ESTEVAN, Saskatchewan, Jan. 13, 2021 /PRNewswire/ -- 8 Rivers Capital and the City of Estevan have been awarded a grant to undertake a feasibility study for a commercial-scale NET Power plant deployment. The grant was awarded through Western Economic Diversification Canada and the Coal Community Transition initiative. As a world pioneer in power sector carbon capture and storage, Estevan is an ideal location for one of the initial Canadian NET Power plant deployments.
NET Power's Allam-Fetvedt cycle technology combusts natural gas with oxygen, as opposed to air, and uses supercritical carbon dioxide as a working fluid to drive the turbine and produce zero emissions electricity. This cycle can hit the same efficiency of a traditional power plant while capturing all of its CO2 and eliminating all air pollutants. As the inventor of the Allam-Fetvedt cycle, 8 Rivers is ideally situated to partner with Estevan to hit their energy and economic goals.
Bill Brown, CEO at 8 Rivers Capital and NET Power, said: "We look forward to working with Estevan to drive power production where clean is cheaper than dirty. A November 2020 MIT study characterized the underlying technology as "a real game changer." 8 Rivers is proud to deploy the NET Power technology in partnership with Estevan. Working with Estevan and leaders in Ottawa, Regina and other provincial and local governments—as well as with private entities like Canada Clean Energy Corporation—we can create jobs and deploy zero emission NET Power plants in a way that allows the entire country to achieve its net-zero emissions goal at the lowest possible costs.
8 Rivers will lead the Feasibility Study, performing engineering and economic analysis tailored to an Estevan deployment of the NET Power technology, work which will be overseen by the City of Estevan and funded by Western Economic Diversification Canada.
"We have been working hard to identify economic development opportunities like this for our city and we are excited to see more projects and studies moving ahead in Estevan." Said City Manager Jeff Ward. "Working with 8 Rivers, we hope to be able to develop a strong plan that we can present to the provincial and federal governments during discussions around the future of power generation in Estevan."
8 Rivers Capital, LLC is a Durham, NC-based firm leading the innovation of sustainable, infrastructure-scale technologies. As the inventor of the Allam-Fetvedt Cycle, 8 Rivers is also focusing on developing direct air capture, retrofit carbon capture, clean hydrogen well below $1 per kg, and uses for the CO₂ captured by the cycle, including the production of ethylene and other valuable products and the removal of sulfur impurities from gas streams. For more information, please visit: www.8Rivers.com
SOURCE 8 Rivers Capital, LLC