Babcock & Wilcox Enterprises, Inc., a global leader in energy, environmental technologies, and services for the power and industrial markets, announced Feb. 2 the acquisition of Fossil Power Systems, Inc.
The deal, which closed Feb. 1, brings Fossil Power Systems, a manufacturer of hydrogen, natural gas, and renewable pulp and paper combustion equipment, into B&W’s portfolio, according to a release published by Business Wire.
“The addition of FPS’s respected products and expertise to our team is another step forward for the strategic growth of B&W’s efficient and environmentally sustainable technologies and solutions,” B&W Executive Vice President and Chief Operating Officer Jimmy Morgan said in the release.
Fossil Power Systems ignitors and control system capabilities are ideally suited to clean energy applications such as firing hydrogen, which complements the hydrogen generation and combustion technologies in B&W’s ClimateBrightTM suite, Morgan added.
The company is also an industry leader in combustion technologies and controls, as well as coal-to-gas and oil-to-gas fuel conversion projects, Morgan said.
Based in Canada, Fossil Power Systems is an international company, as it has installed products in over 70 countries, according to the release.
“FPS is known for its product quality, reliability, and broad range of firing technologies and safety systems that can be customized to customers’ specific requirements and has provided B&W with products for more than three decades,” Morgan said, in the release. “It has grown significantly over the last several years, and we will look to continued growth in these product lines as we leverage our combined expertise and relationships around the world for large-scale fuel conversions, hydrogen opportunities, renewable pulp and paper projects, large institutional heating plants and others.”
Jonas Hackmann, FPS president, said the acquisition is an example of the harmony between the two companies.
“This acquisition is a natural extension of the long relationship our two companies have had for more than 35 years when B&W began serving as the exclusive supplier of FPS ignitors in the U.S.,” he said in the release. "We expect a seamless transition for our customers, suppliers and employees and are excited about working closely with the B&W team to expand our business.”