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MoU signed to evaluate net-zero initiatives in Gulf Coast

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8 Rivers Capital and JX Nippon Oil and Gas Exploration Corporation have signed a new memorandum of understanding (MoU).
This is to evaluate the US 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 last year 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 programme, aiming to economically utilise previously unusable fuel to produce clean energy while sequestering all the CO2.
“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 programme 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.”