Babcock & Wilcox (B&W) (NYSE: BW) announced today that it has entered into two contracts to design and supply advanced technologies to achieve reduced emissions and generate cleaner energy at a power plant in Asia. The total value of the contracts is more than $11 million.

B&W will upgrade the plant’s existing combustion equipment, supplying a B&W AireJet^® low-NOx (nitrogen oxides) combustion system and other equipment to improve the unit’s emissions and efficiency.

“As we continue to expand our business in the Asia-Pacific region, as well as other regions globally, we’re seeing an increasing number of significant opportunities to help customers reduce emissions from thermal plants,” said B&W Chief Operating Officer Jimmy Morgan. “The emphasis on clean energy technologies is global and growing, and customers in Asia and elsewhere are moving quickly to protect the environment as they generate energy efficiently and economically.”

As part of B&W’s strategy to expand its international presence, it established its Asia-Pacific regional headquarters, located in Perth, Australia, in 2020 to pursue opportunities in Asia. This expansion will enable B&W to deliver its ClimateBright^TM technology platform and grow its B&W Environmental, B&W Renewable and B&W Thermal businesses to meet the demand for clean energy, decarbonization, renewable waste-to-energy, biomass and environmental technologies, as well as services for utility and industrial customers.

About Babcock & Wilcox

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

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of contracts to design and supply environmental equipment for a power plant in 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.

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