GE Vernova

What GE Vernova does

GE Vernova is a global energy technology company that designs, manufactures, and services equipment for electric power generation, transmission, and distribution. Spun off from General Electric in April 2024 and listed on the NYSE under ticker GEV, the company operates through four business segments: Power (gas, hydro, steam, and nuclear including the BWRX-300 SMR developed through the GE Hitachi joint venture), Wind (onshore and offshore turbines plus LM Wind Power blades), Electrification (Grid Solutions, Electrification Software including GridOS, Power Conversion & Storage, and the recently consolidated Prolec GE), and Accelerators (Advanced Research, Consulting, and Financial Services). Its core technology stack spans HA-class gas turbines (7HA/9HA) holding world combined-cycle efficiency records, the BWRX-300 small modular reactor, 3.8 MW onshore and Cypress offshore wind platforms, HVDC and grid hardware, and software platforms (GridOS, CERius) augmented by digital services and Direct Air Capture technology.

The company generates revenue through a mix of capital equipment sales (gas turbines, SMRs, wind turbines, transformers, switchgear), recurring long-term service agreements (LTSAs) on the installed fleet, software subscriptions (GridOS, Electrification Software), project financing via GE Vernova Financial Services, and consulting/engineering services. GE Vernova employs approximately 85,000 people across roughly 100 countries and serves utilities, independent power producers, hyperscalers/data center operators (Microsoft, Crusoe, Blue Energy), governments/state-owned enterprises, and energy-intensive industrials (mining, oil & gas). Pricing is quote-based and negotiated per project, with multi-year service contracts providing recurring revenue visibility.

GE Vernova's $163B backlog ($113B equipment + $50B services as of Q1 2026) and 100+ GW of HA-class slot reservations through 2030 reflect a business benefiting from rising electricity demand driven by AI/data centers, grid modernization, and decarbonization. The company is executing a clear growth strategy anchored by the $5.275B Prolec GE acquisition (February 2026), expansion into AI-powered data center power via Project Kilby and hyperscaler alliances, advancing the BWRX-300 SMR through regulatory milestones in Canada, the U.S., and Europe, and a multi-year capacity expansion across U.S., European, and Asian manufacturing footprints. Reported FY2025 revenue of $38.1B and FY2026 guidance of $44.5–$45.5B underscore a strong growth trajectory backed by a diversified backlog and accelerating order momentum.

Name

GE Vernova

Legal name

GE Vernova Inc.

Website

https://gevernova.com

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

GE Vernova is a global energy technology company spun off from GE in 2024, providing power generation equipment (gas turbines, SMRs, wind, hydro), grid solutions, and financial services to utilities, hyperscalers, IPPs, and industrial customers across approximately 100 countries.

Ownership category

akta.pro rank

Product category

Power Generation Equipment

NAICS

Electric Power Generation (22111), Wind Electric Power Generation (221115), Hydroelectric Power Generation (221111), Turbine and Turbine Generator Set Units Manufacturing (333611), Engine, Turbine, and Power Transmission Equipment Manufacturing (3336)

SIC

Engines & Turbines (3510), Motors & Generators (3621), Switchgear & Switchboard Apparatus (3613), Power, Distribution & Specialty Transformers (3612)

akta.pro primary industry

Power Electronics & Grid-Forming Controls (Inverters, STATCOM/SVC, HVDC, FACTS) (EUAMAIAD)

akta.pro secondary industries

Energy Management Systems & Plant Controllers (PPC, AGC Participation, Curtailment Control) (EUAMAIAI), Turbines, Generators & Hydromechanical Equipment Manufacturing (OEMs) (EUACAEAH), Microgrid & Distributed Grid Equipment (Controllers, Switchgear Packages, DER Interconnection) (IMAGAAAJ), DERMS/ADMS & Grid Operations Software Integration (Dispatch, Constraint Mgmt) (EUAMAIAG)

Keywords

• Power generation equipment
• Wind turbines
• Grid solutions
• Nuclear reactors
• Electrification systems

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices26 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Power Equipment Sales (Gas, Nuclear, Hydro): One-time hardware revenue from sale of heavy-duty gas turbines (HA-class), nuclear (BWRX-300 SMR), and hydropower equipment to utilities and IPPs. Large projects delivered over multi-year construction periods; Q1 2026 Power orders $10.4B with $51B backlog.
2. Wind Equipment Sales (Onshore & Offshore): Sale of onshore (3.x MW Sierra, 3.8 MW) and offshore (Cypress 5.5 MW, 18 MW) wind turbines, including associated engineering, procurement, and commissioning services.
3. Long-Term Service Agreements (LTSAs) & Services: Recurring multi-year service contracts covering outage maintenance, parts, repairs, and digital performance upgrades for installed fleet of gas, steam, wind, hydro, and nuclear assets. This is the largest recurring revenue stream and a key driver of services margin.
4. GE Vernova Financial Services: Capital investments, lending, leasing, and tailored project financing solutions for energy projects. Includes equity investments in renewable and gas power projects; supports deal-making and project development.
5. Grid Solutions & Electrification Equipment: Sale of transformers, HVDC systems, switchgear, FACTS/STATCOMs, and grid software (GridOS, Grid IQ) to utilities, transmission operators, and large energy users.
6. Grid Software & Digital Subscriptions: Recurring and consumption-based revenue from GridOS platform, Electrification Software, CERius emissions software, and digital twin / asset performance management offerings.
7. Carbon Capture & Direct Air Capture Technology: Revenue from sales/licensing of carbon capture hardware and DAC technology to industrial emitters and project developers, including long-term service and consumables.
8. Professional & Engineering Services: Consulting, engineering, installation, commissioning, and aftermarket consulting services for power, wind, and grid customers.

Pricing tiers

Go-to-market motion5 records

Distribution channels5 records

Marketing channels9 records

Core offering

GE Vernova designs, manufactures, and services power generation equipment and grid solutions for utilities and industrial customers across gas, hydro, nuclear, steam, and wind power. The company also provides electrification hardware and software — including grid orchestration platforms, transformers, power conversion, and storage — to support the global energy transition.

Product overview

GE Vernova operates as a platform-plus-modules architecture organized into four business segments: Power (Gas Power, Hydro Power, Nuclear Power, Steam Power), Wind (Offshore Wind, Onshore Wind, Wind Turbine Blades), Electrification (Electrification Software, Grid Solutions, Power Conversion & Storage, Prolec GE), and Accelerators (Advanced Research, Consulting Services, Financial Services). The company is approximately 85,000 strong across about 100 countries, with offerings spanning the full energy value chain from power generation through transmission and distribution. Recent product launches include GridOS for Transmission (June 2026), the 3.8 MW workhorse turbine for the Indian market (June 2026), the LM6000VELOX aeroderivative gas turbine for distributed power, and a series of new HA-class gas turbine orders. The Prolec GE acquisition (completed February 2026) consolidated the Electrification segment, and the Robotech Automation acquisition (announced May 2026) is set to accelerate robotics and automation capabilities. GE Vernova's H-class gas turbine portfolio is the world's fastest-growing fleet in its class with more than 200 units ordered by 55+ customers across 25+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• GE Vernova Hitachi Nuclear Energy (GVH): Joint venture for nuclear power including BWRX-300 small modular reactor
• LM Wind Power
• GridOS
• CERius
• Prolec GE

Products and services

• Gas Power Gas turbine portfolio including HA-class, F-class, E-class, and B-class units, plus aeroderivative turbines, for utilities and industrial power generation customers. Includes long-term service agreements (LTSAs), upgrades, and outage management.
• Hydro Power Hydroelectric turbines, generators, and pumped-storage solutions for utility and industrial hydropower projects.
• Nuclear Power (BWRX-300) Boiling Water Reactor 300 (BWRX-300) small modular reactor (SMR) and associated services for utilities and state-owned power companies pursuing new nuclear capacity.
• Steam Power Steam turbines and generators for utility-scale and industrial steam power applications.
• Onshore Wind Onshore wind turbines for utility-scale and distributed wind projects, including service and digital offerings.
• Offshore Wind (Cypress) Offshore wind platform — Cypress platform — designed for large-scale offshore wind farms serving utility and developer customers.
• LM Wind Power Blades Wind turbine blade design, manufacturing, and service under LM Wind Power for wind OEMs and operators.
• GridOS for Transmission Grid orchestration software platform for transmission system operators that manages distributed energy resources, renewables, and grid reliability at scale.
• Grid Solutions High-voltage equipment including switchgear, transformers, HVDC systems, and grid automation products for transmission and distribution operators.
• Power Conversion & Storage Power conversion systems, energy storage solutions, and electrical systems for industrial, marine, and renewable applications.
• Prolec GE Transformers Distribution and power transformers supplied via the Prolec GE joint venture for utility and industrial customers.
• CERius Hydrogen Digital Platform Digital platform supporting hydrogen production project development, performance optimization, and operations management.
• GE Vernova Financial Services Financing solutions, including leasing and structured finance, for GE Vernova's power generation and grid equipment customers.
• GE Vernova Consulting Services Consulting and advisory services for power and grid operators covering reliability, decarbonization, and digital transformation initiatives.
• GE Vernova Advanced Research Research arm focused on next-generation energy technologies, materials science, and decarbonization breakthroughs.

Quantifiable outcome

• 62.22% net combined-cycle efficiency world record at Bouchain (EDF) in 2016 (9HA, 50 Hz)
• +8 more outcomes

Named customers29 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability5 records

Feature10 records

Partnerships

20 partnerships are on record, tiered flagship, core and minor.

• Prolec GE / XignuxflagshipStrategic or Co-development PartnerGE Vernova completed its $5.275 billion acquisition of Prolec GE — its joint venture with Xignux — in February 2026. The deal adds ~10,000 employees, a major North American transformer manufacturing footprint, and positions GE Vernova as a global leader in distribution transformers. The transaction significantly expands GE Vernova's Grid Solutions and Electrification capacity to address AI / data center power demand.
• Microsoft & Chevron (Project Kilby)flagshipStrategic or Co-development PartnerGE Vernova, Microsoft, and Chevron are co-developing Project Kilby, a multi-gigawatt combined-cycle power project (including carbon capture) designed to serve Microsoft's AI / data center electricity demand. The project involves Solar Turbines (a Caterpillar subsidiary) gas turbines and is one of the largest single AI-power procurements announced.
• Xcel EnergyflagshipStrategic or Co-development PartnerIn February 2026, GE Vernova and Xcel Energy signed a multi-year Strategic Alliance Agreement covering collaboration on new gas, nuclear (SMR), and grid technologies. The alliance supports Xcel's clean energy transition and GE Vernova's first-of-a-kind deployments, including small modular reactors, hydrogen-capable gas turbines, and grid modernization.
• Hitachi (GE Hitachi Nuclear Energy)flagshipStrategic or Co-development PartnerGE Vernova's BWRX-300 SMR is developed and commercialized through GE Hitachi Nuclear Energy (GEH), a joint venture with Hitachi. The partnership is pursuing SMR deployments in Canada (OPG Darlington), the U.S. (TVA), and a recent MoU for Southeast Asia. GE Hitachi also supports decommissioning and large-scale reactor services.
• Velan Inc.coreTechnology or IntegrationGE Vernova and Velan signed an MoU to develop and supply BWRX-300 SMR-grade valves. The collaboration supports the supply chain for global BWRX-300 deployments and reinforces the SMR's North American supply base.
• AFRY (BWRX-300 SMR deployment)coreImplementation/ SI/ Consulting PartnerAFRY is collaborating with GE Vernova to deliver engineering and consulting services for BWRX-300 SMR deployments, supporting licensing, engineering design, and project management for SMR owners and operators.
• IHI CorporationcoreStrategic or Co-development PartnerGE Vernova and IHI Corporation are co-developing ammonia combustion technology for heavy-duty gas turbines as part of a multi-year agreement to enable lower-carbon power generation from existing and new gas turbine fleets.
• MIT (Massachusetts Institute of Technology)coreStrategic or Co-development PartnerGE Vernova announced a $50 million multi-year alliance with MIT to advance research in energy transition, decarbonization, and grid technologies, including AI / data center power, advanced nuclear, and carbon capture.
• Engine No. 1 & JoulentflagshipStrategic or Co-development PartnerGE Vernova is partnering with Engine No. 1-backed Joulent to deliver multi-gigawatt power solutions for AI data centers, combining GE Vernova's gas turbine, SMR, and grid technology with Joulent's project development. Announced as part of broader Project Kilby ecosystem.
• JCBL South (Manufacturing partner, India)coreChannel Partner/ Reseller/ DistributorGE Vernova partners with JCBL South in India as a local manufacturing partner, supporting production of locomotive and power equipment components in the Indian market.
• PT GE Nusantara Turbine Services (PT GENTS)coreStrategic or Co-development PartnerPT GENTS is a joint venture in Indonesia providing turbine services and support for GE Vernova's installed gas turbine base in Southeast Asia, including outage, parts, and repair services.
• GESAT (GE Saudi Advanced Turbines)coreOEM/ Whitelabel/ Licensing PartnerGESAT is a Saudi joint venture between GE Vernova and Saudi partners producing 7HA.03 gas turbines locally in Dammam to serve regional power demand.
• Blue Energy (Texas SMR + gas project)coreStrategic or Co-development PartnerGE Vernova and Blue Energy are co-developing a combined SMR and gas turbine power project in Texas to supply an AI data center campus, blending nuclear and gas generation.
• Crusoe AIcoreStrategic or Co-development PartnerGE Vernova is supplying gas turbines to Crusoe for AI data center power campuses, supporting Crusoe's vertical integration of compute and power.
• Caterpillar (Solar Turbines)coreStrategic or Co-development PartnerCaterpillar's Solar Turbines is supplying gas turbines to GE Vernova-led Project Kilby. Solar Turbines is a strategic aeroderivative turbine partner for AI / data center power projects.
• Woodward, Inc.minorOthersGE Vernova acquired the combustion parts business from Woodward, Inc., strengthening its gas turbine aftermarket capabilities.
• Powerica Ltd (Botad Wind Farm)coreStrategic or Co-development PartnerGE Vernova supplied 3.x MW wind turbines to Powerica for the Botad Wind Farm in Gujarat, one of the largest single-site wind projects in India.
• BUMA (Indonesia)coreImplementation/ SI/ Consulting PartnerGE Vernova is supplying 6F.01 gas turbines to BUMA, an Indonesian mining customer, for on-site power supply supporting mining operations.
• Korea Electric Power Corporation (KEPCO) & Korea Hydro & Nuclear Power (KHNP)coreStrategic or Co-development PartnerGE Vernova engaged with KEPCO and KHNP at the Korea-U.S. energy forum on grid and nuclear cooperation, supporting SMR and grid technology collaboration.
• Avista UtilitiescoreStrategic or Co-development PartnerGE Vernova and Avista signed an MoU for the refurbishment of the Long Lake hydropower project in Washington, increasing output and modernizing equipment.

Scale indicators13 records

Recent moves13 records

Expansion highlights7 records

Emerging players

• Rolls-Royce SMR: Rolls-Royce SMR is the leading Western competitor to GE Vernova's BWRX-300 in the small modular reactor market, with active U.K. program status and shortlisted by Vattenfall for the Värö Peninsula project. A direct emerging competitor in the same SMR category.
• NuScale Power: NuScale Power is the only publicly listed pure-play U.S. SMR developer with NRC-certified design, competing for similar hyperscaler and utility SMR opportunities as GE Vernova's BWRX-300. Smaller scale and recent project cancellations highlight execution risk but it remains a relevant emerging peer.

Broad incumbents

• ABB: ABB competes with GE Vernova in electrification, switchgear, transformers, and grid automation for utilities and industrial customers. ABB has overlapping product categories but a broader portfolio across process industries and robotics.
• Schneider Electric: Schneider Electric is a broad incumbent in electrification, grid software, and industrial automation. It overlaps with GE Vernova's Electrification Software (GridOS) and Power Conversion businesses and serves similar utility and data-center customers with a wider portfolio.
• Eaton: Eaton is a major incumbent in electrical components, power distribution, and transformers — directly comparable to GE Vernova's Prolec GE and Grid Solutions portfolios. Eaton serves the same utility, data center, and industrial customers with broader portfolio coverage.
• Hitachi Energy: Hitachi Energy is the global leader in HVDC, transformers, and grid automation — directly comparable to GE Vernova's Grid Solutions. As Hitachi is also GE Vernova's JV partner (GE Vernova Hitachi Nuclear Energy), it is both a competitor in grids and a partner in nuclear/SMR.

Direct peers

• Siemens Energy: Siemens Energy is the closest direct competitor to GE Vernova across gas turbines (SGT-9000HL), grid (HVDC, transformers), and wind (Siemens Gamesa). Both companies compete head-to-head for HA-class orders and major utility contracts globally, and both are exposed to the same AI data-center power demand tailwind.
• Vestas Wind Systems: Vestas is the world's largest onshore wind turbine manufacturer and a direct competitor to GE Vernova's onshore wind business, with overlapping U.S., Indian, and European customer bases. Vestas is a comparable on technology (workhorse platforms), PTC exposure, and service annuity.
• Caterpillar (Solar Turbines): Caterpillar's Solar Turbines division competes directly with GE Vernova's aeroderivative (LM2500/LM6000) and small industrial gas turbines. Solar Turbines is also a partner on Microsoft/Project Kilby, making it a partial co-bidder and competitor in distributed and AI data-center power.
• Mitsubishi Heavy Industries: Mitsubishi Heavy Industries competes directly with GE Vernova's HA-class gas turbines via its M501JAC and is a major OEM in thermal, nuclear, and turbomachinery. MHI is a key competitor in Japan and Asia and a co-bidder on many global combined-cycle projects.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/GE_Vernova
• YouTubeyoutube.com/@gevernova
• Facebookfacebook.com/gevernova
• LinkedInlinkedin.com/company/gevernova
• Instagraminstagram.com/gevernova

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries8 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GE Vernova