The Babcock & Wilcox Company’s (B&W) (NYSE:BWC) Denmark-based subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), has been awarded a $35 million contract with Finland-based EkoKem OY to supply key equipment for a 36 megawatt waste-to-energy, combined heat and power plant in Riihimäki, Finland.

B&W Vølund will design, manufacture, deliver and construct the waste-to-energy plant’s heat recovery boiler using B&W’s patented DynaGrate ® water-cooled combustion grate, burners, combustion air system, selective non-catalytic reduction system and other components. Engineering is underway at B&W Vølund’s Esbjerg, Denmark offices. The plant is scheduled for completion prior to commissioning in the fall of 2013.

“We are pleased to help our customer, EkoKem, with this project,” said B&W Vølund Managing Director John Olesen. “Finland is an important new market for B&W Vølund, which is a proven leader in the renewable energy field.”

B&W Vølund is one of the world’s leading suppliers of equipment and technologies designed to convert household waste and biomass into thermal energy.

About The Babcock & Wilcox Company 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 12,000 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, value and timing of the waste-to-energy contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing on our contracts in backlog. 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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