Babcock & Wilcox, General Hydrogen Corp. Agree To Key Terms For Sale Of Carbon-Negative Hydrogen And CO2 Produced From Biomass At Louisiana Plant; No Financial Terms Disclosed
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Babcock & Wilcox (B&W) has agreed to sell carbon-negative hydrogen and CO2 produced from biomass at its Louisiana plant to General Hydrogen Corp., a CGI Gases subsidiary. The hydrogen will be produced using B&W's BrightLoop technology, with production expected to start in mid-2026. General Hydrogen will purchase and transport up to 15 tons of hydrogen per day, while CGI Gases will purchase and transport the captured CO2. The deal also represents a geographic expansion for General Hydrogen Corp. and CGI Gases.
August 07, 2023 | 8:36 pm
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Babcock & Wilcox's agreement with General Hydrogen Corp. to sell carbon-negative hydrogen and CO2 could potentially increase its revenues and strengthen its position in the clean energy market.
The agreement with General Hydrogen Corp. could potentially increase Babcock & Wilcox's revenues as it will be selling hydrogen and CO2 produced at its Louisiana plant. Additionally, this deal could strengthen Babcock & Wilcox's position in the clean energy market, as it demonstrates the company's ability to produce carbon-negative hydrogen using its BrightLoop technology.
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