Babcock & Wilcox Thermal to Supply Components for Natural Gas Upgrade at Power Plant in North America

Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will supply equipment to upgrade burners and provide other boiler related equipment for a power plant in North America to allow it to utilize cleaner-burning natural gas as its main fuel. The contract is valued at approximately $3 million.

“As utilities look to perform maintenance and upgrades to their existing fleets, B&W has the depth of knowledge and expertise to supply these components and perform a broad range of services that allow customers to produce power more cleanly and efficiently,” said B&W Chief Operating Officer Jimmy Morgan. “We see continued opportunities in this market as more U.S. plants look to utilize natural gas to generate power.”

B&W will supply natural gas valve trains and other burner related components for the plant’s boiler. Material delivery is scheduled for early 2021.

In addition to steam generation and related auxiliary equipment, B&W’s field engineers can provide expert support for emissions control systems, heat recovery steam generators, and other power plant equipment.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.

About B&W Thermal

Babcock & Wilcox Thermal designs, manufactures and erects steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil & gas, and industrial sectors. Babcock & Wilcox Thermal has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and more.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of a contract to supply components for a natural gas upgrade at a power plant in North America. 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.

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