Babcock & Wilcox brings waste-to-energy to East Asia
Ohio-based services company Babcock & Wilcox said September 30 it had secured a $38mn award to build waste-to-energy projects in East Asian economies.
For an undisclosed party, the company said it would design, manufacture and supply technology that could process as much as 2mn tons of municipal waste annually.
Along with farm waste, organic food waste can be a source of energy given that its decomposition yields methane gas.
“As Asia’s need for electricity grows and urban centres look for more efficient and climate-conscious ways to deal with municipal waste, we expect waste-to-energy to play an increasing and important role in the region’s energy mix,” said COO Jimmy Morgan. “This directly aligns with our organic growth strategy and operational expansion within the Asia-Pacific region.”
Babcock & Wilcox reported consolidated revenues during the second quarter at $202.9mn, a 49.8% increase over the same period last year.
Its renewables segment accounted for about 20% of total revenue, at $38.3mn. That was some 12% lower than during Q2 2020, a decline the company attributed to the impact of the COVID-19 pandemic.