- Babcock & Wilcox Enterprises Inc (NYSE: BW) signed a cooperation agreement with Dallas-based Applied Blockchain Inc (OTC: APLD) to develop baseload power clean energy projects in the next three years to support cryptocurrency mining operations. The financial terms were not disclosed.
- These projects could result in up to 1.5 gigawatts of electrical generation capacity and will be a platform for using B&W’s solutions to support Applied Blockchain’s power needs.
- B&W’s clean energy capabilities include its ClimateBright suite of decarbonization technologies, including BrightLoop, which can use multiple fuels to produce clean hydrogen and waste- and biomass-to-energy technologies and solar installation services.
- Price Action: BW shares are trading higher by 3.5% at $8.88 during the premarket session on Thursday. APLD closed 4.35% lower at $3.30 on Wednesday.
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