Babcock & Wilcox (B&W) (NYSE: BW) announced today (Dec 7) that its B&W Renewable segment has received a $24 million contract for a new-build waste-to-energy project in Europe. B&W announced it had received a limited notice to proceed on the engineering portion of the contract in June 2021.
B&W Renewable will design and supply advanced technologies, including a waste-to-energy combustion system and DynaGrate® combustion grate, to process recovered solid waste to produce process steam and power while helping eliminate the use of coal as a fuel source. The facility will have two lines, each capable of processing 29 tons of waste per hour.
"By reducing reliance on coal for power generation, B&W Renewable's waste-to-energy technology will help the facility's operators reduce net carbon dioxide emissions while economically generating clean power," said B&W Chief Operating Officer Jimmy Morgan. "Our waste-to-energy technologies also are a powerful solution for combating the potent greenhouse gas methane, which is generated by decomposing waste in landfills."
"We see tremendous interest in our waste-to-energy solutions from customers throughout the world who are interested in reducing emissions and generating clean energy, and we are actively pursuing opportunities in this market," Morgan said.
B&W Renewable's DynaGrate provides excellent performance with low maintenance costs, thanks to a unique, patented combustion grate design. DynaGrate technology can meet the exacting demands of waste-fired plants, which require a high level of accessibility, fuel flexibility, and energy recovery, under environmentally sound conditions.
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 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 a waste-to-energy project at an industrial facility in Europe and its outlook on and intention to pursue additional opportunities in the European market. 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
330-860-6802 | 704.625.4944
investors@babcock.com
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345
rscornell@babcock.com
For more information
13024 Ballantyne Corporate Place, Suite 700
Charlotte North Carolina
United States 28277
www.babcock.com
