited to collaborate with New Energy Ventures in the search
for naturally occurring, native hydrogen – the only realistic approach to a net
zero energy source. For the past two years, Perspectum has been developing drone-based/AI-driven,
multi-sensor arrays for methane detection in the oil and gas industry allowing
clients to meet the ever-increasing reporting and compliance requirements
focused on greenhouse gas emissions. Developing a drone-based detection system
to identify natural hydrogen emanations is a logical progression for our
Company," said Ty Pfeifer, CEO of Perspectum. "We obviously want to
be on the leading edge of this rapidly growing trend and the synergies of the
partners in this collaboration create a strong organization," continued
Pfeifer.
About Hydrogen
Hydrogen, the most abundant element on Earth, has become a
key component of the global energy transition to zero-carbon energy and
provides numerous opportunities for attractive financial returns. Hydrogen is
also gaining unprecedented economic and political momentum globally as an
alternative net-zero energy vector and a complement to the ‘electrify
everything’ movement. Bank of America forecasts that the hydrogen industry is
at a tipping point and headed to $11 trillion, with hydrogen production
projected to see a 5000% increase by 2026.
Global demand for clean and green energy continues to increase rapidly,
coupled with the need to optimize production, and minimize greenhouse gas
emissions. Energy companies will increasingly need to embrace the concept of
clean tech by focusing on both the tools and processes to solve such
challenges. The field of natural (or native) hydrogen exploration has recently
emerged on the international stage as a potentially viable alternative
production method with costs projected to be significantly lower than steam
methane reforming (“grey hydrogen”) and electrolysis using renewable energy
(“green hydrogen”).
About Helium
Helium is the second-most abundant element on Earth but
finding helium is incredibly challenging. Almost every known helium reserve was
discovered by accident, and the helium produced was merely a byproduct of
natural gas exploration and production.
The United States has been the largest producer of helium since 1925,
but production has slowed causing a shortage and driving up the cost of helium
significantly. Recent prices for
bulk helium reached $280/mcf and the current global market for bulk helium is
estimated at USD $2.7 billion. Helium’s
unique physical and chemical characteristic makes it a high-value,
non-renewable commodity with numerous applications in critical fields of
industry and technology. NEV plans to explore for new helium reserves
utilizing its drone technology to assist in the effort to mitigate the global
shortage.
About Foothills Exploration, Inc.
Foothills Exploration, Inc. (“FTXP” or the “Company”), is an
oil and gas exploration and development company focused on delivering the
energy needs of today and tomorrow. The Company’s strategy is to build a
balanced portfolio of assets through two core initiatives. The first initiative
is to generate high-impact oil and gas exploration projects. The second is to
invest in hydrogen and geothermal projects for a low carbon future through its
New Energy Ventures division by identifying areas where the Company can
contribute to a viable, realistic, and balanced future energy mix. For additional information
please visit the Company’s website at www.foothillspetro.com.
About Perspectum Drone Inspection Services Ltd.
Perspectum
Drone Inspection Services, Ltd. (“PDIS”) is a Canadian company based in
Calgary, Alberta. PDIS’ novel drone platform integrates AI with high resolution
flight video, optical gas imaging cameras and leading-edge software to provide
clients with superior post flight presentation, reporting and data storage.
Forward-Looking Statements
All statements, other than statements
of historical facts, included in this release that address activities, events
or developments that we expect, believe or anticipate will or may occur in the
future are forward-looking statements. These statements are based on certain
assumptions we made based on management's experience, perception of historical
trends and technical analyses, current conditions, capital plans, drilling
plans, production expectations, our ability to raise adequate additional
capital, or enter into other financing arrangements to support our acquisition,
development and drilling activities, anticipated future developments, and other
factors believed to be appropriate and reasonable by management. When used in
this release, words such as "will," “possible,”
"potential," "believe," "estimate,"
"intend," "expect," "may," "should,"
"anticipate," "could," "plan,"
"predict," "project," "profile,"
"model," "strategy," "future" or their negatives
or the statements that include these words or other words that convey the
uncertainty of future events or outcomes, are intended to identify
forward-looking statements, although not all forward-looking statements contain
such identifying words. In particular, statements, express or implied,
concerning our future operating results and returns or our ability to acquire
or develop proven or probable reserves, our ability to replace or increase
reserves, increase production, or generate income or cash flows are
forward-looking statements.
Forward-looking statements are not
guarantees of performance. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond our control.
While forward-looking statements are based on assumptions and analyses made by
us that we believe to be reasonable under the circumstances, whether actual
results and developments will meet our expectations and predictions depend on a
number of risks and uncertainties which could cause our actual results,
performance, and financial condition to differ materially from our
expectations. As a result, no assurance can be given that these assumptions are
accurate or that any of these expectations will be achieved (in full or at all)
or will prove to have been correct. We have had sporadic and limited revenue
and our securities are subject to considerable risk. Investors are cautioned to
review FTXP’s filings with the Securities and Exchange Commission for a
discussion of risk and other factors that affect our business. Any
forward-looking statement made by us in this news release speaks only as of the
date on which it is made. Factors or events that could cause our actual results
to differ may emerge from time to time, and it is not possible for us to
predict all of them. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information, future
development or otherwise, except as may be required by law. The
Company intends that all forward-looking statements be subject to the
safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investor Contact
Christopher
Jarvis
EVP
of Finance
(800)
204-5510
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