Babcock & Wilcox Awarded Contract to Support Phillips 66 Carbon Capture Project in U.K.

Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Environmental segment has been awarded a contract by Phillips 66 Limited to design a flue gas pre-treatment technology upstream from a planned carbon dioxide (CO₂) capture system on the Phillips 66 Limited Humber Refinery’s Fluid Catalytic Cracker (FCC) in North Lincolnshire, United Kingdom.

“B&W has many decades of experience working with customers in the oil, gas and refining industries, providing technologies to make processes cleaner and more efficient,” said Joe Buckler, B&W Senior Vice President, Clean Energy. “As the global leader in pre-treatment technologies for post-combustion carbon capture, the opportunity to work with Phillips 66 Limited aligns well with our experience and expertise.”

“B&W has a complete suite of proven environmental technologies in our portfolio, including the addition of the engineering expertise of our Hamon Research-Cottrell technology, which complements our decarbonization and carbon capture solutions,” Buckler said. “We thank Phillips 66 Limited for selecting us for this important clean energy project.”

Adam Young, Project Lead at the Phillips 66 Limited Humber Refinery, said, “We are pleased to be working with B&W, leveraging their expertise and knowledge. The pre-treatment is vital to the process to enable the planned carbon capture technology to work optimally.”

Young continued, “Our proposed project would be a first of a kind for an FCC. The knowledge learnt could help to support over 300 FCCs across the world to reduce carbon emissions and support industry to decarbonize.”

Phillips 66 Limited’s Humber Refinery carbon capture facility plans are part of the Humber Zero project, a world-scale carbon reduction project to support the decarbonization of critical UK industry. The project aims to capture up to 8 million tonnes of CO₂ by 2030.

B&W Environmental is committed to environmental sustainability, designing, engineering and deploying technologies proven to help preserve the earth’s natural resources. B&W Environmental’s technologies can be utilized to remove many pollutants from flue gas, including nitrogen oxides, sulfur oxides, particulates, dioxins, metals and more.

About Babcock & Wilcox

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

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the signing of a contract to design and supply flue gas pre-treatment technology. 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.

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