Babcock & Wilcox Awarded $9 Million Contract for Cooling System for U.K. Waste-to-Energy Facility

Rhea-AI Summary

Babcock & Wilcox Enterprises, Inc. (B&W) has been awarded a $9 million contract for an air-cooled condenser system in the U.K. for a waste-to-energy facility. This contract highlights the strong market for B&W Environmental's cooling technologies in Europe, particularly for renewable energy projects. The SPIG air-cooled condenser system offers significant environmental benefits and can operate in extreme temperature conditions. This contract is expected to positively impact B&W's stock price.

Positive

• B&W awarded $9 million contract for air-cooled condenser system in the U.K.
• Strong market for B&W Environmental's cooling technologies in Europe

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• None.

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW) announced today that its B&W Environmental business segment has been awarded a contract for approximately $9 million to design and supply an air-cooled condenser system for a waste-to-energy facility in the U.K.

B&W Environmental will supply a SPIG S.p.A. air-cooled condenser system, which provides significant environmental benefits by eliminating cooling water. SPIG air-cooled condensers can be used in nearly any climate and are well-suited for renewable energy applications such as waste-to-energy and biomass-fueled power plants.

“We continue to see a strong market for B&W Environmental’s cooling technologies in Europe, particularly for renewable energy projects,” said Joe Buckler, B&W Senior Vice President, Clean Energy. “We look forward to delivering this cooling system for our customer and contributing to the development of this clean energy facility.”

SPIG high efficiency air-cooled condensers are flexible and customizable to a plant’s layout, and offer low-noise operation and corrosion resistance, and can operate in extreme temperature conditions. Customers also benefit from the equipment’s long operating life, minimized downtime and maximized plant performance and availability.

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 a contract to supply an air-cooled condenser system for a U.K. waste-to-energy plant. 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230830020532/en/

Investor Contact:

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.