Monetizing Gas Africa (MGA) and US clean energy innovation firm 8 Rivers Capital, LLC (8 Rivers), have signed an initial agreement to collaborate on projects to deploy innovative clean technology in South Africa based on the 8 Rivers’ technology suite for providing clean, efficient, and low-cost carbon-free hydrogen, power, and fuels.
8 Rivers and MGA will investigate the possibility of decarbonizing South Africa’s LNG imports, in which the CO2 emitted by LNG is fully captured and disposed of, in order to assist South Africa in further mitigating its over-reliance on emitting coal-fired power and assisting the country in meeting its expected COP26 emissions reduction NDCs (Nationally Determined Commitments) while also alleviating its severe energy crisis. The process will begin with the parties assessing the viability, siting, and financing of a zero-emission LNG project, which is expected to begin early in 2022.
MGA and 8 Rivers both recognize the opportunity to deploy clean hydrogen, power, and fuels projects in light of the global energy transition and efforts to decarbonize the global energy sector, and are pleased to be able to collaborate on this critical goal. They also recognize that bringing decarbonized projects to Africa will serve as a critical vector for social and economic development in the region, assisting Africa in ‘leaping-frog’ into a low-emissions future.
Cam Hosie, Chief Executive of 8 Rivers Capital commented: “8 Rivers has been driving the energy transition for over a decade, developing best-in-class net zero solutions across sectors. We look forward to working closely with Monetizing Gas Africa to help South Africa and the broader region to utilize advanced technologies to cost effectively move to a low-carbon economy and a sustainable future.”
Rodney MacAlister, CEO of Monetizing Gas Africa. commented: “MGA is a South Africa born and bred energy project development company eager to assist the country with its Just Energy Transition in the cleanest of ways. 8 Rivers’ carbon-neutral technologies and development experience will enable South Africa to balance its generation supply dependability while ensuring zero carbon escapes into the atmosphere. We very much welcome this collaboration and look forward to jointly progressing major project developments.”
