Babcock & Wilcox Wins Contract For Carbon Capture Study At Swedish Facility

Babcock & Wilcox Enterprises, Inc. BW has secured a contract to perform a comprehensive feasibility study for integrating its SolveBright CO2 capture technology at Mälarenergi AB's waste-to-energy facility in Västerås, Sweden.

B&W's SolveBright scrubbing system is a post-combustion carbon capture technology that removes CO2 directly from flue gas using a regenerable solvent in an absorber.

Mälarenergi aims to capture 400,000 tonnes of CO2 annually, store it permanently, and reach carbon neutrality by 2035.

The study will examine integrating B&W's SolveBright system with the waste-to-energy plant and district heating network, managing usable heat, optimizing facility operations, and identifying the best technical setup for improved efficiency.

“We’re pleased to collaborate with Mälarenergi on this feasibility study to demonstrate how B&W’s advanced SolveBright technology can dramatically reduce the Västerås plant’s greenhouse gas emissions,” said B&W Chief Operating Officer Jimmy Morgan.

BW Stock Prediction 2024

Babcock & Wilcox’s revenue growth in FY23 was 15.64%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company’s future prospects.

Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 4.83%, while PPI recently came in unchanged, growing 1.8% from last year. The unemployment rate was most recently reported as 4.1%.

An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Babcock & Wilcox stock. For real time economic data and breaking market updates, check out Benzinga Pro. Try it for free.

How does this stack up against Babcock & Wilcox's peers?

Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. Babcock & Wilcox operates in the Industrials sector. The stock has experienced average annual growth of -36.14% compared to the -12.26% average of its peer companies. This is below the broader sector movement of Babcock & Wilcox.

Price Action: BW shares are trading higher by 2.73% at $2.63 premarket at the last check Monday.

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