B&W Vølund Awarded Plant Service Contracts for Waste-to-Energy Customers in U.K., Denmark

April 30, 2020

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox Vølund A/S (Vølund), a subsidiary of Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE: BW), has been awarded a multi-year service contract for two U.K. waste-to-energy plants owned by Viridor, and a plant upgrade service contract for Frederikshavn Forsyning A/S’s combined heat and power waste-to-energy plant in Frederikshavn, Denmark. The combined value of the contracts is more than $4 million.

Under the first agreement, Vølund will provide inspection, maintenance and optimization services for equipment it previously supplied to Viridor’s low-carbon heat and energy facilities. The second agreement calls for Vølund to design and install new equipment and provide diagnostic services for the Frederikshavn plant’s boiler.

“With its decades of experience and knowledge, Vølund is well-positioned to provide maintenance, field engineering, upgrades and parts to renewable energy plants in Europe,” said Jimmy Morgan, Senior Vice President, The Babcock & Wilcox Company. “These two contracts are reflective of the many emerging opportunities as we expand our renewable energy business world-wide.”

“We thank Frederikshavn Forsyning and Viridor for the confidence they have shown in us,” Morgan said.

Vølund’s plant services include upgrades and optimizations that can help maintain stable operation, increased energy output, and achieve emission levels that comply with today’s standards and legislation. Vølund also manufactures replacement parts to ensure plant availability for daily operations and avoid unexpected shutdowns. Learn more about Vølund’s biomass, waste-to-energy and fossil fuel plant services at babcock.com.

About B&W

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 Twitter @BabcockWilcox and learn more at www.babcock.com.

About B&W Vølund

Based in Esbjerg, Denmark, B&W Vølund is a subsidiary of Babcock & Wilcox Enterprises, Inc., and is a supplier of technologies for efficient and environmentally sound waste-to-energy and biomass energy plants around the world.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of its multi-year service contract for two U.K. waste-to-energy plants and plant upgrade service contract. 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.

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

Source: Babcock & Wilcox Enterprises, Inc.

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