B&W MEGTEC Awarded Contract to Supply Coating Equipment to Maker of Lithium-Ion Batteries
CHARLOTTE, N.C.–(BUSINESS WIRE)–Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that
its subsidiary, Babcock & Wilcox MEGTEC (B&W MEGTEC), has been awarded a
contract for more than $15 million to design and supply battery coating
equipment to K.R. ENERGY Group subsidiary FIB S.r.l. for a lithium-ion
battery manufacturing facility currently under construction in Teverola,
Italy.
B&W MEGTEC will supply equipment for mixing systems, anode and cathode
coating lines, and slitting systems, as well as general contracting and
plant start-up services. The plant will produce energy storage systems
for homes, businesses and electric vehicles.
ÔÇ£We continue to see substantial opportunities for B&W MEGTEC in the
global lithium ion battery technology market,ÔÇØ said Kenneth Zak, Senior
Vice President, B&W MEGTEC. ÔÇ£From electric automobile batteries to home
and industrial-scale energy storage, this is a robust and rapidly
growing market. We thank K.R. Energy and FIB S.r.l. for choosing us for
this important project.ÔÇØ
B&W MEGTECÔÇÖs proprietary lithium-ion battery electrode coating process
uses a simultaneous two-sided horizontal tensioned-web coating method
and a patented air flotation dryer. This entire coating and drying
method increases efficiency and reduces waste. Benefits of the two-side
coating process include improved quality, lower capital and operating
costs, and more effective and efficient operation than other traditional
coaters.
The contract was booked in the first quarter of 2018 and B&W MEGTEC has
begun engineering and manufacturing work for the project and is
scheduled to commission the plant in the second quarter of 2019.
About B&W
Headquartered in Charlotte, N.C., Babcock & Wilcox is a global leader
in energy and environmental technologies and services for the power and
industrial markets, and has been transforming our world for more than
150 years. B&W companies employ more than 4,000 people worldwide. Follow
us on Twitter @BabcockWilcox
and learn more at www.babcock.com.
About B&W MEGTEC
Babcock & Wilcox MEGTEC, a subsidiary of Babcock & Wilcox
Enterprises, Inc., designs, engineers, manufactures and services
sophisticated air pollution control systems, and coating and drying
equipment for the industrial sector.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements,
including statements relating to the scope and timing of B&W MEGTECÔÇÖs
contract to design and supply battery coating equipment as described
above. These forward-looking statements involve a number of risks
and uncertainties, including, among other things, disputes with
customers or suppliers, availability of engineering resources, delays or
other difficulties executing such contract, and adverse modifications to
the contract, 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 our most recent 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.
Contacts
Babcock & Wilcox
Investor Contact:
Chase Jacobson,
704-625-4944
Vice President, Investor Relations
[email protected]
or
Media
Contact:
Ryan Cornell, 330-860-1345
Public Relations
[email protected]
