JX Nippon Oil & Gas Exploration Corp. , JX Nippon Oil Exploration Ltd. and 8 Rivers Capital LLC signed a comprehensive collaboration agreement to partner on the acceleration of the decarbonization of power and hydrogen generation globally.

"Collaboration with JX is a major force multiplier for decarbonization. It allows 8 Rivers to scale its clean energy business across the globe at a world-leading pace, leveraging JX's global footprint, expertise and decarbonization goals to accelerate deployment of zero-emissions power and hydrogen to help meet our collective net-zero ambitions," said Cam Hosie, CEO of 8 Rivers. "This global collaboration with a market-leading energy firm leveraging cutting-edge decarbonization technologies will help enable gigaton-scale carbon reductions."

JX has established itself in several CCUS projects, such as a CO₂ injection pilot test in Vietnam and the Petra Nova CCUS Project utilizing CO₂ captured from a thermal power plant in Texas. In addition to the continuation of safe and stable operations as an energy operator in Asia, JX has been exercising an initiative to develop its sustainable energy business.

8 Rivers invented the zero-carbon power generation system being commercialized by NET Power, LLC, of which 8 Rivers is a co-owner.  Further, 8 Rivers is the developer of clean hydrogen and ammonia technology, ⁸RH₂, and a suite of industrial decarbonization technologies including the TarT sour-gas treatment system and net-zero solutions for steel production, direct air capture, and point-source carbon capture. 8 Rivers is leading deployment of several marquee decarbonization projects globally, including major projects in the U.S, UK, Australia and Asia that are expected to be operating by mid-decade, reducing CO₂ emissions by millions of tonnes every year.