SK Inc. materials increases US investment to expand CCUS biz

• Published date: 10 March 2023
• Publication title: The Korea Times

SK Inc. materials is accelerating its clean energy business, expanding investment into 8 Rivers, which owns innovative Carbon Capture, Storage and Utilization (CCUS) technology, according to the company.

According to SK Inc. materials, the SK Inc. board approved the decision on March 6 to form a fund worth $300 million to invest in U.S. clean tech.

Through this investment, SK Inc. materials plans to actively develop the CCUS-based clean energy business in the U.S. and further strengthen the strategic partnership with 8 Rivers.

8 Rivers was established in 2008 in North Carolina. The company owns patented technology for producing clean electricity and blue hydrogen, which captures more than 99 percent of carbon dioxide in an innovative and low-cost way.

CCUS is recognized as a key technology that advances carbon neutrality by removing carbon dioxide emitted by the industry.

Following the passage of the U.S. Inflation Reduction Act (IRA) last August, CCUS technology is being highly appreciated as the...