Babcock & Wilcox Renewable Receives $38 Million Technology Award for New Waste-to-Energy Facilities in East Asia

Rhea-AI Summary

Babcock & Wilcox (NYSE: BW) has secured an award exceeding $38 million to provide waste-to-energy technologies for municipal projects in East Asia. The B&W Renewable segment will supply its Vølund DynaGrate^® combustion grates and advanced waste-to-energy boilers, capable of processing around 2 million tons of municipal waste annually. CEO Jimmy Morgan emphasized the importance of clean energy solutions in Asia and the company's commitment to enhancing renewable energy offerings in the region, aligning with their growth strategy.

Positive

• Award of more than $38 million enhances revenue prospects.
• Advanced waste-to-energy technologies can process 2 million tons of waste annually.
• Strategic expansion into the growing Asia-Pacific renewable energy market.

Negative

• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has received an award for more than $38 million to supply waste-to-energy technologies for municipal waste projects in East Asia.

B&W Renewable will design, manufacture and supply its Vølund DynaGrate^® combustion grates and provide technical site services, in addition to designs for the plants’ fuel-feeding and ash-removal equipment. B&W also will supply a highly efficient, advanced waste-to-energy boiler under a technology license. The facilities will be capable of processing approximately 2 million tons of municipal waste annually.

“B&W is focused on accelerating our growth in the Asia-Pacific region, particularly for our renewable energy and environmental businesses,” said Jimmy Morgan, B&W Chief Operating Officer. “These types of projects demonstrate the tremendous opportunity for clean, renewable energy throughout Asia. Our advanced waste-to-energy technologies help customers provide reliable, baseload power, while also protecting the environment. These highly efficient plants reduce reliance on landfills and combat climate change caused by significant methane emissions from waste that would otherwise end up in those landfills. B&W also offers state-of-the-art carbon capture technologies that would allow customers to capture CO₂ from waste-to-energy facilities, if they choose, and eliminate greenhouse gas emissions entirely.”

“As Asia’s need for electricity grows and urban centers look for more efficient and climate-conscious ways to deal with municipal waste, we expect waste-to-energy to play an increasing and important role in the region’s energy mix,” Morgan said. “This directly aligns with our organic growth strategy and operational expansion within the Asia-Pacific region.”

B&W Renewable’s waste-to-energy technologies are a vital part of a strong and sustainable waste management chain and are complementary to recycling.

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 an award to supply and license waste-to-energy technologies for waste-to-energy facilities in East Asia. 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/20210930005451/en/

Investor Contact:

Megan Wilson

Vice President, Corporate Development & 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 recent award announced by Babcock & Wilcox (BW)?

Babcock & Wilcox announced a $38 million award to supply waste-to-energy technologies for municipal projects in East Asia.

What technologies will Babcock & Wilcox provide in East Asia?

They will supply Vølund DynaGrate® combustion grates and advanced waste-to-energy boilers, among other technical services.

How much municipal waste can the facilities in East Asia process annually?

The facilities are designed to process approximately 2 million tons of municipal waste each year.

What is Babcock & Wilcox's growth strategy in Asia?

Babcock & Wilcox aims to accelerate growth in the Asia-Pacific region, focusing on renewable energy and environmental technologies.