Babcock & Wilcox and Chart Industries to Collaborate on Hydrogen Innovation Utilizing B&W’s BrightLoopTM Technology
December 01 2022 - 6:30AM
Business Wire
Babcock & Wilcox (B&W) (NYSE: BW) announced today that
it has entered into an agreement with Chart Industries, Inc. (NYSE:
GTLS) to collaborate on the further deployment of B&W’s
BrightLoopTM hydrogen generation technology, utilizing Chart’s
integrated hydrogen liquefaction and cryogenic carbon capture
equipment and expertise. Together, this solution provides economic
generation of low-carbon hydrogen and supplies cost-effective,
transportable forms of liquid hydrogen and carbon dioxide.
B&W and Chart will also work together to develop sales and
marketing strategies for potential commercial hydrogen and carbon
capture customers and projects.
“This collaboration agreement with Chart offers tremendous
opportunity to further deploy B&W’s advanced BrightLoop
technology,” said Kenneth Young, Chairman and Chief Executive
Officer, B&W. “Chart is recognized as an industry leader in
liquefaction of CO2 and hydrogen, and their expertise will
complement B&W’s proven chemical looping technology as we work
together to identify new opportunities to grow our respective
businesses.”
“Low-carbon intensity hydrogen is already playing a key role in
the global effort to reduce emissions and combat climate change,”
Young said. “We’re excited to use our technologies and expertise to
help customers across the power and industrial markets achieve
their greenhouse gas and emissions reduction targets.”
"We are excited to partner with B&W to accelerate further
progress in the growing hydrogen economy, in particular, for
bringing more efficient and scalable solutions,” said Jill Evanko,
Chart’s CEO and President. “The combination of our respective
companies’ hydrogen, CO2 and chemical technology expertise is
expected to bring more innovative and cost-effective offerings to
customers looking to low-carbon intensity hydrogen to help achieve
their carbon emission reduction goals.”
B&W's flexible BrightLoop technology – part of its
ClimateBright™ suite of decarbonization and hydrogen technologies –
is applicable to a wide range of feedstock, product outputs and
applications for industries and utilities. The BrightLoop system is
scalable and can convert a wide range of fuels, including natural
gas, coal, petroleum coke (petcoke), methane, biomass, biogas, and
other industrial process off-gases and materials into hydrogen,
syngas and steam for power, process and heating while also
isolating CO2 for storage or use.
Chart’s state-of-the-art, efficient hydrogen liquefaction
process technology and equipment solutions allow for produced
hydrogen gas to be more effectively stored and transported much
longer distances as a dense liquid, using Chart storage tanks,
trailers, ISO containers, and rail cars. Chart’s Sustainable Energy
Solutions (SES) cryogenic carbon capture (CCC) technology removes
CO2 from flue gas and supplies liquid CO2 ready for transport via
trailer or pipeline to storage or utilization. The refrigeration
for both hydrogen liquefaction and CCC can be combined to decrease
capital and operating costs.
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 Chart Industries, Inc.
Chart Industries, Inc. is a leading independent global
manufacturer of highly engineered equipment servicing multiple
applications in the clean energy and industrial gas markets. The
company’s unique product portfolio is used in every phase of the
liquid gas supply chain, including upfront engineering, service and
repair. Being at the forefront of the clean energy transition,
Chart is a leading provider of technology, equipment and services
related to liquefied natural gas, hydrogen, biogas and CO2 Capture
amongst other applications. Chart is committed to excellence in
environmental, social and corporate governance (ESG) issues both
for its company as well as its customers. With over 25 global
locations from the United States to Asia, Australia, India, Europe
and South America, the company maintains accountability and
transparency to its team members, suppliers, customers and
communities. To learn more, visit www.chartindustries.com
Forward-Looking Statements
B&W cautions that this release contains forward-looking
statements, including, without limitation, statements relating to
an agreement to collaborate with Chart Industries, Inc. on the
further deployment of B&W’s BrightLoop hydrogen generation
technology, utilizing Chart’s integrated hydrogen liquefaction and
cryogenic carbon capture equipment and expertise. 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/20221201005379/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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