Babcock & Wilcox Awarded Contract to Upgrade Renewable Energy Boilers in Southeast Asia

Babcock & Wilcox (B&W) (NYSE: BW) announced today that its Babcock & Wilcox Renewable Service A/S (B&W Renewable Service) subsidiary has been awarded a contract valued at more than $7 million to upgrade three municipal and commercial waste-fueled boilers and combustion equipment at a waste-to-energy power plant in Southeast Asia.

The contract was awarded based on the results of B&W Renewable Service's Front-End Engineering Design (FEED) study in 2023.

B&W Renewable Service will supply new pressure parts, water-cooled wear zones, water soot cleaning equipment, a secondary air system and related equipment to increase the plant's steam production capacity and efficiency, while also reducing emissions. B&W Renewable Service also will advise the customer during the construction and commissioning processes.

"We're pleased B&W Renewable Service has been selected for this critical infrastructure upgrade project," said B&W Chief Operating Officer Jimmy Morgan. "There is a robust market for waste-to-energy and biomass maintenance and upgrade services in Southeast Asia as customers look to keep plants running longer while also operating more efficiently. Our experienced team has the depth of knowledge and expertise to help customers change and update their facilities as technologies and their needs change."

B&W Renewable Service provides a broad range of world-class upgrade, maintenance, start-up and commissioning, environmental compliance and other services for biomass and waste-to-energy power and industrial plants, as well as replacement parts for these facilities.

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 the receipt of a contract to upgrade boilers and combustion equipment at a waste-to-energy facility in Southeast Asia. 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.