Babcock & Wilcox sells assets of Denmark subsidiary to Kanadevia Inova for $20M

Babcock & Wilcox Enterprises announced it has sold the majority of the assets of its Denmark-based Babcock & Wilcox A/S subsidiary to Kanadevia Inova Denmark A/S for $20M, a portion of which will be used for the deployment of B&W’s BrightLoop hydrogen production and carbon capture facility in Massillon, Ohio. Kanadevia Inova is a global greentech leader, pioneering innovative solutions for the energy transition and circular economy. The sale includes the DynaGrate combustion grate and other waste-to-energy combustion technologies. Under the agreement, Kanadevia Inova will assume responsibility for certain projects currently underway in Europe. It also provides for the transfer of approximately 50 employees located primarily in Denmark to Kanadevia Inova and its affiliates. B&W will retain other contracts to be completed with support from Kanadevia Inova. B&W will continue to serve the waste-to-energy market in North America with its boiler, environmental and other energy solutions.