Pins matching place:"Summit County"

Babcock & Wilcox and Denham Capital's Sustainable Infrastructure arm will jointly convert existing coal-fired plants, largely to natural gas, to power data centres in the US and Europe. B&W supplies the engineering and technology; Denham leads development and financing. No plant is named yet, so the pin sits at B&W's Akron headquarters.

B&W sold its Allen-Sherman-Hoff ash-handling business to a subsidiary of Austria's Andritz for $29 million, a step to finish paying down its debt and focus on power generation, including plants for AI data centres. B&W keeps selling A-S-H and Diamond Power products to utilities as Andritz's sales representative.

B&W sold $67.5 million of new shares through its at-the-market program in two days, about $50 million of it to a single institutional investor, then paused the sales. The money backs its move into power for AI factories and data centres.

Babcock & Wilcox received a limited notice to proceed on engineering and long-lead purchasing for a SolveBright CO2-capture system at an unnamed existing US power plant, sized to capture more than 550,000 tons a year. The full contract, expected by March 2026, is worth an estimated $80 million; the plant is not named, so the pin sits at B&W's Akron headquarters.

B&W will supply low-pressure wet gas scrubbing, ExxonMobil technology it licenses, to cut sulfur dioxide from a major Canadian petroleum refinery's catalytic cracker and coker units. The $40 million contract adds $30 million to a $10 million first order from September.

Fourth-quarter revenue was $161.0 million and adjusted EBITDA $16.4 million, and full-year 2025 adjusted EBITDA rose 107% to $43.7 million. Backlog reached $2.8 billion with the $2.4 billion Base Electron AI data-centre power project announced the same morning.

First-quarter revenue rose 44% to $214.4 million and adjusted EBITDA rose 296% to $16.1 million, while $81.8 million of non-cash warrant and stock costs left a $79.6 million net loss. Backlog stood at $2.7 billion and the pipeline passed $14 billion.

B&W sold 12.4 million new shares at $18.50 each, raising about $230 million with the underwriters' extra shares, and Applied Digital bought about 540,500 of them. The money is meant to expand steam turbine and boiler production for AI data centre power plants.

B&W's board authorised buying back up to $50 million of its common stock, starting after its second-quarter 10-Q, with no expiry date and subject to its lenders. The same day it called its last $61.4 million of 2026 notes for redemption.

Revenue rose 130% to $319.7 million, $100.7 million of it from the Base Electron data-centre power project, and B&W swung to a $14.3 million net profit. It raised the top of its 2026 adjusted EBITDA target range to $105 million.

Babcock & Wilcox signed for Siemens Energy to start work on 20 steam turbine generator sets of 50 MW each, 1 GW in all, for its FastPower data-centre program, on top of the turbines already ordered for the Applied Digital project.

B&W redeemed all $61.4 million of its 6.50% Senior Notes due 2026 at full face value plus interest, so none of them remain outstanding. Its CFO said the company now has its strongest balance sheet in recent history.

Babcock & Wilcox received a limited notice to proceed on an approximately $130 million air quality control project for an unnamed US coal-fired power plant, starting engineering and long-lead purchasing, with its construction arm expected to install it. The plant is not named, so the pin sits at B&W's Akron headquarters.

B&W's third-quarter 2026 report and its 5 p.m. ET call, estimated for Monday 9 November from its pattern of Monday-evening calls; the company has not announced the date yet. The quarter will be measured against its raised $80-105 million 2026 adjusted EBITDA target.