There’s the need for more engineering talent in our decarbonization and Brightloop will definitely continue to expand — and that’s an area that we’ve got to keep an eye out on as we work through all these just to make sure we keep some discipline on the specific projects that we try to go after. But we — it won’t be material, but I do think we’ll start to see some revenue flow from various Brightloop and other activities. I know for sure, we’ll see some revenue flow from Climate Bright overall and some of the decarbonization activities we are today, not necessarily material, but we’re probably doing double the amount of FEED studies today, and these are paid FEED studies on some of the decarbonization projects. Some of those are in the U.S., Canada, one or two in Northern Europe.
So the amount of activity is increasing, and we fully anticipate one or two of those will turn into full projects over the course of the next several months. Obviously, for sure, this year, that’s at least we’re confident that way and working towards that. So we’re excited about those. And some of those are in more detail and negotiation discussions on some of the Saltbright and other decarbonization technologies we have now. And so we’re hopeful that one or two of those gets announced as a full project over the next several months.
Rob Brown: Okay. Great. And on kind of the sort of the incremental, I guess, activity or thoughts around the need for power generation going forward here, how does that sort of macro trend show up in your business? Do you — where do you sort of — should you see it first? And I guess, how does that could impact you?
Kenny Young: Well, we’re seeing global. So from a parts and services standpoint, it’s very fascinating because we are seeing increased demand for our parts and services business, and we anticipate that going on for a considerable amount of time. It’s — we’re not really at an inflection point, but we’re at a demand point in the U.S. where a lot of the fossil fuel plants need to increase efficiency and also environmental aspects around those plants, and we continue to provide more parts and services and upgrades and other enhancements for those. The other aspect, as I mentioned, obviously, we talked about earlier is on converting some of those plants either into natural gas plants or in the case of one or two of our projects that we’re in discussions on converting those into biomass with carbon sequestration technologies associated with that.
But the base load — in the United States, baseload generation is continuing to increase. And so there is pressure on the grid and the infrastructure here in the U.S. to continue to provide a strong baseload generation. And we’re seeing, I think, from our customers in how we’re positioned. I think — we’re also seeing a benefit from having those strong relationships and being in a better position because we’ve acquired some of the technologies related to these gas conversion opportunities, and it’s put us in a better position there. But it’s kind of unique because we are seeing both sides of that, right? We’re seeing the need to have better baseload generation and the efficiencies of those, which is stronger parts and services here in the U.S., but also elsewhere around the world.
But we’re seeing, I would say, increased opportunities and upgrade projects because of the need to drive some of these newer conversions that are happening here in the U.S. And I think that trend will at least continue for the next four to eight, six years for the foreseeable future. And obviously, we’ll see where it goes from there. But it’s kind of a unique time for us in that area as well, too, right now.
Rob Brown: Great, thank you. I’ll turn it over.
Operator: Our next question comes from Alex Rygiel with B. Riley. Please proceed.
Alex Rygiel: Good evening Kenny and Lou how you doing?
Kenny Young: How are you? Good, thanks.
Alex Rygiel: Excellent. A quick question here. As it relates to that $9 billion of pipeline, can you talk a little bit about maybe some of the largest opportunities geographically where they’re positioned or which technologies or whatnot that make up the largest component of that?
Kenny Young: Sure. Yes, I can give you some color. First of all, the pipeline is — we look at that as a pipeline of opportunities that we think would book over the next three years on it, not necessarily revenue recognition over three years, but book over the next three years. So those are identified projects. As you can see on the chart, there is a strong impact to North America on a number of different projects that we have today. Those range anywhere — and I kind of referenced it a little bit in the remarks, but some of those projects can be up at $300 million, $400 million. And there’s a few of those. There are several in that $50 million to $150 million range depending on the size. Some of those are conversions and some of those are upgrades to either increased power generation or some of those are applying new carbon capture solutions and systems, which are good solid projects for us.
Those are — when you look at a coal plant, if you’re adding or any kind of planet adding a post-combustion element to us to that plant, it’s — those are sizable capital dollars that the utility is investing in. Obviously, they’re looking for a return, either 45Q or otherwise. But the range of those projects are pretty solid for us. We’re seeing also, at the same time, a number of projects that are in the — even the $10 million to $15 million range. And across our thermal segment, even in the U.S., we’re seeing larger opportunities in renewable with some of the biomass projects that we’ve got underway. I mentioned that we’re in discussions on a potential coal-to-biomass conversion that we’re in discussions on. So we’re seeing sizable projects in the U.S. We’re also seeing waste energy projects in the U.S. that are emerging in different areas as there’s new EPA requirements around a number of the waste to energy plants.
