Babcock & Wilcox Renewable Awarded $22 Million Waste-to-Energy Technology Contract to Support Customer’s Clean Energy Transition

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured a $22 million contract to provide advanced waste-to-energy technology in Asia. This initiative aims to reduce coal dependency and minimize landfill waste by processing 160,000 tons of industrial waste annually through a 440-ton-per-day boiler. The company is focusing on decarbonization and waste management solutions, aligning with global sustainability efforts. The Asia-Pacific segment is expected to continue its growth with increasing opportunities for renewable energy technologies.

Positive

• Secured a $22 million contract for waste-to-energy technology.
• Will process 160,000 tons of industrial waste annually.
• Focus on decarbonization and reducing landfill waste.
• Growth opportunities identified in the Asia-Pacific region.

Negative

• None.

- Plant will help reduce methane emisssions from landfilled waste

- Growth and expansion of B&W’s Asia-Pacific business continues

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today its B&W Renewable business segment has been awarded a contract for approximately $22 million to design and supply advanced waste-to-energy technology to help a power producer in Asia reduce its reliance on coal and decrease the amount of waste sent to landfills.

B&W Renewable will design and supply a 440-ton-per-day waste-to-energy boiler, DynaGrate^® combustion grate and other combustion equipment, including burners and sootblowers. The plant will generate cleaner electricity for the community while processing approximately 160,000 tons of industrial waste annually.

“Decarbonization efforts are gaining momentum worldwide, especially in Asia, while the need to responsibly and sustainably manage industrial and municipal waste continues to grow,” said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. “Waste-to-energy technologies are an ideal solution to produce renewable, baseload power while reducing greenhouse gas emissions and reliance on landfills.”

“Our business in the Asia-Pacific region continues to grow, with significant opportunities for B&W’s renewable, environmental and thermal technologies,” said Nick Carter, Managing Director of B&W’s Asia-Pacific region. “We look forward to continuing to provide solutions to help our customers throughout the region with their clean energy transition.”

B&W has more than 150 years of experience in designing, supplying and servicing some of the world’s cleanest, most efficient energy systems. B&W Renewable’s capabilities, including the state-of-the-art Vølund™ technology, developed and improved over the last 80 years, has been used in more than 500 applications worldwide.

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 signing of a contract to design and supply waste-to-energy technologies for a plant in Asia, as well as growth opportunities 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/20220214005255/en/

Investor Contact:

Megan Wilson

Chief Strategy Officer and Sr. Vice President, Corporate Development

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

FAQ

What contract has Babcock & Wilcox secured?

Babcock & Wilcox has secured a $22 million contract to provide waste-to-energy technology in Asia.

How much industrial waste will be processed by Babcock & Wilcox's new technology?

The new technology will process approximately 160,000 tons of industrial waste annually.

What is the focus of Babcock & Wilcox's new project?

The focus is on decarbonization and reducing reliance on coal while minimizing landfill waste.

What are the growth opportunities for Babcock & Wilcox in Asia?

Babcock & Wilcox is expecting significant growth opportunities in renewable energy technologies in the Asia-Pacific region.