Babcock & Wilcox Enterprises Inc (NYSE: BW) To Fund Carbon Capture Project

Babcock & Wilcox Enterprises Inc (NYSE: BW) announced that the company would be assisting ARC (Amager Resource Center’s) application of more than $140 million in European Union funding for an advanced carbon capture project in Denmark.

To assist ARC’s funding application: Babcock & Wilcox (B&W) intends to work closely with Denmark-based Novozymes and Italy-based Saipem to develop an innovative project, provided the funding is approved and Amager Resouce Center’s hand-picked the team proposals.

The company will be using its expertise in terms of operational and engineering process systems to provide an integrated design. Babcock & Wilcox had in the past worked on various renewable (waste to energy) projects, where the company provides the emission control system for the Copenhill plan.

Babcock & Wilcox, a leader in green gas emission: Babcock & Wilcox’s Climate Bright® decarbonisation technology, has positioned the company as a leader in the renewable segment (green gas emission) and climate change globally. The current work with ARC, is expected to strengthen their relationship further and helped Babcock & Wilcox leverage their expertise for such an innovative project. As a result, the company is expected to help Copenhagen to become carbon neutral by 2025.

As a part of the project, ARC is expected to install technology to capture CO2 at Copenhill and is expected to capture 50,000 tonnes of carbon annually. This will be only possible with the help of B&W insights, as they will play a vital role in developing enzyme accelerated methods to capture carbon. The development of the enzyme accelerated methods is far superior to the conventional method of capturing carbon, as the new process is sustainable and highly effective. As a result, it will be led to lower costs for green gas transmission. In addition, the B&W decarbonisation technology (SolveBright) is also selected by the U.S Department of Energy for capturing carbon.

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