Hawker 900XP pilot reported engine failure during climb out and return to departure airport.

Narrative

Aircraft X departed ZZZ. Initial step climb was uneventful; with level offs at 6;000 Ft MSL; 9;000 Ft MSL; and 11;000 feet MSL. Climbing through 15;000 feet MSL an audible bang was heard from the number 1 engine; followed by a reduction in thrust and a yaw to the left. We stopped the climb at 15;000 ft MSL to troubleshoot; and advise ATC of a potential issue. During troubleshoot; there was no control of the engine and ITT (Interstage Turbine Temperature) spiked to 930 with an N1 of approximately 41% with no thrust. Troubleshooting resulted in no regain of engine control.Given the audible bang and lack of engine control; we elected to run the Engine Shutdown or Failure in Flight checklist; and requested priority handling. Given information from ATC; we concluded ZZZ1 was the best option to divert to with adequate runway lengths; emergency equipment; and weather. Communicated with ATC to complete the diversion and communicated with passengers. After completion of the Engine Shutdown or Failure in Flight checklist and diverting; we performed the One-Engine Inoperative Approach and Landing checklist. We received priority handling into ZZZ1; and used CRM to the fullest extent possible. Landed runway XXR; exited at 1 and stopped on 2 to allow emergency equipment to inspect the aircraft. After inspection; no external damage was observed and we were released to taxi. We continued our taxi to the ramp. Post flight inspection revealed no visible external damage.Cause: Engine Seizure/failureSuggestions: This was an event that occurred without prior indications of an impending failure.