Babcock & Wilcox Awarded Contract to Evaluate Carbon Capture System for Sweden Waste to Energy Plant

(AKRON, Ohio - November 11, 2024) - Babcock & Wilcox (B&W) (NYSE: BW) announced today that it has been awarded a contract to conduct a full-scale feasibility study of its SolveBright™ carbon dioxide (CO₂) capture technology to be integrated into Mälarenergi AB's waste-to-energy plant in Västerås, Sweden.

Mälarenergi's goal is to capture 400,000 tonnes of CO₂ emissions annually, permanently store the CO₂ and achieve carbon neutrality by 2035.

B&W's SolveBright scrubbing system is a post-combustion carbon capture technology that absorbs CO₂ directly from a plant's flue gas in an absorber using a regenerable solvent.

"We're pleased to collaborate with Mälarenergi on this feasibility study to demonstrate how B&W's advanced SolveBright technology can dramatically reduce the Västerås plant's greenhouse gas emissions," said B&W Chief Operating Officer Jimmy Morgan. "We look forward to contributing our many decades of expertise in waste-to-energy and flue gas purification in support of this important customer."

The study will focus on the integration of B&W's SolveBright system with the waste-to-energy plant and district heating system, the management and identification of usable heat, the optimization and rebalancing of the waste-to-energy facility and selecting the best technical configuration for higher operational efficiency.

"We are excited to work with B&W on the integration study of the capture plant in our waste-to-energy facility," said Mälarenergi Project Manager Ivette Farias. "This project will facilitate our path towards energy transition, driving our company to our ambitious net-zero target."

Mälarenergi's waste-to-energy plant supplies 50 percent of Västerås' district heating, helping reduce electricity consumption and ensuring energy is available for other needs. By integrating carbon reduction efforts and capturing emissions, waste-to-energy facilities such as the Västerås plant play a pivotal role in advancing Sweden's goal of reaching net-zero emissions.

B&W's SolveBright technology is part of its ClimateBright™ suite of clean energy and decarbonization technologies. B&W's ClimateBright technologies can reduce carbon impact in a multitude of ways: with post-combustion or pre-combustion carbon capture, by utilizing cleaner-burning fuels, or by harnessing the energy from a vast array of feedstock to generate hydrogen, steam or syngas with carbon isolation.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of a contract to conduct a feasibility study of carbon capture technology for a waste-to-energy plant in Sweden. 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.