Babcock & Wilcox Enterprises, Inc. · NYSE:BW
Babcock & Wilcox Enterprises — Investor Presentation (August 2022)
36 slides from Babcock & Wilcox Enterprises's investor presentation, Aug 8, 2022
Slide 1: Company Overview
Company Overview August 8, 2022 © 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. BABCOCK & WILCOX ENTERPRISES, INC. 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement B&W Enterprises cautions that this presentation contains forward-looking statements within the meaning of federal securities laws. All statements other than statements of historical or current fact included in this presentation are forward-looking statements, including, without
Slide 3: Executive Summary
Executive Summary Strong Global Brand Babcock & Wilcox provides high-quality, innovative renewable, environmental and thermal technologies and has served critical power generation and industrial applications for more than 150 years. Positioned for Growth B&W’s transformation is gaining momentum, wit
Slide 4: Next Generation B&W
Next Generation B&W B&W FOUNDATION DRIVES GROWTH STRATEGY Supporting a Circular Economy For our economy and future generations, we continually develop Advanced Technologies ecologically sound ways of utilizing and recycling valuable resources like biomass, municipal waste, and solar energy to create
Slide 5: What We Do
What We Do Technologies for Renewable Power & Resource Recovery Waste-to-energy and biomass-to-energy baseload power, chemical recovery boilers for RENEWABLE pulp & paper, long duration energy storage, solar power installation & services Technologies for a Clean Environment Emissions control, ash ha
Slide 6: Key Market Drivers & Opportunities
Key Market Drivers & Opportunities Global drive toward renewable and Potential for carbon legislation reusable energy sources to limit benefits emergent carbon- carbon and methane emissions capture technologies Increasing global regulatory An aging utility boiler installed base restrictions on landf
Slide 7: Key Growth Strategies
Key Growth Strategies Accelerate growth by expanding sales, service and business development teams in key international regions to serve the broad renewable, environmental and thermal markets Meet the global need for carbon reduction with patented renewable waste-to-energy, biomass, hydrogen product
Slide 8: Installed & Proven Technologies
Installed & Proven Technologies More than 500 waste-to-energy and biomass-to-energy units at more than 300 facilities in more than 30 countries, serving a wide range of utility, waste management, municipality and investment firm customers More than 100 MW of clean solar power production installed La
Slide 9: Company Profile
Company Profile Babcock & Wilcox is a global leader in advanced environmental, renewable and thermal technologies and services for power and industrial applications. Corporate Snapshot Consolidated Backlog1 as of Headquarters: Akron OH, USA LTM Revenue June 30, 2022 Founded: 1867 17% Industrial Part
Slide 10: 3-Year Pipeline
Global footprint and ongoing expansion positions Global Expansion B&W to leverage market trends around the world 2022-2024 Addressable Market Europe 2022-2024 More than $8B Addressable Market Asia-Pacific More than $8B 2022-2024 Addressable Market Middle East & Africa 2022-2024 More than $4B Manufac
Slide 11: ClimateBright Decarbonization Technologies
B&W’s ClimateBrightTM Decarbonization Technologies are Ready ClimateBright DECARBONIZATION TECHNOLOGIES TM BrightLoop ™ OxyBright ™ SolveBright ™ BrightGen™ CHEMICAL LOOPING OXYGEN-FUEL COMBUSTION POST-COMBUSTION CARBON CAPTURE HYDROGEN COMBUSTION Pilot testing complete Jointly developed with Th
Slide 12: Carbon Capture Solutions Ready for Deployment
Key Technologies: Carbon Capture Solutions Ready for Deployment OxyBright™ oxygen-fuel combustion SolveBright™ post-combustion carbon capture Oxy-coal combustion technology Post-combustion technology “Near-zero” emissions Patented amine-based solvent process 30 MW demonstration complete
Slide 13: BrightLoop Chemical Looping Combustion Platform
Key Technologies: BrightLoop™ Chemical Looping Combustion Platform Advanced process for clean power generation and CO2 capture A flameless, oxy-combustion process using oxidation-reduction reactions to process fuel and produce energy for power generation Produces a concentrated CO2 stream that
Slide 14: BrightLoop Scale-Up Plan
BrightLoop Scale-Up Plan x10 x10 >x100 >x10 Laboratory Sub-Pilot Pilot Scale Commercial Demo Large-Scale Commercial 2.5 kWth 25 kWth 250 kWth 15 TPD H2/25 MWth 200 TPD H2/250 MWth Critical Dimension Critical Dimension Critical Dimension Critical Dimension Critical Dimension Scale up Factor: Scale up
Slide 15: Waste-to-Energy Technology Reduces Methane Emissions
B&W’s Waste-to-Energy Technology Reduces Methane Emissions Methane has 84 times the Global Warming Potential (GWP) of CO2i B&W’s state-of-the-art technology has been Annual additions to landfills in the U.S.ii produce emissions installed in more than 500 units in more equivalent to 10 million
Slide 16: Financial Information
Financial Information © 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. BABCOCK & WILCOX ENTERPRISES, INC. 16
Slide 17: Consolidated Financial Summary
Consolidated Financial Summary Twelve Months Ended Twelve Months Ended Twelve Months Ended December 31, 2020 ($ in Millions) June 30, 2022 December 31, 2021 Reported Pro Forma Exc. Non-Recurring Insurance Revenue $ 777.4 $ 723.4 $ 566.3 $ 566.3 Operating Income (Loss) $ 21.4 $ 20.8 $ (1.7) $ (27.7)
Slide 18: Capital Structure
Capital Structure Note: Figures may not be clerically accurate due to rounding. (1) See SEC financial filings and/or slides in Appendix for reconciliation of non-GAAP measures. (2) Net Debt compared to LTM 6/30/2022 Adjusted EBITDA © 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. BABCO
Slide 19: Appendix
Appendix © 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. BABCOCK & WILCOX ENTERPRISES, INC. 19
Slide 20: Leadership Team
Leadership Team Chairman and Chief Executive Officer Kenny Young General Counsel Chief Strategy and Chief Financial Officer Chief Operating Officer Technology Officer Lou Salamone Jimmy Morgan John Dziewisz Brandy Johnson Chief People Officer Clean Energy, SVP Thermal, SVP Strategic Advisor Jacqueli
Slide 21: Corporate Governance
Corporate Governance Board of Directors Advisory Board Chairman and Chief Executive Officer Henry Bartoli Homaira Akbari Kenny Young Rod O’Connor Peter O’Keefe Joseph Tato Rebecca Stahl Phillip Piddington Eric Powell Alan Howe Philip Moeller © 2022 Babcock & Wilcox Enterprises, Inc. All rights reser
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (1) Twelve Months Ended Twelve Months ended $ in Millions June 30, 2022 (4) Dec 31, 2021 Dec 31, 2020 (3) 1) Figures may not be clerically accurate due to rounding Net income (loss) $ 32.2 $31.5 $ (10.3) Interest expense 42.9 41.4 60.7 2) Cost associated with developme
Slide 23: Key Technologies
Key Technologies © 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. BABCOCK & WILCOX ENTERPRISES, INC. 23
Slide 24: Key Technologies: Steam Generation
Key Technologies: Steam Generation Utility Boilers Waste-to-Energy Boilers High pressure, high efficiency, high capacity, low emissions Reduces dependency on landfills and reduces methane gas emissions Fuel: Coal, oil, natural gas, multi-fuel Fuels: MSW, RDF Natural Gas-Fired and Other Industrial Bi
Slide 25: Key Technologies: Renewable Combustion Grates
Key Technologies: Renewable Combustion Grates DynaGrate® Pivoting Combustion Grate Large installed base with diverse set of customers Grate design allows for high availability and long operational time, leading to reduced O&M cost High thermal efficiency and low emissions Fuel flexibility
Slide 26: Key Technologies: Emissions Controls
Key Technologies: Emissions Controls Emission Technology Solution Pulse Jet Fabric Filters (PJFF) / Baghouses Wet and Dry Electrostatic Precipitators (ESPs) Particulate Control Wet Particulate Scrubbers Multiclone® Dust Collectors Selective Catalytic and Non-catalytic Reduction (SCR/SNCR)
Slide 27: Key Technologies: Steam Generation & Environmental Solutions
Key Technologies: Steam Generation & Environmental Solutions Across a Utility Plant Particulate Control Steam Generator Technology Technologies Environmental Solutions Pulverizers Particulate control Furnace Dry Scrubbing Nitrogen oxides (NOx) removal Technologies Sulfur removal Burners
Slide 28: Comprehensive Waste-to-Energy Solutions
Key Technologies: Comprehensive Waste-to-Energy Solutions Cooling towers On-line boiler washing system Selective non-catalytic reduction (SNCR) NOx control DynaFeeder® waste fuel feeder system Fabric filter baghouse VoluMix® system for improved combustion Wet scrubber with ADIOX® including energy re
Slide 29: Submerged Grind Conveyor Ash Handling
Key Technologies: Submerged Grind Conveyor Ash Handling Designed to meet current and future U.S. regulatory requirements for ash handling with: Lower equipment cost Lower installation cost • Utilize existing hoppers and gate valves • No modification to hopper Short outage required Short lead
Slide 30: Ignitors, Flame Scanners and Controls
Key Technologies: Ignitors, Flame Scanners and Controls Designed for safety, reliability and fuel flexibility Natural gas conversions from oil or coal-firing Alternative energy fuels such as hydrogen, bio-diesel, methanol and bio-gas Burner management and controls for complete turnkey system c
Slide 31: Engineered Products and HRSG Components
Key Technologies: Engineered Products and HRSG Components Engineered products and solutions, quality manufacturing Comprehensive mechanical and process design upgrades Chanute, Kansas, manufacturing facility has produced more HRSG components than any other facility in North America • Pressure pa
Slide 32: Solar Installation
Key Technologies: Solar Installation Engineering & Procurement Construction Benefits of a solar • Project Cost Analysis • Permitting and AHJ Permissions • Subcontractor Management addition: • On-Site Construction Management • Grid Integration and Interconnection • Logistics • Coordination and Su
Slide 33: Long Duration Energy Storage
Key Technologies: Long Duration Energy Storage B&W offers Pressurized or Atmospheric Fluidized Bed technology for long duration energy storage B&W also has an exclusive option to license NREL’s Enduring long duration energy NREL Enduring: (8-100 hours storage) storage technology Electric heate
Slide 34: Cooling Systems
Key Technologies: Cooling Systems Natural Draft/Hyperbolic Mechanical Draft Fanless design provides low power, noise Counterflow for cost-effective thermal and maintenance, as well as long operating performance; crossflow for low energy lifecycle consumption and operating costs WET MATERIAL OPTIONS:
Slide 35: Global Parts & Service
Key Technologies: Global Parts & Service Maintaining/improving plant operation: Upgrades & Retrofits Projects for extending the life of power, process and environmental equipment Supplying components for system reliability: Replacement Parts High-quality standard or custom-engineered pressure and no
Slide 36: Babcock & Wilcox Enterprises, Inc.
© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. BABCOCK & WILCOX ENTERPRISES, INC. 36
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