B&W Environmental Continues Business Growth in Middle East with Contract to Supply Cooling System for Petrochemical Facility

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured a $5 million contract to supply a SPIG S.p.A cooling system for a petrochemical facility in the Middle East. The cooling tower aims to enhance propane dehydrogenation and polypropylene production while minimizing environmental impact through reduced water usage and liquid discharge. COO Jimmy Morgan highlighted the growing demand for environmental technologies in the region, indicating B&W's intent to expand its business within the petrochemical sector.

Positive

• Secured a $5 million contract for a cooling system in the Middle East.
• Focus on environmental technology aligns with industry demand.

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• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental segment has been awarded a contract for approximately $5 million to supply a SPIG S.p.A. cooling system for a petrochemical facility in the Middle East.

The cooling tower will be used to provide cooling for propane dehydrogenation and polypropylene production equipment while reducing environmental impact by conserving water and reducing liquid discharge.

“We are seeing tremendous opportunity to grow B&W’s business in the Middle East,” said Jimmy Morgan, B&W Chief Operating Officer. “There is substantial demand for environmental technologies, products and services for industrial plants, particularly in the petrochemical sector, and technologies for renewable energy generation such as waste-to-energy. We’re actively looking to continue to expand B&W’s business in this region.”

Some benefits of B&W Environmental’s SPIG cooling tower technology include lower water consumption, reduced plume formation, and decreased noise emissions.

About B&W

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

About B&W Environmental

Babcock & Wilcox Environmental offers a full suite of best-in-class emissions control products and solutions for utility and industrial steam generation applications around the world. The segment’s broad experience includes systems for ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control, along with cooling solutions.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of a contract to design and supply a SPIG S.p.A. cooling tower for a petrochemical plant in the Middle East and growth opportunities of its business in the region. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211103005125/en/

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

Source: Babcock & Wilcox Enterprises, Inc.

FAQ

What is the recent contract awarded to Babcock & Wilcox (BW)?

Babcock & Wilcox has been awarded a $5 million contract to supply a SPIG S.p.A cooling system for a petrochemical facility in the Middle East.

How will the cooling system benefit the petrochemical facility?

The cooling system will provide cooling for propane dehydrogenation and polypropylene production while reducing environmental impact by conserving water and minimizing liquid discharge.

What are the expected growth opportunities for Babcock & Wilcox in the Middle East?

Babcock & Wilcox sees substantial demand for environmental technologies and plans to expand its business in the petrochemical sector in the Middle East.

What are the benefits of Babcock & Wilcox's cooling tower technology?

The benefits include lower water consumption, reduced plume formation, and decreased noise emissions.