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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