{"id":511568,"date":"2021-07-12T06:33:01","date_gmt":"2021-07-12T10:33:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/babcock-wilcox-nrel-sign-exclusive-ip-option-agreement-for-advanced-renewable-energy-storage-technology\/"},"modified":"2021-07-12T06:33:01","modified_gmt":"2021-07-12T10:33:01","slug":"babcock-wilcox-nrel-sign-exclusive-ip-option-agreement-for-advanced-renewable-energy-storage-technology","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/babcock-wilcox-nrel-sign-exclusive-ip-option-agreement-for-advanced-renewable-energy-storage-technology\/","title":{"rendered":"Babcock & Wilcox, NREL Sign Exclusive IP Option Agreement for Advanced, Renewable Energy Storage Technology"},"content":{"rendered":"

<\/p>\n

Babcock & Wilcox, NREL Sign Exclusive IP Option Agreement for Advanced, Renewable Energy Storage Technology<\/b><\/p>\n

Technology will provide up to up to 100 hours of long-term energy storage for up to 135 megawatts of power generation<\/b><\/p>\n

AKRON, Ohio–(BUSINESS WIRE<\/a>)–
\nBabcock & Wilcox (“B&W”) (NYSE: BW) and the U.S. Department of Energy\u2019s National Renewable Energy Laboratory (NREL) have signed an Intellectual Property Option Agreement that gives B&W field-limited exclusive rights to negotiate a licensing agreement that would allow it to market an advanced, particle-based thermal energy storage technology currently in development.\n<\/p>\n

\nB&W is part of NREL\u2019s Duration Addition to electricitY Storage (DAYS) Advanced Research Projects Agency-Energy (ARPA-E) team, which is developing an innovative electric particle heater, pressurized fluidized-bed heat exchanger, a long-term thermal energy storage system that stores energy up to 100 hours, and other technologies to allow power producers to store solar or wind energy to generate continuous, reliable, grid-scale power. B&W\u2019s proven and established pressurized fluidized-bed boiler technology is an ideal choice for advancing this technology to commercial operations.\n<\/p>\n

\n\u201cHigh-capacity, long-term energy storage is essential for renewable energy sources such as solar and wind power to become widespread, baseload power options,\u201d said B&W Chairman and Chief Executive Officer Kenny Young. \u201cB&W\u2019s fluidized-bed heat exchanger will be able to generate up to 135 megawatts of power for up to 100 hours (four days) from stored clean thermal energy with zero CO2 emissions. By facilitating long-term storage of zero-carbon, renewable energy, this technology enables power producers to deliver power to the grid 24-hours a day, including during periods of peak demand, or when solar or wind are not optimal conditions.\u201d\n<\/p>\n

\n\u201cWe see tremendous global commercial applications for our fluidized-bed heat exchanger and are pleased to have the opportunity to negotiate a licensing agreement with NREL and expand B&W\u2019s technology for use in new, innovative energy storage platforms,\u201d Young said.\n<\/p>\n

\nB&W and NREL are also engaged in discussions to develop a prototype heat exchanger that can be scaled-up for a pilot demonstration as part of NREL\u2019s Economic Long-Duration Electricity Storage Using Low-Cost Thermal Energy Storage and a High-Efficiency Power Cycle (ENDURING) project.\n<\/p>\n

About Babcock & Wilcox<\/i><\/b><\/p>\n

Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn<\/a> and learn more at www.babcock.com<\/a><\/i>.\n<\/p>\n

Forward-Looking Statements<\/i><\/b><\/p>\n

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an intellectual property option agreement between B&W and U.S. Department of Energy\u2019s National Renewable Energy Laboratory (NREL) that gives B&W exclusive rights to negotiate a licensing agreement and to market an advanced, particle-based thermal energy storage technology currently in development. These forward-looking statements are based on management\u2019s 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.<\/i><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210712005184\/en\/<\/a><\/span><\/p>\n

Investor Contact:
\n<\/b>
Megan Wilson
\n
Vice President, Corporate Development & Investor Relations
\n
Babcock & Wilcox
\n
704.625.4944 | investors@babcock.com<\/a><\/p>\n

Media Contact:
\n<\/b>
Ryan Cornell
\n
Public Relations
\n
Babcock & Wilcox
\n
330.860.1345 | rscornell@babcock.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Ohio<\/p>\n

INDUSTRY KEYWORDS:<\/b> Alternative Energy Construction & Property Energy Manufacturing Technology Nuclear Environment Urban Planning Other Manufacturing Other Technology Science Other Science Other Energy Research Utilities Engineering<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Babcock & Wilcox, NREL Sign Exclusive IP Option Agreement for Advanced, Renewable Energy Storage Technology Technology will provide up to up to 100 hours of long-term energy storage for up to 135 megawatts of power generation AKRON, Ohio–(BUSINESS WIRE)– Babcock & Wilcox (“B&W”) (NYSE: BW) and the U.S. Department of Energy\u2019s National Renewable Energy Laboratory (NREL) have signed an Intellectual Property Option Agreement that gives B&W field-limited exclusive rights to negotiate a licensing agreement that would allow it to market an advanced, particle-based thermal energy storage technology currently in development. B&W is part of NREL\u2019s Duration Addition to electricitY Storage (DAYS) Advanced Research Projects Agency-Energy (ARPA-E) team, which is developing an innovative electric particle heater, pressurized fluidized-bed heat exchanger, a … <\/p>\n

Continue reading “Babcock & Wilcox, NREL Sign Exclusive IP Option Agreement for Advanced, Renewable Energy Storage Technology”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-511568","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBabcock & Wilcox, NREL Sign Exclusive IP Option Agreement for Advanced, Renewable Energy Storage Technology - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/babcock-wilcox-nrel-sign-exclusive-ip-option-agreement-for-advanced-renewable-energy-storage-technology\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Babcock & Wilcox, NREL Sign Exclusive IP Option Agreement for Advanced, Renewable Energy Storage Technology - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Babcock & Wilcox, NREL Sign Exclusive IP Option Agreement for Advanced, Renewable Energy Storage Technology Technology will provide up to up to 100 hours of long-term energy storage for up to 135 megawatts of power generation AKRON, Ohio–(BUSINESS WIRE)– Babcock & Wilcox (“B&W”) (NYSE: BW) and the U.S. Department of Energy\u2019s National Renewable Energy Laboratory (NREL) have signed an Intellectual Property Option Agreement that gives B&W field-limited exclusive rights to negotiate a licensing agreement that would allow it to market an advanced, particle-based thermal energy storage technology currently in development. 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