B&W Vølund Turns Over Waste-to-Energy Boiler to Customer in Sweden
April 11 2019 - 06:59AM
Business Wire
Babcock & Wilcox Enterprises, Inc. ("B&W") (NYSE: BW)
announced today its subsidiary, Babcock & Wilcox Vølund A/S
(Vølund), has successfully turned over a waste-fired boiler for a
combined heat and power plant to its customer, Bodens Energi AB
(BEAB), a municipally owned producer of electricity and heat in
Boden, Sweden.
Vølund delivered the waste-to-energy boiler, which features a
DynaGrate® combustion grate system and thermal capacity of 35
megawatts, on schedule. The boiler is capable of handling up to 13
tons of municipal solid waste per hour and has been integrated into
the existing Boden plant, which was built by Vølund in 2008. The
new Vølund unit replaces an older oil-fired unit that will be
placed on standby.
“Vølund is a global leader in waste and biomass-fired boiler and
grate technologies, with extensive knowledge and expertise that’s
well-suited for an important project such as this,” said B&W
Chief Executive Officer Kenneth Young. “We thank our valued
customer, BEAB, for again choosing Vølund boiler technology for its
plant.”
When fully operational, the new line on the Boden plant will be
able to handle up to 135,000 tons of waste per year. The plant's
annual oil consumption will drop from 800 tons to 40 tons, and
biofuels (including peat) consumption will decrease from 15,300
tons to 1,500 tons. With the new combined heating and power plant,
electricity production will increase from 26 gigawatt hours (GWh)
to 66 GWh, and the plant's heating production will remain at 330
GWh annually.
Vølund’s renewable energy steam generation technologies have
been installed in more than 500 units in 30 countries.
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 152
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
the future performance of one of our renewable energy projects.
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; the highly competitive
nature of our businesses; our ability to obtain all required
shareholder and regulatory approvals for portions of our financing
transactions (including, among others, the rights offering, last
out term loan exchange and warrant issuance) that remain to be
completed in a timely manner; 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, 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
remaining items and any warranty obligations within our accrued
estimated costs for our Vølund & Other Renewable segment; our
ability to successfully partner with third parties to win and
execute contracts within the Vølund & Other Renewable segment;
changes in our effective tax rate and tax positions, including any
limitation on our ability to use our net operating loss
carryforwards and other tax assets as a result of an "ownership
change" under Section 382 of the Internal Revenue Code; 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 to recognize revenue over time; 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
as well as our ability to successfully consummate strategic
alternatives for non-core assets, if we determine to pursue them;
and our ability to maintain the listing of our common stock on the
NYSE. 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.
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/20190411005101/en/
Investor Contact:Megan WilsonVice President, Corporate
Development & Investor RelationsBabcock &
Wilcox704.625.4944 | investors@babcock.com
Media Contact:Ryan CornellPublic RelationsBabcock &
Wilcox330.860.1345 | rscornell@babcock.com
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