Babcock & Wilcox Growth Continues in Middle East & Africa with $18 Million Environmental Upgrade Contract for Power Plant

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured an $18 million contract from a power plant in Africa to upgrade 24 electrostatic precipitators (ESPs) aimed at significantly reducing particulate emissions. The company will provide design, engineering, and manufacturing support, along with technical assistance during construction and commissioning. B&W's ongoing expansion in the Middle East and Africa regions aligns with the global transition to cleaner energy solutions. The firm emphasizes its capabilities in advanced environmental technologies.

Positive

• Awarded an $18 million contract to upgrade 24 electrostatic precipitators, enhancing capability to reduce emissions.
• Expansion of business operations significantly in the Middle East and Africa regions.
• Strong positioning in the clean energy transition with comprehensive environmental and decarbonization technologies.

Negative

• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today its B&W Environmental business segment has been awarded a contract for approximately $18 million to provide advanced environmental equipment to reduce emissions for a power plant in Africa.

B&W Environmental will design, engineer and provide manufacturing support to upgrade 24 electrostatic precipitators (ESPs), which will be used to significantly reduce particulate emissions. B&W Environmental will also provide technical support during construction and commissioning.

“B&W is growing its business significantly in the Middle East and Africa region,” said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. “We are working closely with utilities and industrial customers across these areas to upgrade and improve their power generation and environmental equipment to help them produce cleaner, more efficient energy.”

“The transition to clean energy is picking up pace worldwide, and B&W – with a full suite of environmental, decarbonization, renewable and power generation technologies – is well-positioned to lead this transition,” Morgan said.

B&W Environmental has extensive experience with both dry and wet ESP technologies, and has installations in a wide range of applications, including power generation, waste-to-energy, cement production, chemical manufacturing, oil & gas, pulp & paper, steel manufacturing and more.

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 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 awarding of a contract to upgrade electrostatic precipitators for a power plant in Africa and relating to the growth of its business in the Middle East and Africa 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/20220802005351/en/

Investor Contact:

B&W 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 significance of the $18 million contract awarded to Babcock & Wilcox (BW)?

The $18 million contract signifies Babcock & Wilcox's commitment to providing advanced environmental equipment for emission reduction in Africa, indicating strong demand for cleaner energy solutions.

How many electrostatic precipitators (ESPs) will Babcock & Wilcox be upgrading in Africa?

Babcock & Wilcox will be upgrading 24 electrostatic precipitators (ESPs) as part of the contract to reduce particulate emissions.

In which regions is Babcock & Wilcox (BW) expanding its business?

Babcock & Wilcox is experiencing significant business growth in the Middle East and Africa region.

What technologies is Babcock & Wilcox leveraging for the environmental contract?

Babcock & Wilcox is leveraging advanced electrostatic precipitator technologies designed to significantly reduce particulate emissions.

What does the recent press release indicate about Babcock & Wilcox's future direction?

The press release indicates that Babcock & Wilcox is well-positioned to lead in the transition to clean energy through its suite of environmental, decarbonization, and power generation technologies.