JX Nippon, 8 Rivers Capital partner to decarbonise hydrogen and power sectors
The partnership will help 8 Rivers to scale its clean energy business across the globe.
JX Nippon Oil & Gas Exploration Corporation, JX Nippon Oil Exploration (USA) Limited and 8 Rivers Capital, LLC have agreed to accelerate the decarbonisation of power and hydrogen generation globally.
JX has established proven track records in several CCUS projects, such as a CO2 injection pilot test in Vietnam and the Petra Nova CCUS Project utilising CO2 captured from a thermal power plant in Texas, US.
8 Rivers was the inventor of the zero-carbon power generation system being commercialised by NET Power, LLC. It is also the developer of clean hydrogen and ammonia technology, 8RH2, and a suite of industrial decarbonisation technologies, including the TarT sour-gas treatment system and net-zero solutions for steel production, direct air capture, and point-source carbon capture.
The partnership will also support 8 Rivers to accelerate the scaling of its clean energy business globally, leveraging JX’s global footprint, expertise and decarbonisation goals to accelerate the deployment of zero-emissions power and hydrogen.
Cam Hosie, CEO of 8 Rivers, said, “This global collaboration with a market-leading energy firm leveraging cutting-edge decarbonisation technologies will help enable gigaton-scale carbon reductions.”
Hiroshi Hosoi, CEO of JX, added, “JX is delighted to engage with 8 Rivers on decarbonisation, underpinning JX’s conviction that CCUS will play a vital role in the realisation of carbon neutrality.”