Babcock & Wilcox Assists Amager Resource Center’s Application to E.U. to Fund Innovative Carbon Capture Project in Denmark

Rhea-AI Summary

Babcock & Wilcox (BW) Environmental announced its support for Amager Resource Center's application for over €120 million ($140 million USD) in EU funding to develop a carbon dioxide capture facility at Copenhill in Copenhagen. B&W will collaborate with Saipem and Novozymes on the project if funding is approved. The technology utilized includes B&W's SolveBright™ solvent for carbon capture, aiming to capture 500,000 tonnes of CO₂ annually. This initiative aligns with Copenhagen's goal of becoming carbon-neutral by 2025.

Positive

• Support for ARC's application for €120 million ($140 million USD) in EU funding.
• Collaboration with Saipem and Novozymes for project development.
• Utilization of SolveBright™ technology for effective CO₂ capture.
• Potential to capture 500,000 tonnes of CO₂ annually.

Negative

• None.

Babcock & Wilcox (B&W) (NYSE: BW) Environmental announced today that it will support Amager Resource Center’s (ARC) application for more than €120 million ($140 million USD) in European Union funding to build an advanced carbon dioxide (CO₂) capture facility at ARC’s Amager-Bakke (Copenhill) waste-to-energy facility in Copenhagen, Denmark.

B&W has submitted a letter of support for ARC’s funding application to the E.U.’s Innovation Fund and intends to collaborate closely with Italy-based Saipem and Denmark-based Novozymes to develop the project if funding is approved and ARC selects the team’s proposal.

B&W will utilize its significant operational and engineering knowledge of the facility’s process systems as well as its SolveBright^™ regenerable solvent technology to facilitate an integrated design. B&W previously designed and supplied the combustion and emissions control systems, including the advanced DynaGrate^® waste-to-energy combustion grate, for the state-of-the-art Copenhill plant.

“B&W’s ClimateBright^™ decarbonization technologies, including our SolveBright regenerable solvent process, have positioned us as a clear leader in combatting greenhouse gas emissions and climate change worldwide,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “We’re excited to build on our strong relationship with ARC and leverage our market-leading technology to support its funding application for this important project. We’re also pleased to help Copenhagen meet its objective to become the first carbon-neutral world capital by 2025.”

As part of the ClimAid Copenhagen initiative, ARC announced plans to install CO₂-capture technology at Copenhill and capture and sequester 500,000 tonnes of CO₂ annually.

“It is crucial that the private sector invests in the green transition. ARC is pleased that B&W – with their significant insights to the plant as the technology provider and O&M (operations and maintenance) supplier – has announced its dedication to maturing carbon capture by developing enzyme-accelerated methods to capture CO₂,” said Jacob H. Simonsen, Chief Executive Officer at Amager Resource Center. “B&W’s CCS technology (SolveBright), together with developing enzyme-accelerated alternatives to traditional methods of carbon capture, will help to build knowledge and can potentially make the process more effective and sustainable, resulting in reduced cost for the green transformation. It is in the interest of ARC, Denmark and the global climate.”

SolveBright technology is part of B&W’s complete suite of ClimateBright decarbonization technologies and was developed by B&W in conjunction with university researchers. The patented technology was successfully piloted by B&W, in addition to being selected by the U.S. Department of Energy to be the first technology used by the U.S. National Carbon Capture Center’s scrubbing system.

To learn more about B&W’s ClimateBright decarbonization technologies, please visit babcock.com/decarbonization.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to funding for, and B&W’s potential participation in, the building of an advanced carbon dioxide (CO₂) capture facility at ARC’s Amager-Bakke (Copenhill) waste-to-energy facility in Copenhagen, Denmark. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210701005860/en/

FAQ

What is Babcock & Wilcox's involvement with Amager Resource Center?

Babcock & Wilcox is supporting Amager Resource Center's application for over €120 million in EU funding for a carbon capture facility at Copenhill.

What technology will Babcock & Wilcox use in the CO2 capture project?

Babcock & Wilcox will use its SolveBright™ regenerable solvent technology in the carbon capture project.

What is the estimated annual CO2 capture capacity of the new facility?

The facility aims to capture approximately 500,000 tonnes of CO2 annually.

When does Copenhagen aim to become carbon-neutral?

Copenhagen aims to be the first carbon-neutral capital by 2025.