By: ICN Bureau
Last updated : March 13, 2023 9:32 am
8 Rivers is an innovative clean energy technology company with supercritical CO2 power generation and blue hydrogen production technologies
SK Inc. materials is accelerating its clean energy business by expanding through its affiliates investment into 8 Rivers who own innovative CCUS (Carbon Capture, Storage, and Utilization) technology.
Lee Yong-wook, CEO, SK Inc. materialsnotes, "the board of SK Inc. approved on March 6th to form and fund US investment vehicles with a total capital contribution of $300 million into such vehicles for the purpose of making US clean tech investments, including additional nvestments into 8 Rivers."
Through this investment endeavor, SK Inc. materials plans to actively develop the CCUS- based clean energy business in the US and further strengthen the strategic partnership with 8 Rivers.
8 Rivers owns supercritical CO2 power generation technology that naturally captures CO2 using natural gas and coal as feedstock without any additional equipment and blue hydrogen generation technology utilizing a method that separates CO 2 by cooling it into a liquefied state.
"Although carbon reduction has become a global agenda, it is difficult to replace base-load power generation with renewable energy alone, and the method of capturing CO2 is still expensive. 8 Rivers, with its innovative technology, will contribute to the acceleration of carbon reduction by significantly improving cost competitiveness." said SK Inc. materials.