Babcock and Wilcox Co. - 1938 dated Stock Certificate - Energy Technology and Service Provider

Stock printed by American Bank Note Company, New York. Babcock & Wilcox is a prominent American provider of energy technology and services, with a significant presence in various international markets and its headquarters located in Akron, Ohio, USA. The company is historically recognized for its steam boilers. Established in 1867 in Providence, Rhode Island, by partners Stephen Wilcox and George Babcock, the firm was created to manufacture and promote Wilcox's patented water-tube boiler. Among B&W's notable achievements are the installation of the world's first utility boiler in 1881, the production of boilers for New York City's inaugural subway in 1902, the establishment of the first pulverized coal power plant in 1918, and the design and manufacture of components for the USS Nautilus, the first nuclear-powered submarine, between 1953 and 1955. Additionally, they developed the first supercritical pressure coal-fired boiler in 1957 and supplied reactors for the NS Savannah, the first U.S.-built nuclear-powered surface ship, in 1961.

The company was founded with the goal of creating safer steam boilers, driven by Stephen Wilcox, Jr.'s belief that “there must be a better way” to generate power safely. This vision led to the development of the first inherently safe water-tube boiler. During World War II, B&W was the primary manufacturer of naval boilers for the U.S. military and contributed to the Manhattan Project. Following the war, the company ventured into the nuclear reactor sector, becoming a key supplier for commercial nuclear power plants and constructing naval nuclear reactors, including those for the first commercial nuclear ship. In 2000, the company faced bankruptcy due to lawsuits related to asbestos exposure but successfully emerged from this financial difficulty in 2006.