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Stock Market & Financial Investment News

News Breaks
March 7, 2013
08:37 EDTBWCBabcock & Wilcox signs contract for carbon capture project
Babcock & Wilcox subsidiary Babcock & Wilcox Power Generation Group has reached an agreement with the FutureGen Industrial Alliance to begin initial engineering and preparation for full front-end engineering and design work on the U.S. Department of Energy’s FutureGen 2.0 carbon capture and storage project. B&W’s complete scope of work for FutureGen 2.0 includes the design of the near-zero emissions plant’s oxy-coal combustion system, air quality control systems, boiler, steel and other control systems.
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April 14, 2014
08:40 EDTBWCB&W announces restructuring of Small Modular Reactor program
Babcock & Wilcox is announcing plans to restructure its mPower Small Modular Reactor program to focus on technology development. B&W continues to believe in the strength of the mPower technology, but without the ability to secure significant additional investors or customer Engineering, Procurement and Construction contracts to provide the financial support necessary to develop and deploy mPower reactors, the current development pace will be slowed. B&W notified the U.S. Department of Energy of its plans for reduced spending, indicating it would work with the DOE and other stakeholders during the next one to two months to confirm the best path to develop a mutually agreeable plan including program milestones for continuing the cost-shared industry partnership program. B&W expects to invest up to $15M annually, beginning in 3Q14.

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