B&W Thermal Awarded Contracts Totaling More Than $15 Million for Emissions and Performance Upgrades at Taiwan Power Company Plant

Babcock & Wilcox (B&W) (NYSE: BW) announced that its B&W Thermal segment will design and supply industry leading low-NO_x combustion technology and an innovative pulverizer system upgrade for Taiwan Power Company's Taichung Power Plant in Longjing District, Taichung, Taiwan. The contracts total more than $15 million.

Four of the plant's boilers were supplied by B&W in the 1990s. B&W Thermal will upgrade the combustion system for one unit, providing its custom-engineered AireJet^® low-NO_x burners. B&W Thermal's AireJet burners offer significantly reduced nitrogen oxides levels compared to other low-NO_x combustion technology, burning cleaner, with high boiler efficiency and improved plant heat rate. B&W Thermal will also convert the existing pulverizer systems on two units from B&W-89 to B&W-92 pulverizers to provide additional fuel grinding capability and efficiency, and will also provide DSVS rotating classifiers and associated equipment as part of these pulverizer system upgrades.

"B&W Thermal has a long and strong relationship with Taiwan Power Company and is pleased to provide this customer with our latest offering in low-NO_x burner technology ? the AireJet burner, which offers a proven solution to lower emissions and improve plant efficiency," said Jimmy Morgan, B&W Chief Operating Officer. "As the original equipment provider for these units nearly three decades ago, we're looking forward to bringing new technology solutions to this plant, and to helping our customer continue to generate reliable and affordable power, while also reducing emissions."

Engineering is underway at B&W's Akron, Ohio, headquarters, and equipment delivery is scheduled for spring 2021.

About B&W

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

About B&W Thermal

Babcock & Wilcox Thermal offers a broad portfolio of steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil and gas, and industrial sectors. B&W has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and others.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the design and supply of low-NO_x combustion technology and a pulverizer system upgrade for Taiwan Power Company's Taichung Power Plant in Longjing District, Taichung, Taiwan. 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.