Berlinwasser Holdings (BWH), the holding company for the Berlinwasser Group, Berlin, said Tuesday it's selling its 100% interest in the Sekundarrohstoff Verwetungszentrum Schwarze Pumpe GMBH (SVZ) recycling project and related gasification technology to Global Energy Inc. of Cincinnati.
Included in the sale are BWH's gasification-based cogeneration facility in Schwarze Pumpe, Germany, as well as the rights to SVZ's proprietary gasification technology, including its related patents. Terms of the sale were not disclosed.
The sale is part of BWH's plans to pursue strategic alternatives for its gasification business.
The transaction is contingent on customary closing conditions, including director and regulatory approvals.
Global Energy said the complementary technologies and market strategies of SVZ and Global Energy will advance Global Energy's objective for worldwide market development of gasification technology facilities with multifuel and coproduction capabilities.
Thomas Mecke, chairman of BWH, said the technology is very promising for converting many carbon-based fuels into a clean synthesis gas that can be used to generate power or produce chemical feedstocks or transportation fuels.