B&W Volund Consortium Awarded Contract To Build Waste To Energy Power Plant in Scotland

December 22, 2014

CHARLOTTE, NC

(CHARLOTTE, N.C. – December 22, 2014) – The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that a consortium that includes its Denmark-based subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), has been awarded a $230 million contract to engineer, procure and construct a waste-to-energy (WTE) power plant near Dunbar, Scotland.

Viridor UK selected B&W Vølund and its construction partner, Interserve, to design and build the plant. B&W Vølund’s scope accounts for more than two-thirds of the contract value and includes two WTE boilers, advanced DynaGrate® dynamic fuel combustion system, steam turbine and a dry flue gas cleaning system. The consortium also will test and commission the plant.

“As a renewable fuel, waste-to-energy technology provides numerous benefits for our customers and the communities they serve, such as significantly reduced use of valuable landfill space and compliance with stringent emissions regulations,” said Babcock & Wilcox Power Generation Group, Inc. Vice President and Global Power Division General Manager Paul Scavuzzo. “We’re excited to work with our consortium partner, Interserve, to supply this state-of-the-art power plant to our customer, Viridor.”

The Dunbar plant will be able to process up to 38 tons of municipal waste per hour and will help the Scottish government meet an ambitious target of landfilling zero biodegradable municipal waste by 2021.

The project was booked in the fourth quarter of 2014. Engineering is underway and the plant is scheduled to go online in the fourth quarter of 2017.

About B&W
Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 11,600 people, in addition to joint venture employees located at projects 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 and value, to the extent they can be viewed as an indicator of future revenues, of the Viridor UK contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties in contract execution or billing, as well as modification or termination of the contract. 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 annual report on Form 10-K for the year ended December 31, 2013 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of 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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