BABCOCK AND WILCOX COMPANY
Babcock & Wilcox Renewable Receives $38 Million Technology Award for New Waste-to-Energy Facilities in East Asia

B&W Renewable will design, manufacture and supply its Vølund DynaGrate^® combustion grates and provide technical site services, in addition to designs for the plants' fuel-feeding and ash-removal equipment. B&W also will supply a highly efficient, advanced waste-to-energy boiler under a technology license. The facilities will be capable of processing approximately 2 million tons of municipal waste annually.

"B&W is focused on accelerating our growth in the Asia-Pacific region, particularly for our renewable energy and environmental businesses," said Jimmy Morgan, B&W Chief Operating Officer. "These types of projects demonstrate the tremendous opportunity for clean, renewable energy throughout Asia. Our advanced waste-to-energy technologies help customers provide reliable, baseload power, while also protecting the environment. These highly efficient plants reduce reliance on landfills and combat climate change caused by significant methane emissions from waste that would otherwise end up in those landfills. B&W also offers state-of-the-art carbon capture technologies that would allow customers to capture CO2 from waste-to-energy facilities, if they choose, and eliminate greenhouse gas emissions entirely."

"As Asia's need for electricity grows and urban centers look for more efficient and climate-conscious ways to deal with municipal waste, we expect waste-to-energy to play an increasing and important role in the region's energy mix," Morgan said. "This directly aligns with our organic growth strategy and operational expansion within the Asia-Pacific region."

B&W Renewable's waste-to-energy technologies are a vital part of a strong and sustainable waste management chain and are complementary to recycling.

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 an award to supply and license waste-to-energy technologies for waste-to-energy facilities in East 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.

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