8 Rivers develops various technologies with a focus on clean hydrogen and ammonia, zero-emission power cycles, direct air capture (DAC), and other clean energy technologies. The company is also the inventor of NET Power, a startup developing zero-emission power stations using the Allam-Fetvedt Cycle technology.
8 Rivers has developed calcite carbon removal technology at a laboratory scale in collaboration with the Massachusetts Institute of Technology (MIT), with further funding from the US Department of Energy. The company’s calcite DAC process captures CO2 directly from the atmosphere into calcium carbonate crystals and sequesters it. In January 2024, 8 Rivers announced the Cormorant Clean Energy Project in Texas, to commercialize the company's proprietary 8RH2 hydrogen process.
Key customers and partnerships
8 Rivers, together with UK-based DAC startup Origen Carbon Solutions, designed a novel calcite air contractor for the Calcite-Origen project, in which Frontier (formed by Stripe, Alphabet, Shopify, Meta, and McKinsey Sustainability) purchased its first carbon removal credits. In November 2022, 8 Rivers signed an MoU with JX Nippon, a Japanese oil and gas exploration company, to evaluate the US Gulf Coast for the commercial deployment of sustainable infrastructure. In August 2023, 8 Rivers spearheaded the Southeast DAC (SEDAC) hub alongside AirCapture, Crescent Resource Innovation among many other partners. In January 2024, the company partnered with Casale, a Swiss-based fertilizer and chemical producer, to jointly develop their 8RH2 ultra-low-carbon hydrogen technology by integrating a CO2 Convective Reformer (CCR). In August 2024, 8 Rivers partnered with Siemens Energy to develop a zero-emission turbine that generates electricity from captured CO2.
Funding and financials
In August 2023, 8 Rivers-led consortium received grant funding of USD 20.5 million from the US Department of Energy for the deployment of the SEDAC hub. In March 2022, the company raised USD 100 million in a corporate venture round led by SK Materials. The proceeds were used to fund the commercialization of 8 Rivers’ CCUS technology in South Korea and the rest of Asia. Following the investment, SK Materials acquired a 12% stake in 8 Rivers.
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