B&W Subsidiary Awarded $40 Million Contract to Design Boiler for World’s Largest Waste Power Plant in China

November 29, 2016

(CHARLOTTE, N.C. – November 29, 2016) – Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that its Denmark-based subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), has been awarded a contract for nearly $40 million to design a waste-to-energy boiler for Shenzhen Energy Environmental Engineering Co. Ltd. in Shenzhen, Guangdong Province, China.

When complete, the plant will provide a long-term, proven waste management solution for the region while generating clean, renewable energy. Fueled by up to 5,600 tons of municipal waste a day, the plant will be the largest waste-to-energy facility in the world. B&W Vølund will supply equipment, including a DynaGrate® combustion grate system, hydraulics, burners and other boiler components for the 168 megawatt plant. B&W Vølund will also provide construction advisors for the combined heat and power project.

“The demand for reliable and clean renewable energy is growing in China and throughout much of Asia,” said Paul Scavuzzo, senior vice president, B&W Renewable. “We thank Shenzhen Energy for choosing B&W Vølund to provide state-of-the art technology for this plant.”

The circular Shenzhen plant will be built with sustainability in mind and will incorporate rooftop solar panels, a visitor education center and an observation platform into its architectural design. It also represents the first time B&W Vølund has deployed its advanced DynaGrate® technology in China.

The plant is scheduled to begin commercial operation in mid-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 5,700 people around the world. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com

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 Shenzhen contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing the Shenzhen 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 our most recent annual report on Form 10-K and subsequent quarterly 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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