Baker Hughes, an energy technology company, and Woodside Energy, a prominent Australian energy firm, announced a joint initiative on Thursday to advance a lower carbon power generation technology solution. This initiative aims to utilize the Net Power platform, specifically designed for oil and gas, including liquefied natural gas, heavy industries, and other smaller-scale applications.
The collaboration builds on the 2022 Memorandum of Understanding, which focused on decarbonizing the natural gas supply chain. The two companies have now formalized their efforts through a Technology Development Agreement to develop the small-scale Net Power platform. This patented technology harnesses natural gas to generate economical power while capturing nearly all carbon dioxide emissions in the process.
Baker Hughes and Woodside intend to invite additional development partners into the initiative to customize the concept for the evolving needs of various captive power generation sectors. The TDA will also concentrate on evaluating the feasibility and scalability of the Net Power platform in industrial markets.
As the exclusive provider of the small-scale application of the Net Power platform, Baker Hughes will leverage ongoing development and testing at Net Power’s demonstration facility in La Porte, Texas, and the planned utility-scale power plant near Midland, Texas.
Woodside’s executive vice president of technical and energy development, Julie Fallon, expressed enthusiasm about the collaboration, stating, “We are excited to continue our collaboration with Baker Hughes and leverage their leading-edge technology and our combined engineering and CCUS capabilities to explore and develop lower-carbon emissions alternative power solutions using Net Power’s platform. This agreement further strengthens our long-standing relationship across the natural gas value chain and our shared journey in the energy transition.”
Alessandro Bresciani, senior vice president of climate technology solutions at Baker Hughes, affirmed the company’s commitment to innovative solutions for decarbonization. He remarked, “We are honored to share this journey with our long-standing customer Woodside Energy. We believe this framework represents the partnerships and collaborations necessary to develop and scale the energy solutions that support decarbonization while also meeting the world’s growing energy demand.”
Danny Rice, CEO of Net Power, praised the collaboration between Baker Hughes and Woodside, highlighting its potential to expand the technology’s application to a wider range of end markets. He noted, “Today’s announcement is a tangible commitment to continue technology innovation and market development for the Net Power platform and to bring ultra-low emissions energy solutions to a power-hungry world.”
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