{"id":846986,"date":"2025-05-06T06:38:01","date_gmt":"2025-05-06T10:38:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/babcock-wilcox-to-use-portion-of-proceeds-of-asset-sale-for-brightloop-technology-deployment-including-massillon-project\/"},"modified":"2025-05-06T06:38:01","modified_gmt":"2025-05-06T10:38:01","slug":"babcock-wilcox-to-use-portion-of-proceeds-of-asset-sale-for-brightloop-technology-deployment-including-massillon-project","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/babcock-wilcox-to-use-portion-of-proceeds-of-asset-sale-for-brightloop-technology-deployment-including-massillon-project\/","title":{"rendered":"Babcock &amp; Wilcox to Use Portion of Proceeds of Asset Sale for BrightLoop\u2122 Technology Deployment, Including Massillon Project"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Babcock &amp; Wilcox to Use Portion of Proceeds of Asset Sale for BrightLoop\u2122 Technology Deployment, Including Massillon Project<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nB&amp;W and Kanadevia Inova also sign Memorandum of Understanding to evaluate potential cooperation on development of BrightLoop projects using waste and biomass\n<\/li>\n<\/ul>\n<p>AKRON, Ohio&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nBabcock &amp; Wilcox Enterprises, Inc. (\u201cB&amp;W\u201d or the \u201cCompany\u201d) (NYSE: BW) announced that it will use a portion of the funds received from the sale of the assets of its Denmark-based Babcock &amp; Wilcox A\/S subsidiary to Kanadevia Inova for the deployment of its BrightLoop\u2122 hydrogen production facility in Massillon, Ohio.\n<\/p>\n<p>\n\u201cWe are excited to collaborate with Kanadevia Inova on opportunities to expand the uses of our BrightLoop technologies around the world,\u201d said Kenneth Young, B&amp;W Chairman and Chief Executive Officer. \u201cKanadevia Inova is a global leader in waste-to-energy technologies and renewable natural gas. BrightLoop has the capability to play a role in both and we look forward to working with them to evaluate potential use cases.\u201d\n<\/p>\n<p>\n\u201cWe continue to make exciting progress in the deployment of our commercial-scale BrightLoop facility, which will be located at the Massillon Energy and Technology Park in Massillon, Ohio,\u201d Young continued. \u201cThe plant will use our innovative chemical looping process to produce three to five tons-per-day of hydrogen from water, while also facilitating the capture of carbon dioxide for storage.\u201d\n<\/p>\n<p>\nThe companies also signed a Memorandum of Understanding (MOU) to evaluate potential cooperation on the development of BrightLoop projects using waste and biomass as feedstocks.\n<\/p>\n<p>\nB&amp;W&#8217;s BrightLoop technology utilizes its proprietary iron-oxide TranspO2rt\u2122 particle to produce hydrogen by splitting water molecules while simultaneously capturing carbon emissions more efficiently, at a lower cost per kilogram and with a wider range of fuels \u2013 including solid and gaseous fuels \u2013 than other technologies.\n<\/p>\n<p><b><i>About Babcock &amp; Wilcox<\/i><\/b><\/p>\n<p><i>Headquartered in Akron, Ohio, Babcock &amp; Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fbabcock-%26-wilcox&amp;esheet=54249599&amp;newsitemid=20250506724508&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=1&amp;md5=11ef45eb6d88538989155779a3196ecd\"><i>LinkedIn<\/i><\/a><i> and learn more at <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.babcock.com%2F&amp;esheet=54249599&amp;newsitemid=20250506724508&amp;lan=en-US&amp;anchor=babcock.com&amp;index=2&amp;md5=1553edf1137757d8e8671bd99e2cb3d8\"><i>babcock.com<\/i><\/a><i>.<\/i><\/p>\n<p><b><i>About Kanadevia Inova<\/i><\/b><\/p>\n<p><i>Kanadevia Inova is a global greentech leader, pioneering innovative solutions for the energy transition and circular economy.<\/i><\/p>\n<p><b><i>Forward-Looking Statements<\/i><\/b><\/p>\n<p><i>B&amp;W cautions that this release contains forward-looking statements, including, without limitation, statements relating to funds to be used in the development of a BrightLoop hydrogen and decarbonization facility in Massillon, Ohio, and the signing of an MOU for the potential development of future BrightLoop projects. 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><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250506724508r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250506724508\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250506724508\/en\/<\/a><\/span><\/p>\n<p><b>Investor Contact:<br \/>\n<\/b><br \/>Investor Relations<br \/>\n<br \/>Babcock &amp; Wilcox<br \/>\n<br \/>704.625.4944<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@babcock.com\">investors@babcock.com<\/a><\/p>\n<p><b>Media Contact:<br \/>\n<br \/><\/b>Ryan Cornell<br \/>\n<br \/>Public Relations<br \/>\n<br \/>Babcock &amp; Wilcox<br \/>\n<br \/>330.860.1345<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:rscornell@babcock.com\">rscornell@babcock.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Ohio<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Energy Utilities Environment Sustainability Alternative Energy Green Technology Energy<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250506724508\/en\/2460108\/3\/BW-logo-name_4clr.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Babcock &amp; Wilcox to Use Portion of Proceeds of Asset Sale for BrightLoop\u2122 Technology Deployment, Including Massillon Project B&amp;W and Kanadevia Inova also sign Memorandum of Understanding to evaluate potential cooperation on development of BrightLoop projects using waste and biomass AKRON, Ohio&#8211;(BUSINESS WIRE)&#8211; Babcock &amp; Wilcox Enterprises, Inc. (\u201cB&amp;W\u201d or the \u201cCompany\u201d) (NYSE: BW) announced that it will use a portion of the funds received from the sale of the assets of its Denmark-based Babcock &amp; Wilcox A\/S subsidiary to Kanadevia Inova for the deployment of its BrightLoop\u2122 hydrogen production facility in Massillon, Ohio. \u201cWe are excited to collaborate with Kanadevia Inova on opportunities to expand the uses of our BrightLoop technologies around the world,\u201d said Kenneth Young, B&amp;W Chairman &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/babcock-wilcox-to-use-portion-of-proceeds-of-asset-sale-for-brightloop-technology-deployment-including-massillon-project\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Babcock &amp; Wilcox to Use Portion of Proceeds of Asset Sale for BrightLoop\u2122 Technology Deployment, Including Massillon Project&#8221;<\/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-846986","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Babcock &amp; Wilcox to Use Portion of Proceeds of Asset Sale for BrightLoop\u2122 Technology Deployment, Including Massillon Project - 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-to-use-portion-of-proceeds-of-asset-sale-for-brightloop-technology-deployment-including-massillon-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Babcock &amp; Wilcox to Use Portion of Proceeds of Asset Sale for BrightLoop\u2122 Technology Deployment, Including Massillon Project - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Babcock &amp; Wilcox to Use Portion of Proceeds of Asset Sale for BrightLoop\u2122 Technology Deployment, Including Massillon Project B&amp;W and Kanadevia Inova also sign Memorandum of Understanding to evaluate potential cooperation on development of BrightLoop projects using waste and biomass AKRON, Ohio&#8211;(BUSINESS WIRE)&#8211; Babcock &amp; Wilcox Enterprises, Inc. (\u201cB&amp;W\u201d or the \u201cCompany\u201d) (NYSE: BW) announced that it will use a portion of the funds received from the sale of the assets of its Denmark-based Babcock &amp; Wilcox A\/S subsidiary to Kanadevia Inova for the deployment of its BrightLoop\u2122 hydrogen production facility in Massillon, Ohio. \u201cWe are excited to collaborate with Kanadevia Inova on opportunities to expand the uses of our BrightLoop technologies around the world,\u201d said Kenneth Young, B&amp;W Chairman &hellip; Continue reading &quot;Babcock &amp; Wilcox to Use Portion of Proceeds of Asset Sale for BrightLoop\u2122 Technology Deployment, Including Massillon Project&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/babcock-wilcox-to-use-portion-of-proceeds-of-asset-sale-for-brightloop-technology-deployment-including-massillon-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-06T10:38:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250506724508r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/babcock-wilcox-to-use-portion-of-proceeds-of-asset-sale-for-brightloop-technology-deployment-including-massillon-project\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/babcock-wilcox-to-use-portion-of-proceeds-of-asset-sale-for-brightloop-technology-deployment-including-massillon-project\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Babcock &amp; 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