Babcock & Wilcox Awarded Contracts Totaling $14 Million to Provide Highly Efficient Cooling Systems for UK Waste-to-Energy Plants

January 30, 2023 06:30 AM Eastern Standard Time AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental business segment has been awarded contracts totaling more than $14 million to design and supply highly efficient dry cooling systems for waste-to-energy plants in the UK.

B&W Environmental will supply SPIG air-cooled condensers for the projects, which provide significant environmental benefits and are well-suited for renewable energy applications such as waste-to-energy and biomass-fueled power plants. Dry cooling systems using air-cooled condensers can be used in nearly any climate and benefit the environment by eliminating cooling water discharge.

'The world continues to move toward waste-to-energy, biomass and other renewables to provide environmentally friendly and efficient sources of energy,' said Executive Vice President and Chief Operating Officer Jimmy Morgan. 'We are pleased to work with power producers and industry to provide an extensive range of clean power production technologies including B&W Environmental cooling, emissions control systems and equipment.'

'The UK waste-to-energy and biomass power market continues to be strong and we anticipate more opportunities for B&W Environmental's technologies to make an important contribution in this market in the future,' Morgan said.

B&W Environmental offers design, engineering, manufacture and installation of dry cooling systems using only ambient air without any need for water, and its technologies are suitable for both renewable and thermal power plants.

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 contracts to design and supply highly-efficient cooling systems for waste-to-energy plants in the 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.