Baker Hughes and Woodside Energy Announce Collaboration Framework to Develop Small-Scale Decarbonization Solution Utilizing Net Power Platform

Core Insights - Baker Hughes and Woodside Energy announced a joint initiative to develop a lower carbon power generation technology solution utilizing the Net Power platform, targeting oil and gas, heavy industries, and smaller scale applications [1][2] - The collaboration builds on a 2022 Memorandum of Understanding aimed at decarbonizing the natural gas supply chain, now formalized through a Technology Development Agreement [2][3] - The initiative will assess the feasibility and scalability of the Net Power platform, with plans to involve additional development partners [3][4] Company Overview - Baker Hughes is an energy technology company providing solutions to energy and industrial customers globally, with operations in over 120 countries [6] - Woodside Energy is a global energy company based in Australia, focused on providing reliable and affordable energy [7] Technology Development - The Net Power platform is designed to generate affordable power using natural gas while capturing nearly all carbon dioxide emissions [2] - Baker Hughes is the exclusive provider of the small-scale application of the Net Power platform, with ongoing development and testing at a demonstration facility in Texas [4] - The collaboration aims to leverage combined engineering and carbon capture utilization and storage (CCUS) capabilities to explore lower-carbon emissions power solutions [5]