AKRON, Ohio–(BUSINESS WIRE)–Babcock & Wilcox Enterprises, Inc. (NYSE: BW) announced that it has acquired Fossil Power Systems, Inc., a leading designer and manufacturer of hydrogen, natural gas and renewable pulp and paper combustion equipment including ignitors, plant controls and safety systems based in Dartmouth, Nova Scotia, Canada. The transaction closed February 1, 2022.
“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,” said Jimmy Morgan, B&W Executive Vice President and Chief Operating Officer. “FPS 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, including our BrightGenTM hydrogen combustion product and BrightLoopTM hydrogen production technology. FPS also is an industry leader in combustion technologies and controls, as well as coal-to-gas and oil-to-gas fuel conversion projects.”
“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 added. “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. FPS also has an installed base of products in more than 70 countries and we look forward to opportunities to further grow this broad aftermarket business. We are pleased to welcome FPS’s strong management team and employees to our team, and work together to expand our portfolio of full-service solutions to our global customers.”
“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.,” Jonas Hackmann, FPS President, said. “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.”
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
About FPS
Founded in 1981, FPS is a Canadian company and a world leader in the design and manufacture of firing equipment and safety systems for the power generation, pulp and paper and petrochemical industries. With products installed in over 70 countries, FPS has proven experience in complete boiler gas conversions, providing gas burners and ignitors, flame scanners, natural gas piping design/fabrication, burner management systems, and combustion control systems. FPS is based in Dartmouth, Nova Scotia, Canada, and has engineering and sales offices in Edmonton, Alberta and Vancouver, BC, as well as many authorized sales distributors worldwide. Since 1987, FPS has maintained an exclusive marketing agreement with Babcock & Wilcox, for all ignition product sales and service in the U.S.
