B&W and Fluor Form Alliance to Market Carbon Capture Technology
09 März 2010 - 2:30PM
Business Wire
McDermott International, Inc. (NYSE:MDR) (“McDermott”),
announced today that one of its subsidiaries, Babcock & Wilcox
Power Generation Group, Inc. (“B&W”), and Fluor Corporation
have formed a strategic alliance to market and sell carbon dioxide
(“CO2”) capture systems for existing coal-fired power plants in the
United States and Canada.
B&W and Fluor will jointly market and provide project
execution for Fluor’s Econamine FG PlusSM technology – an advanced
version of an established Fluor process that has been successfully
used in 23 commercial plants for the recovery of CO2 from flue gas
for more than 20 years. The process uses an advanced amine-based
solvent to capture CO2, which can then be permanently stored or
used in other industrial applications.
The alliance combines the strengths of Fluor’s established
Econamine FG PlusSM technology and engineering, procurement and
construction capabilities with B&W’s expertise in the retrofit
supply and integration of air quality control systems.
“B&W is enthusiastic about this collaboration,” said Richard
L. Killion, President and Chief Operating Officer of Babcock &
Wilcox Power Generation Group, Inc. “B&W has long been a leader
with retrofit applications of air quality control systems and we
expect to create significant value for our customers.”
“Our combined efforts will position both companies to better
serve our power clients in the carbon capture market,” said Dave
Dunning, Fluor’s Power Group President. “By focusing on CO2
retrofit applications, we believe we capture and will deliver the
strengths of both companies in a way that our customers will
appreciate and value.”
Both companies will collaborate on providing engineering,
procurement, construction and commissioning services using Fluor’s
Econamine FG PlusSM technology. The agreement also includes a
license for B&W to use and market the technology in support of
this collaborative effort. B&W will provide Fluor access to its
research and development facilities and pilot plant in Barberton,
Ohio for testing and advancing the process for future coal-fired
plant scale-up applications.
McDermott is an engineering and construction company, with
specialty manufacturing and service capabilities, focused on energy
infrastructure. McDermott’s customers are predominantly utilities
and other power generators, major and national oil companies, and
the United States Government. With its global operations, McDermott
operates in over 20 countries with more than 25,000 employees.
In accordance with the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995, McDermott cautions that
statements in this press release regarding the expectations of the
carbon capture technology collaboration between B&W and Fluor
constitute forward-looking statements that involve risks and
uncertainties, including risks inherent in the development and
commercialization of carbon capture systems, the need for future
capital and inefficiencies or delays implementing the
collaboration. If one or more of these risks materialize, actual
results may vary materially from those expected. For additional
information on potential factors and other risks that may affect
McDermott’s operation, see McDermott's annual and quarterly filings
with the Securities and Exchange Commission, including its annual
report on Form 10-K.
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