Babcock & Wilcox to Provide Advanced Hydrogen Generation, Combustion and Decarbonization Technologies for Clean Energy Project in Ohio

– B&W will team up with Newpoint Gas, supplying BrightLoopMT hydrogen generation and decarbonization technology and BrightGenMT combustion technology for a revolutionary project

– B&W technology will allow the plant to produce hydrogen, isolate carbon dioxide and create clean energy with near zero emissions

Babcock & Wilcox (B&W) (NYSE: BW) today announced that it has signed a partnership agreement with Newpoint Gas to serve as a foundational technology partner and provide advanced hydrogen generation, decarbonization and combustion technologies for the redevelopment of the former US Department of Energy Portsmouth Gaseous Diffusion Plant site near Piketon, Ohio.

B&W will provide its BrightLoopMT technology to produce hydrogen and isolate carbon dioxide for storage and will provide a steam generator using the company’s BrightGenMT hydrogen combustion technology to produce clean energy with near zero emissions. Babcock & Wilcox Construction Co., LLC will provide construction and installation services.

When completed, the $1.51 billion h2Trillium Energy and Manufacturing (h2TEAM) will operate as an integrated closed-loop decarbonized hydrogen manufacturing facility, generating clean hydrogen and capturing carbon dioxide for long-term storage or beneficial use.

“We look forward to working with Newpoint and its partners on this innovative and game-changing clean energy project,” said Joe Buckler, senior vice president of B&W Clean Energy. “B&W is a global leader in the clean energy revolution, and we are excited to bring our expertise and groundbreaking technologies to the h2TEAM clean hydrogen and decarbonization project.

“We appreciate Babcock & Wilcox and the opportunity to develop the h2TEAM project. The addition of B&W builds on the momentum of this project and lays the foundation for visionary industries to continue to come together and bring many hundreds of jobs to central Appalachia,” said Wiley Rhodes, CEO of Newpoint Gas. “The reindustrialization of the PORTS facility not only presents a huge opportunity for the industry, but also has a chance to be the single most important driver of economic growth and stability for this region in a generation.”

Newpoint launched the ATH2 Regional Clean Hydrogen Hub Initiative in March 2022. B&W, Newpoint and other technical partners also intend to apply for an $8 billion grant from the Department of Energy Hydrogen Hub (H2Hubs) to fund the project and further development.

B&W’s flexible BrightLoop technology is part of its ClimateBrightMT a suite of clean energy technologies and can accommodate a wide range of usable feedstocks, product outputs and applications. It can convert a wide range of fuels, including natural gas, coal, petroleum coke, methane, biomass, biogas and other industrial process waste gases and materials, into multiple products. The BrightLoop system is highly scalable with benefits that can be applied to a wide range of industrial processes to produce hydrogen, syngas and steam for power, process and heating.

Proven and reliable B&W BrightGen hydrogen combustion technology produces no CO2 and has already been supplied to more than 60 industrial water-tube boilers fired with hydrogen and hydrogen-mixed fuels. BrightGen technology is applicable to new installations or can be retrofitted to existing equipment to fuel hydrogen efficiently and safely.

About B&W

Based 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 Twitter @BabcockWilcox and learn more about www.babcock.com.

Forward-looking statements

B&W cautions that this release contains forward-looking statements, including, but not limited to, statements relating to an agreement to combine with Newpoint Gas to serve as a fundamental technology partner and provide advanced hydrogen generation, decarbonization and combustion for the redevelopment of the former US Department of Energy Site of the Portsmouth Gaseous Diffusion Plant near Piketon, Ohio. 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 or other risks materialize, actual results may differ 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 statements, except to the extent required by applicable law.

Kevin A. Perras