Baker Hughes and Woodside Energy in Collaboration to Develop Small-Scale Decarbonization Solution Utilizing Net Power Platform
London, March 06, 2025, (Oilandgaspress) –– Baker Hughes (NASDAQ: BKR), an energy technology company, and Woodside Energy (ASX: WDS; NYSE: WDS), a leading Australian energy company, announced Thursday a joint initiative to develop a lower carbon power generation technology solution utilizing the Net Power (NSYE: NPWR) platform that is specifically designed for oil and gas (including LNG), heavy industries and other smaller scale applications.
Building on their 2022 Memorandum of Understanding (MoU), which aimed to advance the decarbonization of the natural gas supply chain, Baker Hughes and Woodside have now signed a Technology Development Agreement (TDA), to develop the small-scale Net Power platform. The patented Net Power platform works by utilizing natural gas to generate affordable power while inherently capturing nearly all carbon dioxide (CO2) emissions.
Baker Hughes and Woodside aim to bring other development partners into the program to tailor the concept to the continuously evolving requirements of different captive power generation segments.
Through the TDA, the program will also focus on assessing feasibility and industrial market scalability of Net Power’s platform.
Baker Hughes is the exclusive provider of the small-scale application of the Net Power platform, and the TDA will benefit from the development and testing currently ongoing both at Net Power’s La Porte, Texas, demonstration facility and the company’s planned first utility-scale power plant near Midland, Texas.
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