SK Group has invested $100 million in 8 Rivers Capital to focus on decarbonization and zero-emissions projects in Asia-Pacific. CERAWeek was the venue for the announcement.
8 Rivers, situated in North Carolina, develops carbon-neutral technologies such as hydrogen, carbon capture, and biomass carbon removal. It co-owns NET Power, whose systems utilize natural gas to power a supercritical CO2 cycle. The method is unusual in that it recycles the majority of the carbon dioxide produced and catches the remainder, emitted into the atmosphere virtually nothing. According to NET Power, their facilities should be no more expensive to build and operate than a conventional natural gas plant.
Global targets for net-zero carbon emissions and an increasing demand for CO2 that may be sequestered or used in industrial processes are fostering the development of favorable market conditions for the adoption of clean and dependable energy generation. NET Power said that it would license its technology to global customers interested in decarbonizing the energy and industrial sectors.
