Babcock & Wilcox Bags Environmental Equipment Contracts For US Industrial Facilities Totaling $11M

Babcock & Wilcox Enterprises Inc BW disclosed that its B&W Environmental business segment won environmental equipment contracts of over $11 million.

As per the contract, BW will supply two replacement wet electrostatic precipitators (ESPs) at two U.S. industrial facilities and rebuild a wet ESP for a third facility.

"B&W's advanced wet ESP technology has provided highly effective particulate emissions control for our utility and industrial customers for many decades. We are seeing increased interest in this technology as emissions requirements tighten worldwide, and for flue gas pre-treatment applications in CO2 capture processes as customers seek to reduce or eliminate their carbon emissions to combat climate change," stated Alberto Galantini, Senior Vice President, B&W Environmental. 

Last month, BW won a $9 million contract for designing and supplying an air-cooled condenser system for a waste-to-energy facility in the U.K.

As of June 30, 2023, BW had cash, cash equivalents, and restricted cash balance of $83.9 million.

Also Read: Babcock & Wilcox Bags $20M Community Solar Contracts

Price Action: BW shares traded lower by 2.42% at $4.30 on the last check Tuesday.