B&W Renewable Receives Contract for $24 Million Waste-to-Energy Project in Europe

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured a $24 million contract for a new waste-to-energy project in Europe. The project aims to reduce reliance on coal, processing 29 tons of waste per hour through advanced technologies, including the patented DynaGrate combustion system. This initiative will economically generate clean power and diminish net carbon dioxide emissions. The company anticipates growing interest in its solutions for clean energy and emissions reduction, reflecting a positive outlook for future opportunities in the renewable market.

Positive

• Secured a $24 million contract for waste-to-energy project.
• Reduces reliance on coal, promoting cleaner energy generation.
• DynaGrate technology enhances performance with low maintenance costs, increasing operational efficiency.
• Growing global interest in waste-to-energy solutions indicates strong market demand.

Negative

• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has received a $24 million contract for a new-build waste-to-energy project in Europe. B&W announced it had received a limited notice to proceed on the engineering portion of the contract in June 2021.

B&W Renewable will design and supply advanced technologies, including a waste-to-energy combustion system and DynaGrate^® combustion grate, to process recovered solid waste to produce process steam and power while helping eliminate the use of coal as a fuel source. The facility will have two lines, each capable of processing 29 tons of waste per hour.

“By reducing reliance on coal for power generation, B&W Renewable’s waste-to-energy technology will help the facility’s operators reduce net carbon dioxide emissions while economically generating clean power,” said B&W Chief Operating Officer Jimmy Morgan. “Our waste-to-energy technologies also are a powerful solution for combating the potent greenhouse gas methane, which is generated by decomposing waste in landfills.”

“We see tremendous interest in our waste-to-energy solutions from customers throughout the world who are interested in reducing emissions and generating clean energy, and we are actively pursuing opportunities in this market,” Morgan said.

B&W Renewable’s DynaGrate provides excellent performance with low maintenance costs, thanks to a unique, patented combustion grate design. DynaGrate technology can meet the exacting demands of waste-fired plants, which require a high level of accessibility, fuel flexibility, and energy recovery, under environmentally sound conditions.

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 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.

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 a waste-to-energy project at an industrial facility in Europe and its outlook on and intention to pursue additional opportunities in the European market. 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/20211207005596/en/

Investor Contact:

Megan Wilson

Vice President, Corporate Development & Investor Relations

Babcock & Wilcox

330-860-6802 | 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 contract did Babcock & Wilcox recently secure?

Babcock & Wilcox secured a $24 million contract for a waste-to-energy project in Europe.

How does the new project impact coal usage?

The project aims to reduce reliance on coal by processing waste to generate clean power.

What technologies are being implemented in the contract?

The contract involves advanced technologies, including a waste-to-energy combustion system and the DynaGrate combustion grate.

How much waste can the facility process?

The facility is designed to process 29 tons of waste per hour.