Babcock & Wilcox News

CHARLOTTE, NC

(CHARLOTTE, N.C. – July 23, 2014) – The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that Babcock & Wilcox Vølund A/S (B&W Vølund), a subsidiary of Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), has been awarded a contract for more than $80 million to build a 280 megawatt-thermal (MWth) biomass boiler system for the Skærbækværket power plant near Fredericia, Denmark.

The plant, owned by DONG Energy Thermal Power A/S, will consist of two 140 MW biomass-fired boilers used to supply district heating and power to residents in the region. The boilers will be fueled primarily by wood chips, as well as other biomass residue.

B&W Vølund’s scope consists of the design, manufacture, supply, construction and commissioning of the plant’s boiler system. The contract was booked in the second quarter of 2014.

“This project reflects B&W’s ongoing strategic effort to deploy its clean energy, biomass and waste-to-energy technologies globally,” said B&W PGG President and Chief Operating Officer J. Randall Data. “B&W Vølund is a leader in the clean energy technology sphere and its steam generators offer economical and efficient solutions for our customers’ needs to comply with challenging emissions regulations.”

“We appreciate this opportunity to serve our customer, DONG Energy,” Data said.

In the last decade, B&W Vølund has contracted to build approximately 40 waste-to-energy plants and more than a dozen biomass energy plants utilizing a wide variety of renewable and waste fuels in Asia and Europe.

B&W Vølund will soon begin engineering and design work for the Skærbækværket project. The plant is scheduled for completion in April 2017.

About B&W
Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 11,000 people, in addition to joint venture employees located at projects throughout the U.S. Learn more at www.babcock.com.

About B&W Vølund
Babcock & Wilcox Vølund A/S designs, engineers and supplies advanced biofuel and waste-fired steam generation systems for commercial power, heating and industrial uses. Based in Esbjerg, Denmark, B&W Vølund provides high-efficiency, low-emissions technologies to customers around the world, and is a wholly owned subsidiary of Babcock & Wilcox Power Generation Group, Inc.

Cautionary Statement Regarding Forward Looking Statements
B&W cautions that this release contains forward-looking statements, including statements relating to the scope and value, to the extent either can be viewed as an indicator of future revenues, of the biomass boiler contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, modification or termination of the contract and delays or other difficulties in executing the contract. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see B&W's annual report on Form 10-K for the year ended December 31, 2013 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. 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.