8 Rivers Capital and Monetizing Gas Africa to collaborate on development of innovative clean energy solutions in South Africa, hydrogen included.
US clean energy innovation firm 8 Rivers Capital, LLC (8 Rivers), and Monetizing Gas Africa (PTY) LTD (MGA), have this week signed an initial agreement for the collaboration on projects to deploy innovative clean technology in South Africa based on the 8 Rivers’ technology suite to provide clean, efficient, and low-cost carbon-free hydrogen, power and fuels.
8 Rivers and MGA will consider the potential decarbonizing of Liquified Natural Gas (LNG) imports in South Africa, whereby the resulting CO2 from the use of LNG is fully captured and disposed of to assist South Africa to further mitigate its over-dependence on emitting coal-fired power, and to help meet its expected COP26 emissions reduction NDCs (Nationally-Determined Commitments) while also alleviating its severe energy crisis.
The initial step in the process will be for the parties to assess the viability, siting, and funding for a zero emissions LNG project, a process which is expected to commence early in 2022.
MGA and 8 Rivers both recognize the opportunity to deploy clean hydrogen, power and fuels projects given the global energy transition amidst efforts to decarbonize the global energy sector, and are pleased to be able to work together to achieve this important goal, and recognize that bringing decarbonized projects to Africa will also serve as a critical vector for social and economic development for the region, helping Africa to ‘leap-frog’ into a low-emissions future.
Cam Hosie, Chief Executive of 8 Rivers Capital commented:
8 Rivers has been driving the energy transition for over a decade, developing best-in-class net zero solutions across sectors.
“We look forward to working closely with Monetizing Gas Africa to help South Africa and the broader region to utilize advanced technologies to cost effectively move to a low-carbon economy and a sustainable future.”
Rodney MacAlister, CEO of Monetizing Gas Africa commented:
MGA is a South Africa born and bred energy project development company eager to assist the country with its Just Energy Transition in the cleanest of ways.
“8 Rivers’ carbon-neutral technologies and development experience will enable South Africa to balance its generation supply dependability while ensuring zero carbon escapes into the atmosphere. We very much welcome this collaboration and look forward to jointly progressing major project developments.”
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8 Rivers Capital and Monetizing Gas Africa Inc. to collaborate on development of innovative clean energy solutions in South Africa, CAPE TOWN, South Africa, November 10, 2021
