Policy

8 Rivers carbon-capture project in $60m capital-raise, drops bid for govt backing

Gavin Evans
Mon, 30 Sep 2019

By Gavin Evans Oct. 1 (BusinessDesk) - The promoter of a $4 billion carbon capture and storage project that would establish a New Zealand fertiliser export industry has abandoned its bid for government support and is raising $60 million privately to advance the initiative. US-based 8 Rivers Capital says it is in talks to raise $60 million to advance the project through to a final investment decision in late 2021. The firm is working with Toshiba on a suitable turbine for the 360-megawatt power project and an annual gas supply of 40 petajo...

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