Pins matching tag:"Applied Digital"

Babcock & Wilcox signed a limited notice to proceed on a project valued at over $1.5 billion to design and install four 300 MW gas-fired boiler and steam turbine plants for an Applied Digital AI Factory, its entry into AI data-centre power.

Babcock & Wilcox chose Siemens Energy to supply the steam turbine generator sets for its one-gigawatt Applied Digital power project, under a limited notice to proceed it said would let it deliver power by the end of 2028.

Babcock & Wilcox received full notice to proceed on a $2.4 billion design-build contract with Base Electron, an Applied Digital-backed power producer, for 1.2 GW of gas-fired boiler and steam turbine capacity to supply Applied Digital AI Factory campuses.

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.

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.

The 1,200 MW gas-fired plant Babcock & Wilcox is building for Base Electron near Center, North Dakota, to power Applied Digital's AI data centres is now due to run in 2030, after B&W first promised power by the end of 2028.