Benzinga | Jan 25, 2022 02:00PM EST

Babcock & Wilcox Bags $11M Contract For Biomass Boiler Upgrade In Canada

* Babcock & Wilcox Enterprises Inc (NYSE:BW) segment B&W Renewable segment has secured a contract for more than $11 million to design, manufacture, supply, and install boiler equipment for a biomass boiler in Canada.

* Under the contract, B&W Renewable will replace pressure parts for the boiler and upgrade its wood feed and air systems.

* Babcock & Wilcox Canada Corp. will provide the installation services.

* The company's biomass-fueled boilers are used to generate heat, process steam, electricity, syngas, and/or bio-oil in a wide range of industrial and utility plants worldwide.

* Price Action: BW shares traded lower by 2.17% at $7.31 on the last check Tuesday.