B&W Awarded Environmental Equipment Contract for Iowa Power Plant

CHARLOTTE, N.C. -- (BUSINESS WIRE) -- The Babcock & Wilcox Company (B&W) (NYSE:BWC) announced today that its subsidiary Babcock & Wilcox Power Generation Group, Inc. (B&W PGG) has been awarded a contract to deliver, erect and commission a dry flue gas desulfurization system for Interstate Power and Light Company’s (IPL) 270 megawatt coal-fired Lansing Generating Station in Lansing, Iowa. IPL is a subsidiary of Alliant Energy Corporation (NYSE: LNT).

Under contract to Burns & McDonnell, B&W will deliver and erect a circulating dry scrubber (CDS) with a lime and byproduct solids handling system for the reduction of emissions, including sulfur dioxide (SO₂). B&W will also supply new bags for the plant’s existing pulse jet fabric filter. Babcock & Wilcox Construction Co., Inc. will erect the environmental equipment.

CDS technology – also known as Circulating Fluid Bed Flue Gas Desulfurization (CFB-FGD) – is applicable to a wide range of unit sizes and fuel sulfur content, but is ideally suited for smaller units that fire medium to high sulfur coals. In conjunction with the pulse jet fabric filter, the CDS reduces an array of emissions with low capital and operating costs, and no waste water production.

“We’ve enjoyed an outstanding professional relationship with Interstate Power and Light Company and Burns & McDonnell on past projects, and we appreciate this opportunity to work with these two outstanding companies again,” B&W PGG President and Chief Operating Officer J. Randall Data said. “A CDS system supplied by B&W is an ideal solution for many customers who are looking to reduce a plant’s SO₂ emissions while minimizing capital cost.”

Construction on the Lansing project is scheduled to begin in 2014 and to be completed in 2015. Commissioning and startup will also occur in 2015.

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.

Cautionary Statement Regarding Forward Looking Statements
B&W cautions that this release contains forward-looking statements, including statements relating to the scope and timing of the contract for the IPL Lansing Generating Station. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing contracts and adverse modifications to contracts in backlog, including termination. 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 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 this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.