AKRON, Ohio--(BUSINESS WIRE)--$BW #biomass--Babcock & Wilcox (B&W) (NYSE: BW) announced today that it has signed an agreement with NRG Korea to study the applicability of B&W�s BrightLoop� technology for a hydrogen generation facility using biomass fuel in South Korea.
B&W�s BrightLoop chemical looping technology is part of its ClimateBright� suite of decarbonization and hydrogen technologies. The BrightLoop process uses a proprietary, regenerable particle and has been demonstrated to effectively separate carbon dioxide (CO2) while producing hydrogen, steam and/or syngas, and is ready for commercial scale-up.
B&W and NRG have signed a memorandum of understanding to study the technology and potentially develop the project, which would use waste biomass as feedstock to produce hydrogen for fuel cells used for electrical generation.
�As the energy transition accelerates, clean hydrogen from net-carbon neutral sources will play an increasingly important role in energy generation,� said Joe Buckler, B&W Senior Vice President, Clean Energy. �B&W�s BrightLoop technology is a cutting-edge solution for hydrogen generation from virtually any fuel stock, and, depending on a customer�s needs, also can be used to isolate CO2 for capture or use, and produce steam or syngas. BrightLoop is a flexible solution with a wide array of potential applications.�
�We�re excited to have the opportunity to work closely with NRG to develop this groundbreaking clean energy project,� Buckler said.
Jay Kim, Chief Executive Officer of NRG Korea said, �NRG Korea is excited to be cooperating with Babcock & Wilcox, a world-renowned technology leader, in the development of this unique and innovative energy project. We see this project as a significant development in the renewable energy space by generating clean electrical power using green hydrogen produced from a renewable waste-based fuel.�
NRG Korea, established in 2008, is a Korean company specializing in waste processing and manufacture of alternative fuels and holds a number of patents related to their unique processing technologies.
B&W�s ClimateBright suite of revolutionary decarbonization technologies are designed to help utilities and industry aggressively combat greenhouse gas emissions and climate change. These technologies have application for a wide range of industries including energy production, food manufacturing, steel, cement, oil and gas, pharmaceutical, petrochemical, carbon black, and pulp and paper.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the signing of a memorandum of understanding with NRG Korea to study the applicability of B&W�s BrightLoop technology for a biomass to hydrogen facility in South Korea. These forward-looking statements are based on management�s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Contacts
Investor Contact:
Investor Relations
Babcock & Wilcox
704.625.4944
[email protected]
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345
[email protected]
