Ameren Energy Resources, B&W and Air Liquide Selected to Negotiate First Full-Scale Coal-Fired Power Plant with CO2 Capture

Ameren Energy Resources Company, LLC (AER) – the holding company for merchant generation for Ameren Corporation (NYSE: AEE); The Babcock & Wilcox Company (B&W) (NYSE: BWC); and Air Liquide Process & Construction, Inc. (Air Liquide), have been selected by the U.S. Department of Energy’s (DOE) clean coal power program to negotiate the installation of the world’s first full-scale oxy-coal-fired power plant that includes permanent carbon dioxide (CO2) capture and storage (CCS).

Proposed funding for the project – known as FutureGen 2.0 – would supplement the construction and operating costs of a 200-megawatt, near-zero emissions generating facility to be located at Ameren’s Meredosia Plant near Jacksonville, Ill.

The project is designed to produce clean energy from coal by capturing and storing approximately 1.3 million tons of CO2 each year, or 90 percent of the plant’s carbon dioxide emissions.

If the project is accepted and regulatory approvals are received, the next steps would be the negotiation of a cooperative agreement with DOE, followed by a six-month initial design process and analysis of costs. Construction is expected to begin in 2012 with a targeted completion date in the third quarter 2015. Construction of this new facility and its related components is expected to bring 900 temporary and permanent jobs to the Central Illinois area.

The AER plant would use an innovative oxy-coal carbon capture technology developed by B&W in collaboration with Air Liquide. The oxy-coal combustion process uses oxygen instead of air during combustion, producing flue gas composed of nearly pure CO2, which is suitable for compression and storage. B&W and Air Liquide have successfully pilot-tested oxy-coal combustion at B&W’s research facility in Alliance, Ohio, supported by Air Liquide’s technology developments at its R&D facility in Newark, Delaware.

“We’ve teamed up with B&W and Air Liquide on this important project for a number of reasons,” said Charles Naslund, president and chief executive officer of AER. “B&W’s oxy-coal combustion system, when coupled with Air Liquide’s ASU and CO2 purification and compression technologies, can reduce a plant’s carbon dioxide and other air emissions to near-zero levels.”

“This project is a major step forward for America’s clean energy future, and AER is an ideal project partner,” said B&W Chief Executive Officer Brandon Bethards. “Their commitment to the implementation of clean energy technologies and the production of low-cost power for their customers utilizing coal generation makes this an excellent opportunity for us.”

“Air Liquide is at the forefront of oxy-combustion technology, helping to make clean energy a reality,” said Chris Lloyd-Jones, chairman and CEO of Air Liquide Process and Construction, Inc. “We are proud to be working with the DOE, Ameren and B&W on this critical step toward viable clean energy solutions for the United States.”

B&W, AER and Air Liquide agree that support from the DOE program is critical to the success of the proposed repowering project.

About Ameren

Ameren’s non-rate-regulated operations include AER’s Ameren Energy Generating Company’s and Ameren Energy Resources Generating Company’s six coal-fired plants plus multiple natural gas-fired units and Ameren Energy Marketing, an energy marketing and trading operation. With assets of approximately $24 billion, Ameren companies serve 2.4 million electric customers and one million natural gas customers in a 64,000-square-mile area of Missouri and Illinois. Ameren owns a diverse mix of electric generating plants strategically located in its Midwest market with a generating capacity of 16,900 megawatts.

About B&W

Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 13,000 people, in addition to approximately 10,000 joint venture employees. Learn more at www.babcock.com.

Cautionary Statement Regarding Forward Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the scope and timing of the repowering project. These forward-looking statements involve a number of risks and uncertainties, including, among other things, adverse changes to the repowering project, including funding. If one or more of these or other risks materialize, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see B&W’s filings with the Securities and Exchange Commission. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. B&W undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

About Air Liquide

Air Liquide is the world leader in gases for industry, health and the environment, and is present in over 75 countries with 42,300 employees. Oxygen, nitrogen, hydrogen and rare gases have been at the core of Air Liquide’s activities since its creation in 1902. Using these molecules, Air Liquide continuously reinvents its business, anticipating the needs of current and future markets. The Group innovates to enable progress, to achieve dynamic growth and a consistent performance. www.airliquide.com