8 Rivers Capital, LLC, a global leader in decarbonization technology and project development, has announced an investment from JX Nippon Oil Exploration USA Limited, a subsidiary of JX Nippon Oil & Gas Exploration Corporation. This funding will accelerate the deployment of 8 Rivers’ Calcite Direct Air Capture solution as it transitions from pilot projects to commercial-scale implementation.
The first commercial application of Calcite, called Project Cardinal, is planned for the U.S. Gulf Coast, with front-end engineering design expected to begin in 2025. This project is part of the broader SEDAC hub, which has secured $20.5 million in funding for FEED studies. These studies will support the construction of two DAC facilities, each targeting the capture of 50,000 tons of CO2 annually. JX’s investment will also assist in risk reduction for Calcite’s pilot project in Mobile, Alabama.
This marks JX’s first foray into the growing DAC market and is a significant step in its ongoing partnership with 8 Rivers. The two companies had previously signed a Comprehensive Collaboration Agreement in 2021, focusing on the development of carbon capture projects. Following Project Cardinal, JX plans to explore opportunities to deploy Calcite across the Asia-Pacific region.
Christopher Richardson, CEO of 8 Rivers, highlighted the importance of the investment, noting that it strengthens their partnership with JX and positions Calcite as a key solution in the global energy transition. Tetsuo Yamada, CSO of JX Nippon Oil & Gas Exploration, emphasized the critical role of DAC in achieving a carbon-neutral society and expressed confidence in Calcite’s potential for commercial success.
This investment follows Calcite’s recent recognition by the US Department of Energy as a winner of the DAC Hub grant, alongside previous funding and awards from agencies such as the DOE’s ARPA-E FLECCS program and XPRIZE for Carbon Removal. The partnership between 8 Rivers and JX is expected to drive large-scale demonstration and commercialization of Calcite, contributing to global efforts to achieve net-zero emissions by 2050.
For more information visit www.8Rivers.com
