Babcock & Wilcox Receives Award to Begin Work on Approximately $130 Million Air Quality Control Project

Babcock & Wilcox Receives Award to Begin Work on Approximately $130 Million Air Quality Control Project

- Environmental upgrades support unprecedented growth in coal-fired baseload power demand

Babcock & Wilcox (B&W) (NYSE: BW) announced today that it has received a limited notice to proceed (LNTP) on work for an approximately $130 million air quality control project for a U.S. coal-fired power plant.

Under the LNTP, B&W will commence development, engineering and long-lead procurement activities for the project, which is intended to help support continued reliable power generation while helping the facility achieve its emissions reduction goals.

It is expected that B&W’s subsidiary, Babcock & Wilcox Construction Co., LLC will execute the construction and installation portion of the project scope.

"We are excited to leverage our world-class environmental control technology to support the needs of our customers’ coal-fired power generating assets as they respond to the unprecedented growth in energy demand," said Justin Chenevey, Senior Vice President, Global Projects, B&W. "Across North America, many utilities are making strategic investments to ensure existing coal-fired generating assets remain reliable, efficient and environmentally responsible for years to come. Supporting that effort is one of B&W's core strengths.”

“Our team combines decades of utility experience with proven environmental technologies and project execution capabilities,” Chenevey said. “We’re committed to helping customers meet evolving requirements while continuing to provide dependable electricity to the communities they serve."

B&W will draw on its extensive experience delivering environmental technologies and emissions control solutions for utility and industrial customers. B&W's advanced air quality control technologies help customers improve environmental performance while supporting the continued reliability and operation of critical power generation assets.

About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.

Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an award to begin work on an approximately $130 million air quality control project for a U.S. utility customer. 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 and quarterly report on Form 10-Q. 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.

Investor Contact:
Investor Relations
Babcock & Wilcox
704.625.4944
investors@babcock.com

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

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