Babcock [NYSE: BW] Inks IP Option Agreement with NREL

Babcock & Wilcox Enterprises, Inc. [NYSE: BW] declared on Monday that it has inked an Intellectual Property Option Agreement with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL). This agreement will provide a special right to conduct negotiations on a licensing deal that would enable it to market a sophisticated, particle-based thermal energy storage technology currently under development.

In addition to this, B&W has also become a part of NREL’s Duration Addition to electricitY Storage (DAYS) Advanced Research Projects Agency-Energy (ARPA-E) team. The team is presently designing a ground-breaking electric particle heater, pressurized fluidized-bed heat exchanger, a long-term thermal energy storage system that stores energy up to 100 hours, and other technologies to enable power producers to store solar or wind energy to create continuous, steadfast, grid-scale power.

Moreover, it has been revealed that B&W and NREL are also intending to design a prototype heat exchanger that can be scaled up for a pilot demonstration as part of NREL’s Economic Long-Duration Electricity Storage Using Low-Cost Thermal Energy Storage and a High-Efficiency Power Cycle (ENDURING) project.

The tested and recognized pressurized fluidized-bed boiler technology of B&W is a great option for expanding this technology to commercial operations. BW disclosed that its fluidized-bed heat exchanger will be able to create more than 135 megawatts of power for up to 100 hours (four days) from stored clean thermal energy with zero CO2 emissions.