Babcock & Wilcox Updates

Babcock & Wilcox Enterprises, Inc. has recently made an announcement regarding the sale of its assets located in Denmark. The company has sold the majority of the assets of its Babcock & Wilcox A/S subsidiary to Kanadevia Inova Denmark A/S for $20 million. This deal will enable Babcock & Wilcox to utilize a portion of the proceeds for the deployment of its BrightLoop™ hydrogen production and carbon capture facility in Massillon, Ohio. Kanadevia Inova is a global leader in green technology, focusing on innovative solutions for the energy transition and circular economy.

As part of the sale, Kanadevia Inova will acquire the DynaGrate® combustion grate and other waste-to-energy combustion technologies. Additionally, they will take over certain projects that are currently in progress in Europe and will welcome about 50 employees from Babcock & Wilcox A/S to join their team. However, Babcock & Wilcox will retain other contracts and continue to serve the waste-to-energy market in North America with its range of boiler, environmental, and energy solutions.

Kenneth Young, the Chairman and CEO of Babcock & Wilcox, expressed his excitement about the sale and highlighted the company’s focus on using the proceeds to pay off existing debts and invest in future opportunities. He emphasized their commitment to the Massillon, Ohio BrightLoop project and indicated potential collaborations with Kanadevia Inova for waste-to-energy projects in North America down the line.

Babcock & Wilcox Enterprises, Inc. is headquartered in Akron, Ohio, and is known for its cutting-edge energy and environmental solutions for power and industrial markets worldwide. The company’s forward-thinking approach and dedication to clean power production technology position them as leaders in the industry. Their continuous efforts in improving clean power production technologies play a crucial role in paving the way for a net-zero future.

In conclusion, the recent sale of assets to Kanadevia Inova marks a significant step for Babcock & Wilcox towards achieving its strategic goals and advancing its clean power production initiatives. The collaboration between the two entities holds promise for future innovations and projects in the waste-to-energy sector in North America, further solidifying Babcock & Wilcox’s position as a key player in the global transition to clean energy solutions.