DURHAM, N.C. and TOKYO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- 8 Rivers Capital, LLC (8 Rivers), a world-leading net zero solutions provider, and JX Nippon Oil & Gas Exploration Corporation (Toshiya Nakahara, President and CEO), JX Nippon Oil Exploration (U.S.A.) Limited (Manabu Doi, President) (collectively “JX”), have signed a memorandum of understanding (MOU) to evaluate the U.S. Gulf Coast for the commercial-scale deployment of 8 Rivers technologies across ammonia and other net-zero projects, including potential projects using CO2-rich natural gas. This builds on the existing efforts by JX and 8 Rivers under the Comprehensive Collaboration Agreement signed in November, 2021, working together, to identify and develop unique opportunities in the carbon capture market.
As part of their new initiative, JX and 8 Rivers intend to develop a CO2-rich gas calibration program, aiming to economically utilize previously unusable fuel to produce clean energy while sequestering all the CO2, leveraging 8 Rivers’ technological expertise. This program is only one example of how 8 Rivers and JX will work together to deploy technologies that enable the world to meet crucial climate targets.
“As a net-zero solutions provider enabling the world’s largest companies to meet their carbon reduction goals, this continued collaboration with JX shows how significant 8 Rivers’ scalable, deployable technologies are to meeting global climate goals,” said Damian Beauchamp, President and Chief Development Officer of 8 Rivers. “The methane program is only one example of our firms coming together to economically and cleanly address CO₂.”
Tetsuo Yamada, Executive Vice President, commented “This MOU reaffirms our collaboration partnership and commitments towards carbon neutral society. JX strongly believes this joint business development and research activities with 8 Rivers plays important role to accelerate our energy transition journey.”
In a continuation of the comprehensive collaboration agreement between the entities, this latest MOU is the next step in JX deploying 8 Rivers’ technology across projects that decarbonize power and hydrogen generation globally.
ABOUT 8 RIVERS CAPITAL, LLC: 8 Rivers Capital, LLC, is a Durham, NC-based firm leading the invention and commercialization of sustainable, infrastructure-scale technologies for the global energy transition. www.8Rivers.com.
About JX Nippon Oil & Gas Exploration Corporation: JX Nippon Oil & Gas Exploration Corporation have engaged in energy exploration and production (E&P) business around the world for over 40 years, as a core operating company in the ENEOS Group, one of Japan's leading company groups of comprehensive energy, natural resources, and materials. JX have been continuously carrying out safe and stable operations in Malaysia, Vietnam, and Japan, as operator for many years. JX will continue to tackle the challenge of achieving a stable energy supply and a sustainable society. https://www.nex.jx-group.co.jp/english/.
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