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B&W Thermal Awarded $20 Million Technology Replacement Contract for North America Power Plant

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Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will design, supply and install replacement thermal technologies for a power plant in North America. The contract value is more than $20 million.

B&W Thermal will design, fabricate and supply a replacement for the unit’s primary superheater pendant, a second stage economizer and other equipment to efficiently extend the operating life of the plant’s existing technologies. B&W’s subsidiary, Babcock & Wilcox Construction Co., LLC, will provide installation services.

"Maintenance of the existing North American power fleet is a high priority for our customers, and B&W Thermal has the resources and knowledge to keep plants running at optimal levels of performance," said B&W Chief Operating Officer Jimmy Morgan. "Whether supplying replacement parts, maintenance services, repairs and improvements of OEM technologies or competitors’ equipment, or identifying and implementing efficiency and performance improvements, B&W Thermal’s experienced and reliable teams are able to service plants in North America and worldwide."

B&W Thermal helps power plant owners maintain a competitive edge in today’s market, helping operators keep plants running at peak efficiency, providing ongoing maintenance support, quality replacement parts and new technologies when needed to meet the latest environmental regulations.

About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. 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 receipt of a contract to design, supply and install replacement technologies for 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210316005236/en/

Contacts

Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | investors@babcock.com

Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | rscornell@babcock.com