Babcock Power Services, Riley Power, and IHI Corporation Announce Strategic Collaboration to Accelerate Low-Carbon Boiler Fuel Conversions [Yahoo! Finance]
IHI CORP UNSP/ADR (IHICY)
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Source: Yahoo! Finance
a strategic collaboration agreement to perform low-carbon fuel conversion and co-firing retrofits for power plant boilers worldwide. Mike LeClair, President & CEO Babcock Power Inc. and Shinichi Takano, Executive Officer, Vice President of Resources, Energy & Environment Business Area, IHI Corporation. BPS and RPI, subsidiaries of Babcock Power Inc. headquartered in Massachusetts, U.S.A., will collaborate with IHI, headquartered in Tokyo, Japan, to leverage their combined technological strengths, expertise, and experience. By working together, the companies aim to accelerate the conversion of existing power plant boilers to lower-carbon fuels, with a particular focus on ammonia. "This strategic collaboration with IHI represents an important step forward in helping power producers reduce carbon emissions while maximizing the value of their existing assets," said Wade Shephard, President and CEO, BPS and RPI. "By combining BPS and RPI's deep experience in retrofitting boilers with
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