White & Case Advises 8 Rivers Capital on Investment in Power Company Developing Emission-Free and Carbon-Free System

Global law firm White & Case LLP has advised 8 Rivers Capital, LLC in connection with the investment by Oxy Low Carbon Ventures, LLC (OLCV), a subsidiary of Occidental Petroleum Corporation, in the capital of NET Power, LLC.

OLCV's investment will advance the development of NET Power's low-cost, natural gas electric power system that generates no atmospheric emissions and inherently captures all carbon dioxide (CO₂). Upon receiving regulatory approval in Texas, OLCV will join the current investors in NET Power: Exelon Generation; McDermott; and 8 Rivers Capital.

8 Rivers Capital is a Durham NC–based firm leading the innovation of sustainable infrastructure-scale technologies. As the inventor of the Allam Cycle, 8 Rivers Capital also focuses on developing economic and sustainable production of hydrogen, (including uses for the CO₂ captured by the cycle) as well as the production of ethylene and other valuable products, and the removal of sulphur impurities from gas streams.

The White & Case team that advised on the transaction included partners Michael Smith and Raymond Azar, as well as associate Jeff Kaplan all in New York.

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