B&W Announces Turnover of U.K. Renewable Energy Project Featuring Advanced Waste Combustion Technology
28 Janeiro 2019 - 10:00AM
Business Wire
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) (B&W)
announced today that its Denmark-based subsidiary, Babcock &
Wilcox Vølund, and its project partner, Interserve, have
successfully turned over a renewable energy plant project near
Dunbar, East Lothain, Scotland, to the customer, Viridor.
The Dunbar Energy Recovery Facility, a municipal waste-to-energy
plant, will provide green power for 39,000 homes while providing
more than 50 permanent, full-time jobs for the community. B&W
Vølund’s advanced waste combustion technology also will help the
community dramatically reduce its reliance on landfilling by
processing 320,000 tonnes of municipal and construction waste
annually that would otherwise end up in a landfill.
This project is one of four European renewable energy projects
B&W previously announced it expects to turn over to customers
in the first and second quarters of 2019. The Dunbar project was
referred to as the “sixth project” in B&W’s previous public
disclosures about its European Renewable projects.
“B&W’s Vølund’s advanced technology is proven and reliable
for waste-to-energy customers worldwide and we’re proud to have
executed this important project for Viridor,” said B&W Chief
Executive Officer Kenneth Young. “The Dunbar facility, which
features B&W Vølund’s state-of-the-art DynaGrate® fuel
combustion system, will be able to process up to 38 tons of
municipal waste per hour, deliver power to thousands of local homes
and businesses, and help the Scottish government meet its target of
landfilling zero biodegradable municipal waste by 2021.”
“Successful turnover of this project was an important step
forward for B&W and reflects the hard work and strong
dedication of our project team and highly skilled employees,” Young
said. “We remain focused on completing our remaining European
projects while we streamline overall operations, reducing overhead
costs and enhancing the strength of our core technologies and
services that establish B&W and its brands as a true global
leader.”
The plant features two B&W Vølund boilers and the advanced
DynaGrate dynamic fuel combustion system, steam turbine and B&W
emissions control equipment. B&W Vølund’s DynaGrate is one of
the most-reliable combustion grates on the market and is tailored
to the waste-to-energy and biomass energy industries. It provides
excellent performance with low maintenance costs due to a design
technology that reduces wear and tear on components.
Compared to other grate technologies, the DynaGrate combustion
technology also produces significantly less fly ash, reducing the
generation of secondary waste to landfill while allowing for
recovery and recycling of all ferrous metals from the bottom
ash.
Over the past 80 years, B&W Vølund has supplied more than
500 combustion grates worldwide.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190128005216/en/
Investor Contact:Megan WilsonVice President, Corporate
Development & Investor RelationsBabcock &
Wilcox704.625.4944 | investors@babcock.comMedia Contact:Ryan
CornellPublic RelationsBabcock & Wilcox330.860.1345 |
rscornell@babcock.com
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