Babcock & Wilcox Canada Awarded Second Portion of $20 Million Boiler Refurbishment Project for Canadian Pulp & Paper Mill

Key Terms

superheater technical

A superheater is a device in a steam boiler or power plant that heats steam beyond its boiling temperature so the steam carries more energy and stays dry rather than condensing. Think of it like heating a cup of steam hotter so it can push a turbine harder and more efficiently. Investors care because superheaters affect a plant’s fuel efficiency, output, maintenance needs and emissions profile, all of which influence operating costs and cash flow.

economizer technical

An economizer is a piece of equipment that captures waste heat or energy from a system (such as a boiler, furnace, or HVAC unit) and reuses it to reduce fuel or electricity needs. For investors, it matters because using an economizer lowers operating costs, boosts profit margins, and can reduce capital spent on fuel or cooling, much like recovering change from pockets to avoid buying something new.

tubular air heater technical

A tubular air heater is an industrial furnace that warms air by passing it over or through heated metal tubes, similar to how a home furnace blows air over hot coils but built for factories and processing plants. Investors care because its efficiency, fuel or energy type, maintenance needs and emissions affect operating costs, production reliability and regulatory risk, all of which can influence a company’s margins and capital spending.

overfire air system technical

An overfire air system is a set of pipes and nozzles that injects extra air above the main flame in an industrial furnace or boiler so unburned fuel finishes combusting higher up. Think of it like blowing gently over a campfire to make sure embers stop smoking; it helps reduce soot and pollutant emissions and can improve fuel efficiency and compliance with environmental rules. Investors care because it affects operating costs, regulatory risk, and potential capital spending.

steam turbine technical

A steam turbine is a machine that uses high-pressure steam to spin blades on a shaft, converting heat from boiling water into rotating power to drive electrical generators or heavy machinery—like a windmill turned by steam instead of wind. Investors care because a turbine’s efficiency, reliability and upkeep affect how much energy a plant produces, the cost to operate, capital spending needs and emissions exposure, all of which influence profits and risk.

decarbonization solutions technical

Decarbonization solutions are technologies, practices and services that help organizations cut the carbon dioxide and other greenhouse gas emissions tied to their operations, products or supply chains—for example by switching to low-carbon energy, improving efficiency, capturing emissions, or substituting materials. They matter to investors because they can lower regulatory and climate-related risks, reduce long-term costs, open new markets or revenue streams, and affect a company’s future valuation and access to capital, like buying insurance against becoming obsolete as rules and markets shift.

• B&W Canada receives $10 million USD contract for equipment installation following separate $10 million USD equipment design and supply contract awarded earlier in 2025

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox (B&W) (NYSE: BW) announced today that its Canadian subsidiary, Babcock & Wilcox Canada Corp. (B&W Canada), has been awarded a more than $10 million USD contract by Irving Pulp & Paper Limited to install boiler equipment as part of a $20 million project to upgrade a B&W Canada-manufactured Stirling^® power boiler at the Irving Pulp & Paper Mill in Saint John, New Brunswick, Canada.

B&W Canada supplied the boiler equipment – including a superheater, lower furnace water walls, overfire air system, economizer and tubular air heater – under a separate $10 million USD contract awarded earlier in 2025.

“We appreciate the level of trust that Irving Pulp & Paper has shown in us over the years, and we are excited to provide our expertise for this boiler upgrade project,” said Mike Hidas, B&W Canada President and General Manager. “B&W Canada has many decades of experience providing equipment and services to the pulp and paper industry and we are proud of the dedication and capabilities of our highly skilled employees. This new award is a great complement to our $10 million design and supply award in Q1 2025, and we’re pleased to once again serve this important customer.”

Installation will take place during the mill’s Spring 2026 outage. When complete, the upgrade will allow the boiler to achieve greater temperatures needed to drive a steam turbine planned for installation in the future.

The advanced solutions provided by B&W and B&W Canada are used in pulp and paper mills worldwide, and include steam generation equipment, boiler cleaning, controls and monitoring systems, emissions control, cooling systems and decarbonization solutions.

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 the award of a boiler refurbishment contract and equipment installation for a project at a pulp and paper facility in Canada. 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/20251218841310/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.