8 Rivers Capital, JX Nippon Oil & Gas Exploration Corporation (“JX”) and JX Nippon Oil Exploration (U.S.A.) Limited (“NOEX USA”) have joined forces to decarbonize hydrogen generation globally.
Both are world-leaders in carbon capture, utilization and storage (CCUS) and the collaboration holds promise for the effective decarbonization of the hydrogen sector.
JX has successfully worked on several CCUS projects, including the Petra Nova CCUS Project that uses CO2 captured from a thermal power plant in Texas and a carbon injection pilot test in Vietnam.
JX has a proven track record of running safe and stable energy operations in Asia.
But in addition to that, the oil and gas giant has been growing its sustainable energy business in leaps and bounds.
8 Rivers Capital, on the other hand, has been among those spearheading the global energy transition for over 10 years now. The company is behind the game-changing zero-carbon generation system that today is commercialized by NET Power LLC.
Moreover, 8 Rivers is the inventor of the best of its kind clean hydrogen and ammonia technology known as 8RH2, as well as a range of industrial decarbonization technologies, including, among others, direct air capture and point-source carbon capture.
8 Rivers has also deployed a number of decarbonization projects around the world, including large-scale projects in the UK, US, Australia and Southeast Asia, all of which are expected to come into operation by 2025 and capture millions of metric tons of CO2 every year.
In a comment on the new partnership with JX, 8 Rivers CEO Cam Hosie described it to be a ‘major force multiplier for decarbonization’.
The collaboration would allow 8 Rivers to expand and scale its clean energy operations at an unprecedented pace thanks to JX’s unique expertise in decarbonization, which will inevitably bring everyone closer to meeting net-zero goals.