Babcock & Wilcox, NREL Sign Exclusive IP Option Agreement for Advanced, Renewable Energy Storage Technology
Babcock & Wilcox ("B&W") (NYSE: BW) and the U.S. Department of Energys National Renewable Energy Laboratory (NREL) have signed an Intellectual Property Option Agreement that gives B&W field-limited exclusive rights to negotiate a licensing agreement that would allow it to market an advanced, particle-based thermal energy storage technology currently in development.
- Babcock & Wilcox ("B&W") (NYSE: BW) and the U.S. Department of Energys National Renewable Energy Laboratory (NREL) have signed an Intellectual Property Option Agreement that gives B&W field-limited exclusive rights to negotiate a licensing agreement that would allow it to market an advanced, particle-based thermal energy storage technology currently in development.
- B&Ws proven and established pressurized fluidized-bed boiler technology is an ideal choice for advancing this technology to commercial operations.
- High-capacity, long-term energy storage is essential for renewable energy sources such as solar and wind power to become widespread, baseload power options, said B&W Chairman and Chief Executive Officer Kenny Young.
- B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an intellectual property option agreement between B&W and U.S. Department of Energys National Renewable Energy Laboratory (NREL) that gives B&W exclusive rights to negotiate a licensing agreement and to market an advanced, particle-based thermal energy storage technology currently in development.