8 Rivers

What 8 Rivers does

8 Rivers is a Durham, North Carolina-based clean energy and climate technology company founded in 2008 that develops and commercializes infrastructure-scale decarbonization technologies built on a shared foundation of oxy-combustion and CO2 as a working fluid. Its portfolio comprises four core platforms: the Allam-Fetvedt Cycle (AFC), a supercritical CO2 power cycle that combusts carbon-based fuels with pure oxygen to inherently capture 95–99% of CO2; 8RH2, an ultra-low-carbon hydrogen production process using a CO2 Convective Reformer that achieves >99% carbon capture at 5–7% higher efficiency and 5–10% lower cost than conventional methods; Calcite, a direct air capture system using calcium hydroxide targeting sub-$100/ton CO2 removal; and SepR8, a sour gas sweetening process using liquid CO2 as a solvent. The company holds over 500 granted patents across 70+ patent families, making it the world's largest holder of CO2-related energy-system IP, and it originated the Allam-Fetvedt Cycle through Chief Inventor Rodney Allam MBE.

The company monetizes through a combination of technology licensing (including an exclusive license of AFC for natural gas to NET Power, which it founded in 2010 and in which it retains an equity stake), project development partnerships with utilities and industrial counterparties (PacifiCorp/Rocky Mountain Power, NTEC, ENEOS Xplora, Casale SA), and strategic investments tied to regional joint ventures (notably a $100M investment and Asia-Pacific JV with SK Group in March 2022). Its flagship commercial deployment, Cormorant Clean Energy in Port Arthur, Texas, will produce 880,000 tonnes of ammonia annually while capturing 1.4 million tonnes of CO2 using 8RH2. Operations span the United States, Asia-Pacific (via the SK JV), the Middle East, Europe, and East Asia.

8 Rivers operates an enterprise go-to-market model targeting electric utilities, hard-to-abate industries (shipping, aviation, steel, cement), natural gas producers with sour reserves, and carbon removal markets. Distribution is delivered through direct enterprise sales, technology licensing, regional JVs, and equipment supply partnerships (e.g., Casale SA as exclusive global supplier of the CCR). Pricing is not publicly disclosed; contracts are negotiated on a project-by-project basis with long cycles spanning Pre-FEED, FEED, and commercial deployment, often accompanied by government funding applications (DOE, Wyoming Energy Authority). The company's competitive position rests on inherent rather than post-combustion carbon capture, a deep IP moat, and a multi-technology portfolio that addresses power generation, hydrogen, direct air capture, and gas processing within a unified technical architecture.

Name

8 Rivers

Legal name

8 Rivers Capital, LLC

Website

https://8rivers.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

51–100 employees

Short description

8 Rivers is a Durham, North Carolina clean energy and climate technology company founded in 2008 that develops oxy-combustion and supercritical CO2-based decarbonization technologies — the Allam-Fetvedt Cycle, 8RH2 hydrogen, Calcite direct air capture, and SepR8 sour gas processing — licensed or co-developed with utilities, industrial partners, and strategic investors.

Ownership category

akta.pro rank

Product category

Clean Energy Technology

NAICS

Engine, Turbine, and Power Transmission Equipment Manufacturing (33361), Electric Power Generation (22111), Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Engines & Turbines (3510), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Industrial Steam Systems Decarbonization (Boiler Upgrades, Condensate Recovery, Steam Optimization) (EUABAJAK)

Keywords

• Carbon capture technology
• Oxy-combustion systems
• Direct air capture
• Ultra-low-carbon hydrogen
• Clean energy infrastructure

Headquarters

HQ city

Durham

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Technology Licensing: 8 Rivers licenses its technology portfolio (Allam-Fetvedt Cycle, 8RH2, Calcite, SepR8) to energy companies and projects worldwide. The Allam-Fetvedt Cycle for natural gas is exclusively licensed to NET Power. Licensing enables global deployment beyond 8 Rivers' own project portfolio.
2. Project Development: 8 Rivers develops marquee low-carbon projects in partnership with Fortune 500 companies, combining its technology with project development expertise to deploy carbon capture projects at scale.
3. Strategic Partnership Investment: 8 Rivers receives investments from strategic partners (e.g., SK Group's $100M investment in 2022) in exchange for joint venture development of zero-emissions projects, particularly in the Asia-Pacific region.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

8 Rivers develops and licenses a proprietary portfolio of decarbonization technologies for power generation, hydrogen production, atmospheric CO2 removal, and sour gas processing, all built on a common oxy-combustion platform using CO2 as the working fluid. The company commercializes these technologies through global licensing (e.g., the Allam-Fetvedt Cycle is exclusively licensed to NET Power) and project development partnerships with utilities, energy companies, and industrial partners.

Product overview

8 Rivers is a clean energy and climate technology company that has developed a portfolio of four distinct decarbonization technologies: the Allam-Fetvedt Cycle (AFC) for zero-emissions power generation, 8RH2 for ultra-low-carbon hydrogen production, Calcite for direct air capture, and SepR8 for sour gas processing. These technologies share a common foundation in oxy-combustion and CO2 utilization. The company commercializes these technologies through proprietary projects like Cormorant Clean Energy (ammonia production) and partnerships for deploying AFC at existing power plants. All technologies are designed to capture CO2 inherently or directly, enabling various industries to achieve net-zero emissions.

Differentiator

Problem solved

Functional benefit

Brands

• 8RH2: Ultra-low-carbon hydrogen production technology using oxy-combustion and the CO2 Convective Reformer (CCR) to achieve >99% carbon capture. First commercial deployment at Cormorant Clean Energy in Port Arthur, Texas.
• Allam-Fetvedt Cycle (AFC)
• Calcite
• SepR8
• Cormorant Clean Energy

Products and services

• Allam-Fetvedt Cycle (AFC) A supercritical CO2 power generation cycle that combusts carbon-based fuels (natural gas, biomass, solid fuels) with pure oxygen instead of air, inherently capturing 95-99% of CO2 emissions. Uses high-pressure CO2 as the working fluid and produces only liquid water and pipeline-ready CO2 as byproducts. Exclusively licensed to NET Power for natural gas.
• 8RH2 (8 Rivers Hydrogen) Ultra-low-carbon hydrogen production process using oxy-combustion and a CO2 Convective Reformer (CCR), where natural gas is reformed in CO2 that serves as the heat transfer medium. Achieves greater than 99% carbon capture at 5-7% greater efficiency and 5-10% lower levelized cost of hydrogen than conventional hydrogen production with carbon capture. Casale SA is the exclusive global supplier of the CCR technology.
• Calcite Direct air capture technology that uses calcium hydroxide to absorb CO2 from ambient air, forming calcium carbonate crystals that are then heated in an oxygen-fired kiln to regenerate calcium hydroxide and capture CO2 for sequestration. Targets CO2 removal of over 1 billion tons for less than $100 per ton. Winner of the DOE DAC Hub Grant and XPRIZE for Carbon Removal Phase I.
• SepR8 Sour gas sweetening technology that uses liquid CO2 as a solvent to remove H2S and CO2 from high-sulfur natural gas, eliminating the need for hazardous amine solvents. Inherently captures CO2 produced during processing while enabling economic access to stranded sour gas reserves, with lower CAPEX and OPEX than traditional amine-based methods.

Quantifiable outcome

• Allam-Fetvedt Cycle captures 95-99% of carbon emissions inherently by design, with no additional capture equipment required
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• Southwest Research Institute (SwRI)majorTechnology or Integration · 15 October 2025SwRI and 8 Rivers were jointly awarded a patent for a power generation system using liquid oxygen storage (LOX) to improve cost-effectiveness and efficiency. The system modifies the Allam-Fetvedt Cycle and researchers are considering incorporating the technology into the STEP Demo pilot plant in San Antonio.
• Navajo Transitional Energy Company (NTEC)coreStrategic or Co-development Partner · 20 May 20258 Rivers partnered with NTEC (a tribal enterprise of the Navajo Nation) to conduct a feasibility study for deploying Allam-Fetvedt Cycle technology at coal-fired power plants in the Powder River Basin of Wyoming or on Navajo Nation lands. The project targets up to 1,000 megawatts of generation with ~8 million tonnes CO2 capture per year.
• WoodcoreImplementation/ SI/ Consulting Partner · 12 March 20258 Rivers awarded Wood a Pre-FEED agreement for front-end engineering and design activities at the jointly-developed Wyoming carbon capture project with PacifiCorp. Wood brings gasification design experience and global resources to support the project targeting Q3 2025 conclusion.
• Siemens EnergycoreStrategic or Co-development Partner · 13 August 20248 Rivers and Siemens Energy partnered to develop a zero-emission turbine that generates electricity (~270MWe) from captured carbon dioxide using supercritical CO2. Siemens Energy provides technical and supply chain competencies, generators, services, compression and grid technologies. The partnership advances carbon-negative power solutions toward commercial deployment.
• Casale SAcoreStrategic or Co-development Partner · 17 January 20248 Rivers and Casale SA entered a joint development agreement for the CO2 Convective Reformer (CCR), a key component of the 8RH2 ultra-low-carbon hydrogen technology. Casale becomes exclusive global CCR supplier and provides performance, process, and mechanical guarantees. Casale also provides ammonia synthesis loop technology for Cormorant Clean Energy.
• Rocky Mountain Power (PacifiCorp)coreStrategic or Co-development Partner · 1 January 20248 Rivers and Rocky Mountain Power announced collaboration on a carbon capture project at an existing RMP brownfield coal power plant in Wyoming. The project will deploy Allam-Fetvedt Cycle technology with inherent carbon capture. Wyoming Energy Authority approved $1.5 million in funding for Pre-FEED activities.
• Southern States Energy BoardcoreStrategic or Co-development Partner · 1 January 2023Southern States Energy Board serves as project lead for the Southeast DAC Hub (SEDAC) with Calcite as anchor technology. The hub is located in Mobile County, Alabama with a target to capture 50,000 tonnes of CO2 per year upon completion.
• Chart IndustriesminorStrategic or Co-development Partner · 1 January 20238 Rivers announced an MOU with Chart Industries to evaluate and identify opportunities where Chart's technologies and systems can complement and bring added value to 8 Rivers' portfolio and projects.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• NET Power: NET Power (NYSE: NPWR) is the exclusive licensee of 8 Rivers' Allam-Fetvedt Cycle for natural gas, founded by 8 Rivers in 2010, and represents the primary commercialization path for AFC in the natural gas power market. Direct peer given shared technology foundation and overlapping customer base in utility-scale low-carbon power.
• Climeworks: Climeworks is a leading direct air capture company operating commercial DAC plants and selling carbon removal credits. Direct peer to 8 Rivers' Calcite technology, competing in the same voluntary carbon removal market and pursuing similar DOE DAC Hub funding.
• Heirloom Carbon Technologies: Heirloom is a direct air capture startup using limestone-based DAC technology to remove CO2 from atmosphere. Direct peer to 8 Rivers' Calcite given competing DAC approaches, similar California/DAC Hub selection, and shared XPRIZE Carbon Removal competition.
• Carbon Engineering: Carbon Engineering is a direct air capture company acquired by Occidental Petroleum, operating large-scale DAC facilities. Direct peer to 8 Rivers' Calcite technology in the commercial DAC and carbon removal credit markets.

Broad incumbents

• Mitsubishi Heavy Industries: Mitsubishi Heavy Industries offers carbon capture solutions including the KM CDR process and amine-based post-combustion CO2 capture for power and industrial applications. Broad incumbent in CCS that competes with 8 Rivers' inherent-capture approach across power, steel, and cement sectors.
• Topsoe: Topsoe is a leading provider of hydrogen production technology, including SOEC electrolysis and conventional SMR with carbon capture. Broad incumbent competing with 8 Rivers' 8RH2 in the ultra-low-carbon hydrogen market for ammonia, refining, and heavy industry applications.
• Air Products: Air Products is a global industrial gases leader with major clean hydrogen and ammonia projects (e.g., NEOM Green Hydrogen). Broad incumbent in blue/green hydrogen that competes with 8 Rivers' 8RH2 for industrial-scale low-carbon hydrogen supply contracts.
• Babcock & Wilcox: Babcock & Wilcox offers post-combustion carbon capture, decarbonization, and clean energy solutions for power and industrial customers. Broad incumbent in industrial steam decarbonization that competes with 8 Rivers in utility and industrial CCS projects.
• Linde: Linde is a global industrial gases giant with significant clean hydrogen, carbon capture, and decarbonization technology portfolios. Broad incumbent providing competing solutions across 8 Rivers' hydrogen, DAC, and CCS markets.

Others

• Battelle Memorial Institute: Battelle operates the DOE-funded Southeast DAC Hub (the same program anchoring 8 Rivers' Calcite) and is a major research/technology organization in carbon management. Adjacent peer as the lead contractor on the SEDAC Hub where 8 Rivers' Calcite is the anchor DAC technology.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds3 records

Investors2 records

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M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 8 Rivers