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B&W Subsidiary Awarded $40 Million Contract For Denmark Waste-to-Energy Plant
The Babcock & Wilcox Company (B&W) (NYSE: BWC) announced today that its Denmark-based subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), was awarded a contract worth approximately $40 million to engineer and supply steam generating equipment, ash handling systems and combustion control systems for I/S Nordforbrænding's municipal solid waste-to-energy power plant located north of Copenhagen, Denmark.
B&W Vølund will supply waste-firing equipment, including an advanced DynaGrate® combustion grate for the plant's steam generator. The new line will burn 80,000 tons of waste per year.
B&W Vølund's DynaGrate is one of the most advanced combustion grates in the marketplace. It handles all types of waste and features unique movement that allows for excellent burnout of waste fuel.
"B&W Vølund appreciates the opportunity to supply this equipment to I/S Nordforbrænding and serve five local municipalities," said J. Randall Data, President and Chief Operating Officer, Babcock & Wilcox Power Generation Group, Inc. "We're eager to begin work on this project and demonstrate our industry-leading, waste-to-energy technology and expertise."
Start-up of the completed plant is anticipated in the spring of 2016.
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 14,000 people, in addition to approximately 10,400 joint venture employees. 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 engineer and supply contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing contracts and adverse modifications to contracts in backlog, 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 its annual reports on Form 10-K and 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 hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.