Babcock & Wilcox News

• Hydrogen and CO₂ will be produced from B&W’s BrightLoop^TM technology using biomass and other solid fuels
• Production anticipated to begin in mid-2026

(AKRON, Ohio – August 7, 2023) – 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^TM 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.