Babcock & Wilcox Renewable Awarded $58 Million Contract to Supply Advanced Waste-to-Energy Technology for Power Plant in Europe

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured a $58 million contract to supply technology for a waste-to-energy power plant in Europe. This initiative will divert 435,000 tons of waste from landfills, reducing methane emissions while providing renewable energy for approximately 95,000 homes. The project highlights B&W Renewable's DynaGrate technology, known for its efficiency and low emissions. The company's strategy focuses on expanding renewable energy solutions as global efforts to decrease reliance on fossil fuels increase.

Positive

• Secured a $58 million contract for a waste-to-energy plant in Europe.
• Will divert 435,000 tons of non-recyclable waste from landfills annually.
• Will provide renewable energy equivalent for 95,000 homes.

Negative

• None.

- B&W Renewable technology will be used to generate power for the equivalent of 95,000 homes and significantly reduce landfill methane emissions

- Plant will divert 435,000 tons of non-recyclable waste from landfills annually

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has been awarded a contract for approximately $58 million to design and supply an advanced waste-to-energy boiler, combustion grate and other equipment for a waste-to-energy power plant in Europe.

B&W Renewable’s technologies, including its advanced DynaGrate^® combustion grate, will help the plant operator divert 435,000 tons of non-recyclable waste from landfills, reducing methane emissions and providing renewable energy for the equivalent of 95,000 homes. The DynaGrate is ideally suited for waste-to-energy applications and features a high level of fuel flexibility, energy recovery and combustion efficiency, while also reducing emissions by destroying dioxins and furans, minimizing formation of nitrogen oxides and limiting unburned carbon.

“Diverting hundreds of thousands of tons of waste each year will significantly reduce the environmental impact of landfilled waste in this region, including from runoff and methane emissions,” said Jimmy Morgan, B&W Chief Operating Officer. “Waste-to-energy, biomass and renewable technologies are an important part of B&W’s business growth strategy, and we’re pursuing other significant renewable energy projects around the world.”

As the world looks to reduce greenhouse gas emissions and reliance on fossil fuels, waste-to-energy technology can play a key role in those efforts while providing renewable, baseload power. In Europe alone, 50 million tons of waste is converted into valuable energy, supplying 27 million residents with power and substantially reducing the need for landfills.

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 www.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 more than $58 million to design and supply a waste-to-energy boiler, combustion grate, ash-handling system and other equipment for a waste-to-energy plant in Europe, as well as the corresponding reduction in the environmental impact of landfilled waste in this 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/20211117005519/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 has Babcock & Wilcox recently secured?

Babcock & Wilcox secured a $58 million contract to supply technology for a waste-to-energy power plant in Europe.

How much waste will be diverted from landfills by this project?

The project will divert 435,000 tons of non-recyclable waste from landfills annually.

How many homes can benefit from the renewable energy generated?

The renewable energy produced will be enough to power approximately 95,000 homes.

What is the significance of Babcock & Wilcox's DynaGrate technology?

The DynaGrate technology is designed for waste-to-energy applications, offering high fuel flexibility, energy recovery, and low emissions.

How does waste-to-energy technology impact greenhouse gas emissions?

Waste-to-energy technology helps reduce greenhouse gas emissions by diverting waste from landfills and providing renewable energy.