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News Releases

B&W CEO Discusses Energy Innovation and International Cooperation at U.S. Nuclear Infrastructure Council Event

09 July 2013

The Babcock & Wilcox Company's (B&W) (NYSE: BWC) President and Chief Executive Officer, E. James Ferland, discussed B&W's energy innovation and international growth objectives in an address today to embassy representatives from approximately a dozen nations, as well as representatives from the U.S. Departments of Energy and Commerce and the National Security Council, at the U.S. Nuclear Infrastructure Council's (NIC) Diplomatic Series on Nuclear Energy.

"For nearly a century and a half, B&W has been a leader in energy research, development and technology innovation," Mr. Ferland said. "Today, B&W is poised on the leading edge of clean energy generation, emissions regulation compliance and the advancement of nuclear energy technology, including small modular reactors (SMRs).

"Our Company and joint ventures employ more than 20,000 people worldwide, serving customers in dozens of nations across six continents," he said. "B&W is positioned to meet the global demand for clean, efficient and affordable power generation with an array of advanced energy technologies."

B&W, its subsidiaries and joint ventures provide customers globally with a wide range of products and services, including emissions control equipment for fossil fueled power plants, renewable energy solutions including solar, biomass and waste-to-energy generation boilers for power generation and components for nuclear reactors.

B&W is also the industry leader in the development of SMRs for power generation. B&W plans to deploy a B&W mPower™ plant in Clinch River, Tenn. by 2022 as part of the DOE's SMR Licensing Technical Support Program.

"SMRs have the potential to be a game changer in the international energy market," Ferland said. "With costs that are competitive with conventional nuclear plants, inherent safety features and more flexibility in deployment, SMRs like the B&W mPower reactor could allow power producers in many countries access to clean and affordable nuclear power like never before."

As an international energy technology and government services firm, B&W, its subsidiaries and joint ventures have major design and manufacturing operations in the United States, Canada, Mexico, China, India, Indonesia, Denmark, Germany and Sweden, as well as sales and service offices in numerous other locations.

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 14,000 people, in addition to approximately 10,400 joint venture employees. Learn more at www.babcock.com.

About the U.S. Nuclear Infrastructure Council 
The United States Nuclear Infrastructure Council (NIC) is an influential 40-member-plus, not-for-profit, hybrid American think tank advocate for new nuclear energy build in the U.S. as well as a leading proponent for deployment of the U.S. nuclear supply chain globally. The Council's members represent organizations throughout the global new build nuclear energy industry. The NIC's key strategic priorities include: launching the next wave of U.S. nuclear energy plants; revitalizing the U.S. supply-chain infrastructure and competing in the global market; and resolving key building block issues such as a sustainable fuel cycle.

Cautionary Statement Regarding Forward Looking Statements 
B&W cautions that this release contains forward-looking statements regarding expected timeframes for the deployment of a B&W mPower plant and the potential benefits of SMRs in general, to the extent such statements relate to management's expectations and plans regarding the design, development and commercialization of the B&W mPower reactor. These forward-looking statements involve a number of risks and uncertainties, including, among other things, difficulties in financing B&W mPower research and development efforts, adverse changes in the demand for or competitiveness of nuclear power and changes as a result of regulatory oversight by the Nuclear Regulatory Commission or other U.S. Government agencies. If one or more of these or other risks materialize, actual results may vary materially from those expressed. 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 annual report on Form 10-K for the year ended December 31, 2012 and subsequent quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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Media Contact:
Ryan Cornell
Media Relations
330.860.1345 
rscornell@babcock.com

Investor Contact:
Jenny L. Apker 
Vice President, Treasurer and Investor Relations
704.625.4937 
investors@babcock.com