Babcock & Wilcox News

(BARBERTON, Ohio – February 4, 2019) – Babcock & Wilcox Enterprises, Inc. (NYSE:BW) (B&W) announced today that its subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), has successfully turned over the leading-edge Amager Bakke / Copenhill waste-to-energy plant near Copenhagen, Denmark, to its customer, Amager Ressourcecenter (ARC).

B&W previously announced it expects to turn over four plants in the first and second quarters of 2019. This project is the second of those four. It was referred to as the “first project” in B&W’s previous public disclosures about its European Renewable projects.

The Copenhill project, which is jointly owned by five Copenhagen-area municipalities, is a state-of-the-art renewable energy plant featuring a modern and novel architectural design that includes a publicly accessible ski slope on its roof. The plant is capable of processing approximately 560,000 tonnes of waste annually to supply more than 50,000 homes and businesses with electricity and 120,000 households with district heating.

B&W Vølund’s project scope included the design and supply of the plant’s boiler, B&W Vølund’s DynaGrate^® combustion system, slag and ash-handling equipment and advanced environmental technology.

“This project demonstrates B&W’s commitment to helping our customers use waste to create heat and power in an efficient and environmentally conscious manner,” said B&W Chief Executive Officer Kenneth Young. “It also reflects the hard work and dedication of the talented project teams who have worked tirelessly to reach this milestone.”

ARC Director Jacob H. Simonsen said his organization was pleased to accept the plant turnover from B&W Vølund.

“The plant has in the past month been running very well and we are producing large amounts of energy with very limited emissions,” Simonsen said. “We are happy to have taken over a world-class plant.”

B&W Vølund Managing Director Koen Bogers said the plant is a showcase of Danish innovation. 

“B&W Vølund has installed hundreds of waste and biomass-fired units worldwide, but Copenhill is particularly special for us because of its unique world-renowned design and location near our own Denmark B&W Vølund headquarters,” Bogers said. “We thank ARC for the opportunity to deliver one of the premier renewable energy facilities in Europe. This plant not only provides a highly efficient source of heat and power for the community and supports a circular economy but also creates a novel and innovative landmark for our region.” 

The Copenhill plant’s impressive efficiency and environmental performance are attributable in part to its combustion grate technology – the B&W Vølund DynaGrate. This industry-leading technology is based on more than 40 years of research and development. It is ideally suited for waste-to-energy projects like Copenhill that require a high level of accessibility, fuel flexibility and energy recovery, and environmental performance.

About B&W
Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets, and has been transforming our world for 151 years. Follow us on Twitter @BabcockWilcox 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 our strategic objectives and current and future project execution. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, our ability to continue as a going concern; our ability to obtain and maintain sufficient financing to provide liquidity to meet our business objectives, surety bonds, letters of credit and similar financing; our ability to satisfy the liquidity and other requirements under U.S. revolving credit facility as recently amended, including our ability to receive concessions from customers on our Renewable energy loss contracts; our ability to maintain compliance with the NYSE’s continued listing criteria; the highly competitive nature of our businesses; general economic and business conditions, including changes in interest rates and currency exchange rates; general developments in the industries in which we are involved; cancellations of and adjustments to backlog and the resulting impact from using backlog as an indicator of future earnings; our ability to perform contracts on time and on budget, in accordance with the schedules and terms established by the applicable contracts with customers; failure by third-party subcontractors, joint venture partners or suppliers to perform their obligations on time and as specified; our ability to realize anticipated savings and operational benefits from our restructuring plans, and other cost-savings initiatives; our ability to successfully address productivity and schedule issues in our Renewable segment, including the ability to complete our Renewable energy projects within the expected time frame and the estimated costs; our ability to successfully partner with third parties to win and execute renewable contracts; changes in our effective tax rate and tax positions; our ability to maintain operational support for our information systems against service outages and data corruption, as well as protection against cyber-based network security breaches and theft of data; our ability to protect our intellectual property and renew licenses to use intellectual property of third parties; our use of the percentage-of-completion method of accounting; our ability to successfully manage research and development projects and costs, including our efforts to successfully develop and commercialize new technologies and products; the operating risks normally incident to our lines of business, including professional liability, product liability, warranty and other claims against us; changes in, or our failure or inability to comply with, laws and government regulations; actual or anticipated changes in governmental regulation, including trade and tariff policies; difficulties we may encounter in obtaining regulatory or other necessary permits or approvals; changes in, and liabilities relating to, existing or future environmental regulatory matters; changes in actuarial assumptions and market fluctuations that affect our net pension liabilities and income; potential violations of the Foreign Corrupt Practices Act; our ability to successfully compete with current and future competitors; the loss of key personnel and the continued availability of qualified personnel; our ability to negotiate and maintain good relationships with labor unions; changes in pension and medical expenses associated with our retirement benefit programs; social, political, competitive and economic situations in foreign countries where we do business or seek new business; the possibilities of war, other armed conflicts or terrorist attacks; the willingness of customers and suppliers to continue to do business with us on reasonable terms and conditions; and our ability to successfully consummate strategic alternatives for non-core assets, if we determine to pursue them. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, see B&W’s filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.