Babcock & Wilcox Thermal to Supply Package Boilers for Municipal Heating in Canada

Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will design, manufacture and supply two package boilers to Creative Energy for district heating in Vancouver, British Columbia, Canada. The contract is valued at more than $4 million.

The two B&W FM model water-tube package boilers, designed to fire natural gas or fuel oil, will be manufactured in the company’s Monterrey, Mexico, facility.

“B&W Thermal offers a broad portfolio of package boilers that are designed to provide dependable performance for a wide range of uses – from industry and manufacturing, to health care and municipal heating applications,” said B&W Chief Operating Officer Jimmy Morgan. “B&W Thermal’s many decades of ingenuity and experience have made our package boilers the preferred choice for thousands of customers, and we thank Creative Energy for choosing B&W for this project.”

Creative Energy is one of the largest district energy companies in North America. Its 280-megawatt plant in downtown Vancouver provides heating and domestic hot water to 215 buildings through a 15-kilometer network of underground pipelines.

“Creative Energy has a 50-year history of providing reliable service to customers,” said Creative Energy President & Chief Executive Officer, Krishnan Iyer. “The addition of these B&W boilers to our downtown system will further improve efficiency and provide redundancy to the planned installation of low carbon energy generation in the near term.”

Engineering for the boilers is underway and delivery is scheduled for Spring 2021.

With more than 5,000 units and 150 years of experience, B&W Thermal's water-tube package and industrial boilers are engineered to meet unique capacity, space, fuel, emissions, transportation, installation and other requirements. They offer reliable power with low emissions, low auxiliary power requirements, simple operation, low maintenance and can be tailored for a variety of fuel options.

About B&W

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc., 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 Thermal

Babcock & Wilcox Thermal designs, manufactures and erects steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil & gas, and industrial sectors. B&W has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and more.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of a contract to design, manufacture and supply two package boilers to Creative Energy Canada Platforms Corp. for district heating in Vancouver, British Columbia, Canada. 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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