U.S. clean technology firm 8 Rivers Capital LLC has secured $100 million in investment from South Korea’s SK Group and formed a joint venture to deploy zero-emissions projects in the Asia-Pacific region, the company said on March 8.
8 Rivers develops zero-carbon technologies such as hydrogen, carbon capture and biomass carbon removal. Some of SK Group's subsidiaries are active in energy industries and the group aims to reduce CO₂ emissions by 200 million tonnes by 2030.
To achieve net-zero emissions by 2050, many companies are investing in scaling up renewable energy production and green hydrogen to lessen reliance on fossil fuels.
The joint venture will combine 8 Rivers’ technology with SK’s regional presence to deploy clean hydrogen and zero-emissions power projects in the Asia-Pacific region, which emits more CO₂ emissions each year than the rest of the world combined, 8 Rivers said.
“Decarbonizing the global economy is both a multitrillion-dollar business opportunity and, more importantly, an environmental and social necessity,” 8 Rivers CEO Cam Hosie said.
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