Babcock & Wilcox Canada Awarded Second Portion of $20 Million Boiler Refurbishment Project for Canadian Pulp & Paper Mill

Business Wire 18-Dec-2025 6:30 AM

• B&W Canada receives $10 million USD contract for equipment installation following separate $10 million USD equipment design and supply contract awarded earlier in 2025

Babcock & Wilcox (B&W) (NYSE:BW) announced today that its Canadian subsidiary, Babcock & Wilcox Canada Corp. (B&W Canada), has been awarded a more than $10 million USD contract by Irving Pulp & Paper Limited to install boiler equipment as part of a $20 million project to upgrade a B&W Canada-manufactured Stirling^® power boiler at the Irving Pulp & Paper Mill in Saint John, New Brunswick, Canada.

B&W Canada supplied the boiler equipment – including a superheater, lower furnace water walls, overfire air system, economizer and tubular air heater – under a separate $10 million USD contract awarded earlier in 2025.

"We appreciate the level of trust that Irving Pulp & Paper has shown in us over the years, and we are excited to provide our expertise for this boiler upgrade project," said Mike Hidas, B&W Canada President and General Manager. "B&W Canada has many decades of experience providing equipment and services to the pulp and paper industry and we are proud of the dedication and capabilities of our highly skilled employees. This new award is a great complement to our $10 million design and supply award in Q1 2025, and we're pleased to once again serve this important customer."

Installation will take place during the mill's Spring 2026 outage. When complete, the upgrade will allow the boiler to achieve greater temperatures needed to drive a steam turbine planned for installation in the future.

The advanced solutions provided by B&W and B&W Canada are used in pulp and paper mills worldwide, and include steam generation equipment, boiler cleaning, controls and monitoring systems, emissions control, cooling systems and decarbonization solutions.

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 award of a boiler refurbishment contract and equipment installation for a project at a pulp and paper facility in Canada. 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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Investor Contact: Investor Relations Babcock & Wilcox 704.625.4944 investors@babcock.com

Media Contact: Ryan Cornell Public Relations Babcock & Wilcox 330.860.1345 rscornell@babcock.com