Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental segment has been awarded a contract for approximately $5 million to supply a SPIG S.p.A. cooling system for a petrochemical facility in the Middle East.
The cooling tower will be used to provide cooling for propane dehydrogenation and polypropylene production equipment while reducing environmental impact by conserving water and reducing liquid discharge.
“We are seeing tremendous opportunity to grow B&W’s business in the Middle East,” said Jimmy Morgan, B&W Chief Operating Officer. “There is substantial demand for environmental technologies, products and services for industrial plants, particularly in the petrochemical sector, and technologies for renewable energy generation such as waste-to-energy. We’re actively looking to continue to expand B&W’s business in this region.”
Some benefits of B&W Environmental’s SPIG cooling tower technology include lower water consumption, reduced plume formation, and decreased noise emissions.
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 LinkedIn and learn more at www.babcock.com.
About B&W Environmental
Babcock & Wilcox Environmental offers a full suite of best-in-class emissions control products and solutions for utility and industrial steam generation applications around the world. The segment’s broad experience includes systems for ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control, along with cooling solutions.
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of a contract to design and supply a SPIG S.p.A. cooling tower for a petrochemical plant in the Middle East and growth opportunities of its business in the region. 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.
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
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