Babcock & Wilcox Awarded $65 Million Contract to Provide Engineering and Advanced Technology for UK Waste-to-Energy Plant

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured a contract worth approximately $65 million from Lostock Sustainable Energy Plant Ltd. to provide advanced engineering services for the Lostock Sustainable Energy plant in Manchester, UK. This facility will convert residual waste into over 60 megawatts of energy, processing around 600,000 tonnes of waste annually, making it one of the largest waste-to-energy plants in the UK. The project aims to support decarbonization efforts by utilizing technologies such as GMAB™ flue gas treatment and SPIG™ air-cooled condensers. Commercial operations at the plant are scheduled to commence in late 2025.

Positive

• Secured a $65 million contract for engineering services.
• Project set to generate over 60 megawatts of energy from waste.
• Facility will process approximately 600,000 tonnes of waste annually.

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• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental and B&W Renewable business segments have been awarded a contract for approximately $65 million by Lostock Sustainable Energy Plant Ltd. (LSEP) to provide engineering services and advanced technologies for the LSEP Sustainable Energy plant located at Lostock Gralam near Manchester, UK. LSEP is a joint venture formed by Copenhagen Infrastructure Partners and FCC Environment (UK).

B&W’s global operations will provide technologies and services for the project, including GMAB™ flue gas treatment technologies, SPIG™ air-cooled condensers, Diamond Power^® boiler cleaning equipment and engineering in both B&W’s Denmark and U.S. offices.

The Lostock plant will utilize residual waste to generate 60+ megawatts of energy for residents and businesses. Additionally, this plant will be one of the largest operational waste-to-energy plants in the UK processing around 600,000 tonnes of waste annually. The site of the plant was previously the site of a decommissioned coal-fired power plant.

“We thank LSEP for choosing B&W for this key clean energy project,” said Executive Vice President and Chief Operating Officer Jimmy Morgan. “B&W’s waste-to-energy, environmental and other technologies will play a critical role in decarbonization and the transition to renewable energy, and we’re pleased to contribute our expertise to the Lostock project.”

“Waste-to-energy is also a powerful solution for eliminating emissions of the potent greenhouse gas methane from landfills, using waste that would otherwise decompose and create methane to produce clean, renewable power,” Morgan said.

A spokesperson for LSEP said, “We thank Babcock & Wilcox for supporting us with the delivery of this project and look forward to working with the B&W team. This appointment is a key milestone on our journey to manage the delivery of the LSEP plant and provides the certainty that will help us to unlock the significant investment, job creation and energy security benefits of the project.”

With hundreds of units in operation around the world, B&W Renewable has many decades of experience and extensive expertise with technologies that generate steam and power from municipal and industrial waste fuels.

B&W Environmental’s GMAB flue gas cleaning and flue gas condensation technologies are applicable for a wide range of applications, including waste-to-energy, co-incineration and hazardous waste incineration plants. The company’s SPIG dry cooling technologies can be tailored for many applications and are a sustainable and environmentally conscious cooling solution, eliminating water discharge and protecting the environment. B&W’s Diamond Power boiler cleaning systems are available in steam/air, high pressure water, and dual-media air heater cleaning configurations and are ideally suited for renewable and waste-to-energy applications.

The Lostock waste-to-energy plant is scheduled to begin commercial operation in late 2025.

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 provide engineering services and advanced technologies for the LSEP Sustainable Energy plant located near Manchester, UK. 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/20230124005494/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 by Lostock Sustainable Energy Plant Ltd.?

The contract is worth approximately $65 million.

When is the Lostock waste-to-energy plant scheduled to begin commercial operations?

The plant is scheduled to begin operations in late 2025.

What technologies will Babcock & Wilcox provide for the Lostock project?

Babcock & Wilcox will provide GMAB™ flue gas treatment technologies and SPIG™ air-cooled condensers, among others.

How much waste will the Lostock plant process annually?

The Lostock plant will process around 600,000 tonnes of waste annually.

What is the expected energy generation capacity of the Lostock plant?

The plant is expected to generate over 60 megawatts of energy.