Babcock & Wilcox Renewable Awarded $11 Million Contract to Provide Technologies for Biomass Boiler Upgrade
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AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has been awarded a contract for more than $11 million to design, manufacture, supply, and install boiler equipment for a biomass boiler in Canada.

B&W Renewable will replace pressure parts for the boiler and upgrade the design of its wood feed and air systems. Babcock & Wilcox Canada Corp. will provide the installation services.

"B&W's pulp and paper and forestry products customers can rely on us for advanced equipment, construction and other services for their renewable biomass-fired plants," said B&W Executive Vice President & Chief Operating Officer Jimmy Morgan. "Meeting energy and environmental goals, maximizing efficiency, and ensuring our customers' equipment continues to operate reliably presents complex challenges, and B&W Renewable has the knowledge and decades of industry experience necessary to meet these needs."

B&W co-developed the world's first Kraft recovery boiler and has continued to improve and deliver a best-in-class suite of products and services for pulp and paper facilities and forestry products plants around the world. The company's biomass-fueled boilers are used to generate heat, process steam, electricity, syngas, and/or bio-oil in a wide range of industrial and utility plants around the world.

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About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.

About B&W Renewable

Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable's leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

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Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of a contract for more than $11 million to supply and install biomass boiler equipment at a facility in Canada. These forward-looking statements are based on management's current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

Contacts

Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | investors@babcock.com

Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | rscornell@babcock.com
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