B&W Awarded 90 Million Contract For UK Waste to Energy Power Plant Project

January 26, 2016

(CHARLOTTE, N.C. – January 26, 2016) – Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that its Denmark-based subsidiary, Babcock & Wilcox Vølund A/S, has been awarded a contract for more than $90 million to design, manufacture and build a waste-to-energy power plant near Haresfield, Gloucestershire, United Kingdom.

 

B&W Vølund was awarded the contract by a joint venture of Urbaser and Balfour Beatty.

The facility will treat municipal and commercial and industrial waste to supply 14.5 MW of electricity, enough to power the equivalent of 25,000 homes. B&W Vølund’s scope includes the plant’s combustion system and air-cooled DynaGrate®, fuel handling equipment, steam boiler island, steam turbine-generator, water treatment system, piping, valves and air systems, burners and other plant equipment.

“B&W has installed more than 500 waste-to-energy and biomass units around the world,” said B&W Global Power Division Sr. Vice President Paul Scavuzzo. “We’re grateful that our customer recognized our experience and reputation for quality when they selected us for this important clean energy project.”

Engineering work for the project is underway. The plant is scheduled to come online in 2019.

About B&W
Headquartered in Charlotte, N.C., Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. B&W companies employ approximately 6,000 people around the world. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

Cautionary Statement Regarding Forward Looking Statements
B&W cautions that this release contains forward-looking statements, including statements relating to the scope, timing and value, to the extent value may be viewed as an indicator of future revenues, of the Gloucester contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing the Gloucester contract and adverse modifications to the contract, including termination. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see B&W's filings with the Securities and Exchange Commission, including the information statement on Form 10 and subsequent reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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