8 Rivers, an American carbon capture, utilization, and storage (CCUS) technology developer, has announced receiving an investment of USD 100 million (approx. KRW 120 billion won) from SK Materials—SK Group's materials-specific investment arm. Following the investment, SK Materials will acquire a 12% stake in 8 Rivers.

The investment will grant SK Materials exclusive business rights to commercialize 8 River’s CCUS tech in South Korea and the rest of Asia and also receive priority participation on worldwide projects and future technologies. SK Materials also reported that it plans to build a plant in South Korea using 8 Rivers' technology to sell blue hydrogen and clean electricity. Further details on the plant were not disclosed.

Founded in 2008, 8 Rivers has developed two technologies in the CCUS space. Its Allam-Fetvedt Cycle technology is a novel approach to create low-cost power from carbon-based fuels without air pollution. The company’s  8RH2 blue hydrogen production technology produces clean hydrogen while capturing all carbon emissions while claiming to boost carbon emission capture rates by up to 99%.