Babcock & Wilcox, General Hydrogen Corp. Agree to Key Terms for Sale of Carbon-Negative Hydrogen and CO2 Produced from Biomass at Louisiana Plant
August 07 2023 - 4:05PM
Business Wire
- Hydrogen and CO2 will be produced from B&W’s BrightLoop™
technology using biomass and other solid fuels
- Production anticipated to begin in mid-2026
Babcock & Wilcox (B&W) (NYSE: BW) announced today that
it has reached an agreement on a term sheet for General Hydrogen
Corp., a CGI Gases subsidiary, to purchase net-negative carbon
intensity hydrogen from a biomass-fueled facility utilizing
BrightLoop™ technology being developed by B&W in Louisiana.
As the exclusive partner within defined segments for the
distribution of hydrogen produced at the plant, General Hydrogen
would purchase and transport off-site up to 15 tons of hydrogen per
day, and CGI Gases would purchase and transport compressed carbon
dioxide (CO2) captured during the process.
B&W’s BrightLoop process is an innovative, scalable,
chemical looping technology that can produce hydrogen from
virtually any feedstock, including solid fuels such as waste wood
and other types of biomass. The process also produces an isolated
CO2 stream for capture, beneficial use or sequestration, as well as
nitrogen that can be combined with hydrogen to create ammonia.
“B&W is focused on producing clean hydrogen or
carbon-negative hydrogen in the U.S. and worldwide,” said Joe
Buckler, B&W Senior Vice President, Clean Energy. “Thanks to
the unique BrightLoop process, B&W is perfectly positioned to
play a key role in producing net-negative carbon emissions hydrogen
for a variety of uses, including power production, industrial
processes and transportation fuel. The ability to use chemical
looping to produce hydrogen from solid fuels – like biomass – truly
sets us apart from our competitors.”
“We’re pleased to partner with General Hydrogen and excited to
take this next step to produce hydrogen and capture CO2 at
commercial scale,” Buckler said. “We are evaluating other potential
projects with General Hydrogen and look forward to working with
them in support of their hydrogen customers.”
The project also represents a geographic expansion for General
Hydrogen Corp. and CGI Gases.
“The clean energy produced by B&W’s BrightLoop technology is
an important scaling opportunity that builds on our company’s
current distribution expertise and our U.S. network,” said Eileen
Zullo, President and Chief Executive Officer of CGI Gases. “This
project expands the partnership between both companies. We’re
pleased to be collaborating in multiple markets, leveraging
B&W’s expertise with General Hydrogen Corp.’s operational and
distribution experience.”
B&W’s BrightLoop facility is targeted for operation in
2026.
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.
About CGI Gases CGI Gases is a 75-year-old, privately
held independent distributor of industrial gases. The company is
headquartered in Washington, Pa., at the intersection of the
nation’s key hydrogen hub corridors. General Hydrogen Corporation
is a subsidiary of CGI Gases, focused on the production and supply
of gaseous hydrogen.
Forward-Looking Statements B&W cautions that this
release contains forward-looking statements, including, without
limitation, statements relating to the signing of a Term Sheet
between B&W and General Hydrogen for a purchase agreement for
hydrogen and CO2 produced at a facility being developed in
Louisiana. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230807036618/en/
Investor Contact: Investor Relations Babcock & Wilcox
704.625.4944 investors@babcock.com
Media Contact: Ryan Cornell Public Relations Babcock
& Wilcox 330.860.1345 rscornell@babcock.com
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