BABCOCK AND WILCOX COMPANY
Babcock & Wilcox Renewable Awarded $35 Million Contract to Supply Waste-to-Energy Technologies for Facilities in Greenland
Facilities will provide district heating while combatting greenhouse gases by reducing landfill methane emissions

The facilities, to be built in the cities of Nuuk and Sisimiut, will provide district heating for residents and businesses while also eliminating methane - a greenhouse gas created by waste as it decomposes in landfills. In addition to using municipal waste, the facilities also will process waste recovered from existing landfills, reducing future methane emissions from those landfills. B&W Renewable's technology will provide the ability to process all of Greenland's municipal waste.

"Waste-to-energy technologies are some of the most effective solutions for combatting climate change by reducing methane emissions from landfills and can be combined with carbon capture technologies to further reduce greenhouse gas emissions," said Jimmy Morgan, B&W Chief Operating Officer. "Using B&W Renewable's proven waste-to-energy and environmental technologies, operators can generate clean energy while reducing the amount of trash in landfills, protecting the air and water from emissions and runoff, and fighting climate change. B&W Renewable's technology also provides a fully sustainable solution, now and in the future, to process municipal waste while helping to protect Greenland's pristine and fragile arctic environment."

"Global demand for waste-to-energy technology is substantial, and B&W Renewable is pursuing additional significant opportunities to deploy our world-class combustion and environmental technologies for customers in Europe, Asia, North America and elsewhere," Morgan said.

According to U.S. Environmental Protection Agency data, waste-to-energy can be a powerful solution for reducing greenhouse gas emissions. One ton of landfilled waste emits the equivalent of 3.42 metric tons of carbon dioxide's estimated Global Warming Potential (GWP) on a 20-year basis, which compares to only .001 metric tons of carbon dioxide GWP when a ton of waste is used to produce baseload energy.

B&W Renewable's project scope includes the supply of advanced Vølund DynaGrate^® combustion grates as well as boilers, waste feeding systems, a Vølund DynaDischarger^® ash extractor, GMAB^TM flue gas cleaning systems and advanced control and monitoring systems. B&W Renewable also will provide installation and commissioning services for the facilities, which are scheduled for completion in 2023 and 2024.

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 Renewable

Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable's leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of a contract for more than $35 million to supply and install advanced combustion, emissions control and related equipment for municipal waste-to-energy facilities in Greenland, as well as statements regarding the reduction of methane emissions from landfills. 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.

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