Babcock & Wilcox partners with Kiewit Industrial to develop and supply the world’s largest carbon-negative biomass gas, power plant for Fidelis New Energy, using state-of-the-art biomass technology…

– Named Preferred Supplier, B&W will provide engineering, design, equipment and technology services to support project development

– B&W will provide all technologies related to biomass boilers, emissions and carbon capture

AKRON, Ohio, April 01, 2022–(BUSINESS WIRE)–

Babcock & Wilcox Partners with Kiewit Industrial to Develop and Supply the World’s Largest Carbon Negative Gas Plant from Biomass, Energy for Fidelis New Energy, Using Cutting-Edge Biomass Technology and Proprietary Carbon Capture Technology B&W OxyBright™

Babcock & Wilcox (B&W) (NYSE: BW) today announced, as preferred technology provider, that it is partnering with Kiewit Industrial to deliver Fidelis New Energy’s net negative carbon biomass power plant project in Port of Grand Baton Rouge, Louisiana. The 200 megawatt power plant will be the largest of its kind in the world.

The facility project, dubbed Project Cyclus, will supply electricity to Fidelis’ state-of-the-art Grön Fuels facility, which produces 73,000 barrels per day, to produce sustainable aviation fuel, renewable diesel, hydrogen, and bioplastic feedstocks, with a “negative (net) carbon footprint”. Fidelis will sequester the biogenic carbon in a carbon sink developed and secured by its subsidiary Capio Sequestration, in accordance with the previously announced operating agreement between Capio and the State of Louisiana.

B&W will provide engineering, design, equipment and technology services to support the development of the biomass power plant. The company’s B&W Renewable business segment will design and supply a 200 megawatt bubbling fluidized bed biomass electric boiler, while the B&W Environmental segment will supply its OxyBright™ oxy-combustion technology, to to isolate and capture carbon for long-term sequestration, as well as a full range of environmental technologies to control other emissions, such as nitrogen oxides and sulfur oxides, as well as particulate and volatile organic compounds . The plant will use these technologies to produce clean energy with a negative net carbon impact of more than two million tonnes per year.

“We are delighted to be able to partner with Fidelis to provide them with our advanced technologies to help develop green fuels with a net negative carbon impact in the United States,” said Kenny Young, president and CEO of B&W. “We are also in talks with Fidelis regarding the creation of green hydrogen from biomass, using our Brightloop™ chemical looping process, which will revolutionize hydrogen production worldwide. We look forward to continuing our joint efforts with Fidelis to create green fuels for use around the world. »

“To be able to design, develop and deliver our large-scale climate-impact infrastructure systems, Fidelis needs leading strategic partners, and after thorough work and review. We are delighted to have selected and collaborated with Babcock & Wilcox and Kiewit, as technology partners and delivery partners,” said Dan Shapiro, CEO and co-founder of Fidelis.

Bengt Jarlsjo, co-founder and COO of Fidelis, added: “Through our RACER™ structure, Babcock & Wilcox, Kiewit and Fidelis bring the optimal combination of culture, proven technologies, design focused on environmental, social and governance (ESG) criteria and ability to execute, to deliver carbon negative electricity as the third component of our flagship Fidelis Climate GigaSystem™ facility, Grön Fuels. »

“We are delighted to continue our long-standing relationship with B&W – this time working closely together on a cutting-edge project, which will allow Fidelis to continue to bring innovative green energy solutions to United States,” said Tyler Nordquist, president of Kiewit Industrial. “We look forward to sharing our extensive engineering, procurement and construction experience and resources in this strategic partnership with B&W, so that we can safely deliver this important facility. »

“As the transition to clean, near-zero emissions and carbon negative energy accelerates in the United States and around the world, B&W is uniquely positioned to provide the advanced technologies needed to decarbonize, emissions control, as well as clean power generation,” said Jimmy Morgan, executive vice president and chief operating officer of B&W. “We are delighted to be able to work alongside Fidelis and its other partners to support the development of this state-of-the-art clean energy project. »

“Our decarbonization solutions, including our OxyBright oxy-combustion technology, build on proven technologies,” Morgan said. “The Cyclus Biomass and Carbon Capture Project is an ideal way to utilize this efficient, effective and revolutionary technology. »

“We believe that bioenergy with carbon capture and sequestration (BECCS) is a transformative approach to reducing greenhouse gases through carbon negativity. Our partnership with B&W and Kiewit provides us with efficient, flexible and highly scalable technologies and services. OxyBright will enable Cyclus as well as the Grön Fuels ecosystem to achieve carbon negative operation on an unprecedented scale, through proven technology,” said Byron Best, Senior Vice President and Chief Engineer at Fidelis .

B&W’s OxyBright technology is part of the company’s ClimateBright™ family of decarbonization and hydrogen technologies. The oxy-combustion process, which uses pure oxygen for combustion, can be used with a wide range of fuels to produce a concentrated stream of carbon ready for sequestration or for beneficial use. As part of the Cyclus project, the OxyBright process will use biomass fuels – including wood chips and waste, bagasse or other available fuels – while CO2 captured will be sequestered underground.

B&W Bubbling Fluidized Bed Boilers are ideally suited for integration with the oxy-combustion process, and are designed to operate with a wide range of fuels, separately or together. The ability to use a variety of fuel types and sources gives owners more flexibility to take advantage of available fuels and control their cost.

About Babcock & Wilcox

Based 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 get more information at www.babcock.com.

About Fidelis New Energy

Fidelis New Energy, LLC is a Houston-based climate-positive infrastructure company focused on creating and operating projects and systems in the decarbonization and sustainability sectors in high-demand markets. Fidelis uses RACER™ as a proprietary ESG-focused, value-maximizing framework to identify, develop and operate its Climate GigaSystems™, delivering risk-adjusted economic value and superior environmental performance, through the application of a philosophy of “reducing environmental impact” throughout the life cycle of projects. Fidelis’ Climate GigaSystems™ are large-scale industrial production facilities, connected to carbon capture infrastructure and carbon sequestration infrastructure. While Grön Fuels is the first facility, the Climate GigaSystems™ are designed to serve a wide range of industrial sectors, serving as a platform to rapidly decarbonize the global economy. Fidelis’ management team and advisory board have extensive experience in selecting, scouting and developing markets in order to propose new real estate assets. The team’s experience includes project and corporate finance, mergers and acquisitions, project development, engineering, construction, project management, as well as optimization and operational management. Fidelis was created in 2019 by its long-standing founding associate members working together for more than 18 years as part of a management team, benefiting from a vast common professional experience with the co-founders, from the time they worked together within the companies “The Shaw Group, Inc.”, “Quanta Capital Solutions, Inc.” and “First Infrastructure Capital Advisors, LLC”. To find out more about Fidelis New Energy, Climate GigaSystems™ or the RACER™ structure, go to www.fidelisnewenergy.com and stay informed via LinkedIn.

Forward-looking statements

B&W advises that this press release contains forward-looking statements, including, but not limited to, statements relating to B&W’s appointment as preferred technology supplier with respect to the proposed Net Negative Carbon Flux Biomass Power Plant of Fidelis New Energy, located in Port of Greater Baton Rouge, Louisiana, related decarbonization, emissions control, and clean power generation technologies, as well as project development support. 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, please see our reports filed with the US Federal Securities and Exchange Commission (SEC), including our most recent annual report. on Form 10-K. If any of these or other risks materialize, actual results could vary materially from the results expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We disclaim any obligation to update or revise any forward-looking statements unless applicable law requires it.

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contacts

Shareholders contact:
Megane Wilson
Vice President, Corporate Development and Shareholder Relations
Babcock and Wilcox
704.625.4944 | [email protected]

Media contact:
Ryan Cornell
Public relations
Babcock and Wilcox
330.860.1345 | [email protected]

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