Baker Hughes(BKR) ZACKS·2025-03-07 14:15Group 1: Collaboration and Agreements - Baker Hughes and Woodside Energy have strengthened their collaboration through a new Technology Development Agreement (TDA) aimed at developing small-scale decarbonization solutions leveraging Net Power's platform [1][2] - This initiative builds on a 2022 Memorandum of Understanding (MoU) focused on reducing emissions across the natural gas supply chain and follows a 10-year service frame agreement signed in July 2024 to support Woodside's LNG operations in Australia [2] Group 2: Technology and Innovation - The patented Net Power platform generates electricity using natural gas while capturing nearly all associated carbon dioxide (CO2) emissions, with Baker Hughes holding exclusive rights to the platform's small-scale applications [3] - The TDA will assess the feasibility of scaling Net Power's technology to meet different industrial needs, with plans to incorporate additional development partners [4] Group 3: Industry Commitment and Future Outlook - Woodside's executive vice president emphasized the company's commitment to leveraging advanced carbon capture and utilization technologies in collaboration with Baker Hughes [5] - The partnership is expected to expand Net Power's reach beyond utility-scale projects, highlighting Baker Hughes' growing role in industrial decarbonization and the transition toward cleaner energy solutions [6]