Babcock & Wilcox Awarded $24 Million Contract for Package Boilers and Environmental Equipment for North American Petroleum Refinery

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured a contract exceeding $24 million to provide two industrial package boilers and advanced emissions control systems for a petroleum refinery in North America. The B&W Thermal segment will design and supply the boilers and auxiliary equipment, while the B&W Environmental division will deliver select catalytic reduction systems to manage nitrogen oxide emissions. This contract highlights the strong demand for reliable steam generation and emissions technologies in the oil and gas sector.

Positive

• Contract valued over $24 million secured for two industrial package boilers.
• Strong demand for advanced emissions control technologies noted.
• B&W Thermal has a proven track record with over 5,000 boilers supplied worldwide.

Negative

• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal and B&W Environmental business segments have been awarded a contract for more than $24 million to supply two industrial package boilers, auxiliary equipment and advanced emissions control technologies for a petroleum refinery in North America.

“Demand for reliable steam generation and advanced environmental technologies for the oil and gas industry is robust,” said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. “Our industrial package boilers and emissions control solutions provide our customers with flexible options and features to meet the unique demands and challenges of the petroleum refining business.”

B&W Thermal will design and supply two package boilers, burners, economizers and other equipment for the project. B&W Environmental also will supply two select catalytic reduction (SCR) systems to control nitrogen oxide (NO_x) emissions.

B&W Thermal has supplied more than 5,000 water-tube package and industrial boilers worldwide and has an established reputation for reliability and proven performance. The company’s industrial package boilers offer reliable power with low emissions, low auxiliary power requirements, simple operation, low maintenance and can be tailored for a variety of fuel options, including natural gas. B&W Environmental offers extensive experience, advanced technology and full-scope capabilities, and the emissions control solutions it provides are used by some of the cleanest and most efficient utilities and industrial facilities in operation around the world.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. 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.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to a contract to supply two industrial package boilers, auxiliary equipment and environmental equipment for a petroleum refinery in North America. 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/20221117005141/en/

Investor Contact:

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 value of the contract awarded to Babcock & Wilcox (BW)?

The contract awarded to Babcock & Wilcox is valued at over $24 million.

What will Babcock & Wilcox supply under the new contract?

Babcock & Wilcox will supply two industrial package boilers, auxiliary equipment, and advanced emissions control technologies.

Which business segments of Babcock & Wilcox are involved in the new contract?

The B&W Thermal and B&W Environmental business segments are involved in the new contract.

Where is the petroleum refinery located that is receiving Babcock & Wilcox's products?

The petroleum refinery is located in North America.

What technologies will Babcock & Wilcox provide for emissions control?

Babcock & Wilcox will provide select catalytic reduction systems to control nitrogen oxide emissions.