Thermal Engineering International Equipment Selected for New Power Plants in Chile

June 16, 2009

Danvers, MA – Thermal Engineering International (USA) Inc. (TEi), located in Santa Fe Springs, CA, a subsidiary of Babcock Power Inc., based in Danvers, MA, announced today that it was awarded two contracts by Maire Tecnimont S.p.A., based in Rome, Italy, to supply the feedwater heaters for the Colbun Coronel and Endesa Bocamina II coal-fired thermoelectric power plants in Coronel, located approximately 500 km south of Santiago, Chile.

TEi will supply three high pressure feedwater heaters for each plant. Each feedwater heater is designed and manufactured to the specific thermal conditions of each plant. Each plant will generate 370 megawatts and will be made up of one steam generator and one steam turbine generator block. These projects will make a significant contribution to solving issues associated with a lack of electricity which plagues Chile and retards its economic growth.

Jon Koenig, President of Thermal Engineering International (USA) Inc., commented “our international business continues to grow as customers seek out quality products providing improved plant efficiency and long term reliability. Being selected by Maire Tecnimont, with its large global presence, for the two key projects in Chile is a true testament to the recognition of our global leadership in the heat exchanger market.”

Maire Tecnimont S.p.A. is the parent company of an international industrial group which provides a comprehensive, integrated system of services and installations in its sectors: Chemicals and Petrochemicals, Oil & Gas, Power, Civil Engineering and Infrastructure. The Group has established itself thanks to advanced skills in Project Management and Main Contracting, by implementing complex projects all over the world, combining high quality and planning standards with a focus on multi-cultural and environmental issues. The Group, with a presence in 50 countries and 4 continents, currently owns 37 trading companies and can rely on a workforce of about 4,300 employees, more than half of whom are located abroad. At 31 December 2008, the Group reported Revenues of €2,463 million and Net income of €117 million.

Babcock Power Inc. (www.babcockpower.com), through its subsidiaries, is one of the world’s leading suppliers of technology, equipment, and services to the power generation industry. Babcock Power subsidiary companies include; Vogt Power International Inc.(Louisville, KY), Thermal Engineering International (USA) Inc. (Santa Fe Springs, CA), Babcock Power Environmental Inc, Riley Power Inc. and Babcock Power Services Inc.(Worcester, MA), Boiler Tube Company of America (Lyman, SC), and TEi Construction Services, Inc. (Duncan, SC).