HOUSTON, March 7, 2022 /PRNewswire/ — 8 Rivers Capital, LLC has announced a 100 million US dollars investment by SK Group, as well as the creation of an 8 Rivers-SK joint venture to focus on decarbonizing key Korean and Asian markets. This investment establishes 8 Rivers as the world’s leading Net Zero solutions company for industrial decarbonization, delivering innovative solutions ready to deploy today that will help drive global decarbonization through 2050. It is one largest private investment in a carbon capture solutions provider. to date, and was announced at S&P Global’s CERA Week by IHS Markit

8 Rivers Capital: Mr. Damian Beauchamp, Mr. Bill Brown and Mr. Cam Hosie SK Inc. Documents: Mr. Young Wook Lee, Mr. Ki Seon Park and Ms. Eun Kyung Sung

SK’s investment will allow 8 Rivers to expand its world-class innovation and execution team and accelerate the deployment of 8 Rivers’ clean technologies at the pace and scale that customers and governments are now demanding. worldwide. As a leading South Korean industrial and high-tech conglomerate, SK’s technology and engineering capabilities will serve as a force multiplier for 8 Rivers, while SK will leverage the partnership to deploy clean projects for its domestic operations. and foreign.

The 8 Rivers-SK Asia joint venture will combine 8 Rivers’ technology with SK’s regional footprint to deploy clean hydrogen and zero-emissions energy projects in key energy hubs around the world. Asia Pacific region — a region that currently emits more carbon each year than the rest of the world combined, and that is central to the global economy and Net Zero goals.

“Decarbonizing the global economy is both a multi-trillion dollar business opportunity and, more importantly, an environmental and social necessity,” said the CEO of 8 Rivers. cam hosie. “I can’t think of a better partner than SK Group to accelerate the gigatonne-scale deployment of 8 Rivers’ clean and net-zero technologies, helping to drive economic and social development globally. »

8 Rivers is one of the world’s leading developers of innovative decarbonization technologies that span hydrogen, electricity, direct air capture and carbon removal from biomass, including the invention of 8HR2 clean hydrogen technology and the revolutionary Allam-Fetvedt cycle power generation system. 8 Rivers develops flagship zero-emission projects in the UK and the United States, with a strong pipeline of global insights.

“SK looks forward to accelerating the deployment of 8 Rivers technologies in the global energy market by combining SK’s domestic and overseas energy infrastructure, commercial capabilities, and SK’s clean technology and world-class project portfolio. 8 Rivers,” said Young Wook Lee, President of SK Inc. Materials, “and the launch of our Asian joint venture with 8 Rivers is a key initiative that cements SK’s position as an energy transition leader in the region.”

Further, Lee added that “SK is actively investing in environmentally friendly businesses to achieve a ‘zero carbon footprint’ and SK is looking forward to reducing 200 million tons of CO2 by 2030. This agreement with 8 Rivers is also aligned with SK’s goal for SK to be the leader in achieving Net Zero and also to lead the global carbon reduction business with 8 Rivers and their innovative carbon capture technology”

SK Group, the second largest conglomerate in South Korea with its largest companies primarily involved in energy industries, is committed to building sustainable clean energy value chains in Korean and Asian markets. As such, SK Group is a highly attractive strategic capital investor and partner for 8 Rivers’ cleantech portfolio.

In order to reach Net Zero by 2050, the production of renewable energy and green hydrogen is inevitable and must be part of a comprehensive “all of the above” approach with a wide range of technologies that take into account the investment efficiency, space for disbursement and supply stability, to make global decarbonization a reality.

Reflecting on the importance of the SK partnership, Bill Brownco-founder and executive chairman of 8 Rivers Capital, said, “Partnerships are valuable. At the simplest level, they’re about runtime compatibility, but more importantly, they’re about vision compatibility. Of all the potential investors who approached 8 Rivers over the past 15 years, SK was the first to fully share our vision of a comprehensive ESG system. To reach Net Zero, McKinsey estimated that the world must spend $25 billion per day for 30 years. No company today is suited to this scale. SK and 8 Rivers know and understand that we need a new business model that doesn’t trace its existence back to a single company today. Instead, this model will be a merger between silos, much like Amazon. Since the expansion of decarbonization technologies, including carbon capture, is imminent, 8 Rivers and SK are focusing on the energy system and customers, not just one technology. This combination is what will allow our two companies to create the first global net-zero company that will lead the global future of clean technology. »

ABOUT 8 RIVERS CAPITAL, LLC: 8 Rivers Capital, LLC is a Durham, North Carolinafounded in 2008, which leads the invention and commercialization of sustainable infrastructure-scale technologies for the global energy transition as the premier net-zero solutions company for industrial decarbonization. 8 Rivers develops and deploys technologies for Clean Hydrogen and Ammonia (8RH2), Transformative Zero Emissions Energy Cycles (Allam-Fetvedt Cycle), Direct Air Capture (Calcite), Retrofit Carbon Capture (Carbon8), acid gas sweetening (TarT), ethylene (Codox) and other advanced clean energy systems. www.8Rivers.com.

ABOUT SK GROUP: Situated at Seoul, South Korea, SK Group is a collection of diverse multinational manufacturing and service companies united under a holding company structure that share a common SK brand and corporate culture. SK Group companies are world leaders in semiconductors, telecommunications, energy and life sciences. In all of its businesses, SK is committed to building environmentally responsible businesses that help reduce global greenhouse gas emissions and increase the use of renewable energy. SK Group is a founding member of the Value Balancing Alliance. The combined SK companies have $106 billion annual global revenue and more than 100,000 employees worldwide. www.sk.com

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SOURCE 8 Rivers Capital, LLC