Babcock & Wilcox Enterprises, Inc. has announced the sale of the majority of the assets of its Denmark-based Babcock & Wilcox A/S (B&W A/S) subsidiary to Kanadevia Inova Denmark A/S (Kanadevia Inova) for $20 million. This move will see a portion of the proceeds directed towards the deployment of B&W’s innovative BrightLoop hydrogen production and carbon capture facility in Massillon, Ohio.

Kanadevia Inova, recognized as a global greentech leader, specializes in pioneering solutions that drive the energy transition and foster a circular economy. The acquisition of B&W A/S’s assets significantly bolsters Kanadevia Inova’s portfolio of sustainable technologies.

The transaction encompasses the sale of key B&W A/S technologies, including the well-established DynaGrate combustion grate and other advanced waste-to-energy combustion solutions. As part of the agreement, Kanadevia Inova will assume responsibility for a selection of ongoing projects within Europe, ensuring continuity and leveraging their expertise in the sector.

Furthermore, the deal facilitates the transfer of approximately 50 employees, primarily based in Denmark, to Kanadevia Inova and its affiliated entities. This transfer ensures the retention of valuable expertise and experience within the waste-to-energy sector. B&W will retain certain other contracts, which will be completed with collaborative support from Kanadevia Inova.

While this sale marks a significant shift in B&W’s European operations, the company has affirmed its ongoing commitment to the North American waste-to-energy market. B&W will continue to serve this region with its comprehensive suite of boiler, environmental, and other energy solutions, maintaining its strong presence and customer relationships.

Kenneth Young, B&W Chairman and Chief Executive Officer, emphasized the strategic rationale behind the divestiture. “This sale is consistent with our previously announced objective to sell certain assets and use the proceeds to pay down existing debt and for working capital moving forward,” he stated. He further highlighted the exciting prospects of the transaction, noting, “We are excited that a portion of the proceeds will be used for our Massillon, Ohio, BrightLoop project and look forward to working closely with Kanadevia Inova on potential North American waste-to-energy projects in the future.”

The deployment of the BrightLoop technology in Massillon, Ohio, represents a significant step forward for B&W in the clean energy sector. BrightLoop is designed to produce clean hydrogen while capturing carbon emissions, aligning with the growing global focus on sustainable energy solutions and decarbonization efforts. The infusion of capital from this asset sale will accelerate the development and implementation of this crucial project.