SK Inc. increases its US investments to expand the CCUS business

SK Inc. increases its US investments to expand the CCUS business

8 Rivers is an innovative clean energy technology company with supercritical CO2 power generation and blue hydrogen production technologies

  • By ICN Bureau | March 13, 2023

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.

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