Babcock & Wilcox Announces ClimateBright™ Decarbonization Technologies Platform to Reduce Global Greenhouse Gas Emissions

• Proven Technology Captures CO₂ While Producing Hydrogen
• Application for Wide Range of Industries

Babcock & Wilcox ("B&W") (NYSE: BW), a leading innovator in clean energy technologies, announces its ClimateBright™ suite of revolutionary decarbonization technologies designed to help utilities and industry aggressively combat greenhouse gas emissions and climate change. ClimateBright™ technologies further strengthen B&W’s commitment to clean energy progress and to helping customers worldwide address the most significant environmental challenge in industrial processes and energy generation.

“Our ClimateBright™ technologies can change the world,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “The United Nations has set a goal of net-zero greenhouse gas emissions by 2050 and that is supported by more than 100 countries. Through advanced research and development, combined with joint efforts with the U.S. Department of Energy and various universities, B&W has unparalleled experience in clean energy solutions – backed by more than 90 active patents for carbon capture alone – and has the expertise and technology to lead the world’s next industrial revolution toward a zero-carbon future. We are currently working with many clients to determine the best carbon capture solution based on their specific needs.”

B&W’s ClimateBright^TM suite of technologies can capture CO₂ and includes the ability to produce hydrogen. These technologies have application for a wide range of industries including energy production, food manufacturing, steel, cement, oil and gas, pharmaceutical, petrochemical, carbon black, and pulp and paper.

B&W’s ClimateBright^TM solutions include:

• BrightLoop^TM technology to produce hydrogen, steam or syngas from a variety of fuels or feedstocks while isolating CO₂ for capture or other industrial purposes
• SolveBright^TM regenerable solvent technology for carbon capture processes
• OxyBright^TM combustion process ideal for CO₂ isolation and sequestration applications
• BrightGen^TM hydrogen combustion technology

Additionally, B&W’s proven and patented waste-to-energy (“WTE”) technologies, which include its state-of-the-art, highly efficient DynaGrate® combustion grate, are ideal solutions to combat landfill methane – a greenhouse gas 84-times more powerful than CO₂ – while simultaneously generating clean, sustainable energy. B&W’s suite of WTE technologies is installed in hundreds of plants around the world, with a combined capacity of more than 48 million tons of waste annually.

“Combatting climate change through the reduction of carbon and methane emissions is perhaps the greatest challenge of our time and B&W is well-prepared for that challenge,” Young said. “B&W is excited to provide the technology and solutions to achieve clean energy globally, and we’re dedicated to decarbonization as we help address the world’s urgent climate objectives.”

To learn more about B&W’s ClimateBright™ products and the company’s suite of advanced clean energy products and services, visit babcock.com/decarbonization.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox 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.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the establishment of B&W ClimateBright™ brand platform for B&W’s decarbonization technologies and associated potential commercial opportunities. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210525005280/en/