Babcock & Wilcox Enterprises is shoring up its finances as it continues to invest in clean and renewable energy ventures and technology.
The Akron company recently created a new four-year, $125 million revolving credit agreement with PNC Bank and MSD Partners.
The agreement “ demonstrates the strength of our company going forward,” Kenneth Young, B&W chairman and chief executive officer, said in a news release. “With financing in place through June 2025, and long-term availability to support multi-year projects, we have a new start to build on our strong global growth strategy, continue to invest in our renewable, environmental, thermal and decarbonization technologies and evaluate potential acquisitions."