Hydrogen will be a key aspect of this new agreement and will help progress the Asian-Pacific hydrogen value chain whilst also expanding 8 Rivers’ potential market in the region.
The basis of this partnership will be a $100m investment from SK Group in order to support the establishment of a joint venture and accelerate the global decarbonisation efforts using hydrogen.
Read more: 8 Rivers, Rimrock Energy sign MoU to deploy hydrogen technologies across the US
Read more: Johnson Matthey, 8 River Capital partner to bring an innovative integrated hydrogen production solution
SK’s technological 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 and foreign operations.
Cam Hosie, CEO of 8 Rivers, said, “Decarbonising the global economy is both a multi-trillion-dollar business opportunity and, more importantly, an environmental and social necessity.
“I can imagine no better partner than the SK Group to accelerate gigaton-scale deployment of 8 Rivers’ clean, net-zero technologies, helping drive economic and social development globally.”
Young Wook Lee, President of SK Materials, said, “SK looks forward to accelerating the deployment of 8 Rivers’ technologies across the global energy market by combining SK’s domestic and foreign energy infrastructure, business capabilities, and 8 Rivers’ world-class portfolio of clean technologies and projects.
“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.
“SK is actively investing in eco-friendly business to achieve a ‘Zero Carbon Footprint,’ and SK is looking forward in order to reduce 200 million tons of CO2 through 2030.
“This deal with 8 Rivers is also aligned with SK’s goal for SK to be the leader in accomplishing Net Zero and to also lead the global carbon reduction business with 8 Rivers and their innovative carbon capture technology.”
North American Hydrogen Summit
H2 View is taking its events platform to America’s original clean hydrogen hub of California. Together with the California Fuel Cell Partnership (CaFCP), we will stage our North American Hydrogen Summit in San Francisco on July 14-15.
As our summit theme Building Bridges: Hydrogen hubs and investment suggests, the event will explore the $8bn of funding announced to create at least four regional hydrogen hubs in the US. These hubs will turbo-charge the nation’s progress toward heavy trucking and industrial sectors that run without producing carbon pollution – and they may just provide the path forward to a hydrogen-fuelled future.
With California and Texas vying to be America’s hydrogen capital today, where are the hubs of tomorrow? Further still, what can other states, and countries, learn from California’s success story? And how can we build bridges to a successful flow of international investment?
Full information about this event including attendance and sponsorship packages can be found here.