8 Rivers Partner Rodney Allam Wins 2012 Global Energy Prize

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Apr 20, 2012, 04:41 ET

MOSCOW and DURHAM, N.C., April 20, 2012 /PRNewswire/ -- 8 Rivers Capital, LLC is proud to announce that Rodney J. Allam, a partner at 8 Rivers, will be awarded the 2012 Global Energy Prize. Mr. Allam's selection as a laureate for 2012 was announced at a press conference today in Moscow by the International Award Committee. Mr. Allam, of Chippenham, United Kingdom, will join Boris Katorgin and Valery Kostyuk, both of Russia, in receiving the prize in St. Petersburg, Russia later this year.

"I am honored and delighted to be receiving this award," Mr. Allam said when reached by phone during the announcement. "I am especially grateful to be joining the ranks of my two countrymen from the United Kingdom and all other laureates from around the world."

Mr. Allam is an internationally renowned expert in the fields of air separation, oxy-combustion, power generation and carbon capture and sequestration. Prior to joining the 8 Rivers team, Mr. Allam had a distinguished career as an inventor and technologist as the Director of Technology Development for Air Products and Chemicals Ltd and was a lead author of the Intergovernmental Panel on Climate Change report that won the 2007 Nobel Peace Prize.

"No one is more deserving of this recognition than Rodney Allam," said Dr. Miles Palmer, Chairman of 8 Rivers. "Rodney continues to devote his career and a lifetime of expertise to transformational advancements in the energy sector."

In his role at 8 Rivers, Mr. Allam is especially proud of his work with NET Power, "a revolutionary new energy technology that will have a profound effect on fossil-fuel power generation in the future," Mr. Allam said during the announcement. NET Power combines unprecedented energy efficiency, significantly lower capital costs and zero environmental impact. The technology is capable of utilizing natural gas, coal, or biomass -- all in a technology that does not need any water to operate.

"Rodney's inventions, innovations and intellect have been essential to developing the NET Power technology," said Bill Brown, CEO of NET Power, LLC. "It is only because of Rodney and the rest of the 8 Rivers team that NET Power is positioned to change the energy landscape as we know it."

8 Rivers Capital
8 Rivers Capital is a private equity firm that identifies critical problems and gathers innovators to develop and implement revolutionary solutions that are both "cheaper and better."

8 Rivers supports technologies in energy, transportation, medical devices, the employment market, parking, and telecommunications.

The Global Energy Prize
The Global Energy Prize is one of the world's most respected awards in energy science awarded each year for outstanding energy achievements and innovations that benefit humanity. The Prize is given to winners in an official ceremony which takes place ever year in June as part of the St. Petersburg International Economic Forum. The President of the Russian Federation participates in each year's award ceremony.

The Global Energy Prize was established in 2002 by a group of leading Russian scientists, supported by some of the largest energy companies and approved by the President of Russia.

For more information, visit http://www.globalenergyprize.org/en/ and http://www.8riverscapital.com.

SOURCE 8 Rivers Capital, LLC