The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Babcock & Wilcox Canada, Ltd. (B&W Canada), an affiliate of Babcock & Wilcox Nuclear Energy, Inc., has been notified of a contract award from Tennessee Valley Authority (TVA) to design and manufacture two steam generators for the Bellefonte Unit 1 Plant as a part of the Bellefonte completion project.

The steam generators will be designed and manufactured by B&W Canada and are scheduled to be delivered to the Bellefonte site in 2015, pending a decision by the TVA Board to complete construction of Unit 1. Each weighing approximately 500 tons, the “once-through” steam generators are designed to produce superheated steam to be transported to the turbines for electricity generation.

“B&W has a long history at Bellefonte, and we are very pleased that TVA selected our steam generator technology to complement the B&W-designed reactor at the plant,” said Chris Mowry, B&W Nuclear Energy, Inc. President. “With over 50 years of experience in nuclear engineering, manufacturing and service, B&W is confident that this project will be successful in helping TVA maintain its commitment to providing clean electricity to its service area.”

B&W Canada, located in Cambridge, Ontario, has designed and manufactured more than 300 nuclear steam generators for customers worldwide.

About B&W

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 13,000 people, in addition to approximately 10,000 joint venture employees. Learn more at www.babcock.com .

Cautionary Statement Regarding Forward Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the scope and timing of the steam generators for the Bellefonte Unit 1 Plant. These forward-looking statements involve a number of risks and uncertainties, including, among other things, changes in the scope of the contract, including cancelation, and delays or other difficulties executing on the contract. If one or more of these or other risks materialize, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see B&W’s filings with the Securities and Exchange Commission, including its registration statement on Form 10, as amended. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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