The majority shareholder in Net Power is the North Carolina-based, which is looking to use this turbine technology to overhaul the world’s power and industrial sectors to reduce greenhouse gas emissions.
You know, we've announced three Net Power projects ourselves in the past 12 months. Those will be 300 megawatt scale systems, two here in the U.S., one in the U.K. There's a strong pipeline of opportunities that are coming for further Net Power deployments. So, in that sense, I think the Ship Channel project has checked that box exactly.
The energy industry of the future is going to be complex, probably more so than what we have today. There has to be renewables. I don’t view this as an either-or in the slightest, rather all things complementing each other as we look to electrify the entire grid, to try and get there by 2050. Q: What impact is the spike in oil and natural gas prices having on carbon capture. It would seemingly push the needle away from fossil fuels, and thus carbon capture, and towards wind and solar energy.Honestly, I don't believe it's having a lot of effect today. These are projects which will be measured in decades. The oil industry, its entire life has had short term price spikes and price drops. Two years ago, we were at zero for a couple of days.
There’s been substantial interest in the energy and chemicals space in South Korea, and they have made substantial commitments to decarbonization, aiming to remove, for instance, 200 million tons of carbon dioxide from their operations products by 2030. The investment with Eight Rivers, we'll be using that to grow our capacity, increase the number of projects we can do, the number of technologies that we're offering.
Sounds like Green Agenda nonsense.
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