06:10 AM EST, 11/05/2025 (MT Newswires) -- Babcock & Wilcox Enterprises ( BW ) shares were up more than 28% in Wednesday's premarket activity after agreed to a limited notice to proceed for a $1.5 billion project to deliver one gigawatt of power for an Applied Digital (APLD) AI Factory.

Under the deal, B&W will design and install the plant's four 300-megawatt natural gas-fired power plants consisting of proven boilers and associated steam turbines in time for a 2028 launch, the company said.

Full contract release for the Applied Digital ( APLD ) project is anticipated in Q1.

The company also sold its Allen-Sherman-Hoff subsidiary of Austria-based Andritz for $29 million while continuing to market A-S-H and Diamond Power products and services.

The company also said Tuesday that it has issued a notice of redemption for all $26 million worth of its 8.125% senior notes due 2026 at a redemption price equal to 100% of the principal amount plus any accrued and unpaid interest.