- Proven BrightLoop is part of B&W�s ClimateBright^TM suite of decarbonization technologies

- BrightLoop can convert various fuels, including woody biomass, into clean, zero-carbon hydrogen fuel

- Project will be part of the largest green hydrogen hub in southeastern Australia

AKRON, Ohio--(BUSINESS WIRE)--$BW #chemicallooping--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Renewable segment has entered into an agreement with Port Anthony Renewables Limited to jointly develop a biomass-to-hydrogen clean energy project in Port Anthony, Victoria, Australia utilizing B&W�s BrightLoop^TM technology. When completed, the plant is expected to be part of the largest green hydrogen hub in southeastern Australia.

BrightLoop technology is part of B&W�s ClimateBright^TM suite of decarbonization technologies. It utilizes a proprietary regenerable oxide particle to generate hydrogen from a variety of fuels, including biomass, natural gas, petroleum coke, coal, municipal solid waste for waste-to-energy and syngas while creating a concentrated stream of carbon dioxide (CO₂) for sequestration or utilization.

�The need for clean energy and decarbonization solutions in the Asia-Pacific region is significant, and our ClimateBright technologies will play a key role in the growth of our business,� said Jimmy Morgan, B&W Chief Operating Officer. �Net-zero greenhouse gas emissions through the use of low-carbon fuels such as hydrogen is an achievable goal being embraced by governments and industries worldwide and we�re excited to have proven technologies, such as BrightLoop, to meet this need.�

Ben Anthony, Managing Director & Chief Executive Officer of Port Anthony Renewables said, �Port Anthony Renewables is pleased to have Babcock & Wilcox, a world-renowned technology leader and supplier of advanced technology for renewable energy and environmental protection join the development of the Port Anthony Green Energy Hub.�

�The jointly developed project with Port Anthony Renewables at the Port Anthony Hydrogen Hub is a game changer not only for our project but also for the decarbonization of the Victorian and, in turn, the Australian economy,� Anthony said. �We believe the future of all forms of transport in Australia is changing and hydrogen will play a key role alongside of battery electric vehicles in achieving our 2050 net zero targets.�

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at www.babcock.com.

About B&W Renewable

Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable�s leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the signing of an agreement to jointly develop a biomass-to-hydrogen clean energy project in Australia, as well as business growth in the Asia-Pacific 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.

Contacts

Investor Contact:
Megan Wilson

Vice President, Corporate Development & Investor Relations

Babcock & Wilcox

704.625.4944 | [email protected]

Media Contact:
Ryan Cornell

Public Relations

Babcock & Wilcox

330.860.1345 | [email protected]