TPI Composites
TPI Composites is a Scottsdale-based pure-play manufacturer of composite wind turbine blades (30-80+ meters) for major OEMs including Vestas, Siemens Gamesa, and GE Vernova, with global production capacity in the US, Mexico, and India. The company filed Chapter 11 bankruptcy in August 2025 and is in active wind-down with assets being sold to its customers.
- Company typePublic
- Founded1968
- HeadquartersScottsdale, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What TPI Composites does
TPI Composites, Inc. is a Scottsdale, Arizona-based manufacturer of composite wind turbine blades (30 to over 80 meters in length) serving major wind turbine OEMs including Vestas, Siemens Gamesa, and GE Vernova. Founded in 1968 as Tillotson Pearson Inc. and pivoting to wind blade manufacturing in 2001, TPI operated an asset-light production model across facilities in the US, Mexico, and India (with stated annual capacity of 18-20 GW and 27% global onshore wind blade market share excluding China in 2024). The company manufactured over 100,000 blades since 2001 using fiberglass, carbon fiber, and advanced composite materials, applying a proprietary Model-Based Manufacturing approach that extracts production models directly from OEM design data.
The company's product portfolio centered on wind blades as the core offering, supported by precision molding and assembly systems, advanced quality inspection technologies (3D laser scanning, thermographic imaging, ultrasonic), global field services, and R&D collaboration with national labs on thermoplastic blade technology, 3D-printed tooling, and recycling initiatives. Revenue was generated through long-term supply agreements with a concentrated base of major wind turbine OEMs.
TPI is in severe financial distress: the company filed for voluntary Chapter 11 bankruptcy on August 11, 2025, in the U.S. Bankruptcy Court for the Southern District of Texas, secured up to $82.5 million in DIP financing from Oaktree Capital Management, and is now executing a wind-down strategy with assets sold to GE Vernova and Vestas at fire sale prices. Stock, once listed on Nasdaq as TPIC, now trades OTC as TPICQ at approximately $0.01 per share with market capitalization under $350,000, reflecting effective equity wipeout for public shareholders.
TPI Composites firmographics
Firmographics- Name
- TPI Composites
- Legal name
- TPI Composites, Inc.
- Website
- https://tpicomposites.com
- Company type
- Public
- Founded year
- 1968
- Operating status
- Closed
- Headcount range
- 1,001–5,000 employees
- Short description
- TPI Composites is a Scottsdale-based pure-play manufacturer of composite wind turbine blades (30-80+ meters) for major OEMs including Vestas, Siemens Gamesa, and GE Vernova, with global production capacity in the US, Mexico, and India. The company filed Chapter 11 bankruptcy in August 2025 and is in active wind-down with assets being sold to its customers.
- Ownership category
- akta.pro rank
TPI Composites industry classification
Industry- Product category
- Wind Turbine Blade Manufacturing
- akta.pro primary industry
- Wind Blades, Towers & Foundations Manufacturing (EUAMACAD)
- akta.pro secondary industries
- Wind Component Service, Repair & Refurbishment (Blades, Gearboxes, Bearings) (EUAMACAI), Advanced Wind Technology R&D (Floating Offshore, Airborne Wind, New Rotor/Blade Concepts) (EUAMAOAB), Wind Turbine Blade Recycling & Repurposing (Composite Processing) (EUAMALAC)
Keywords
Where TPI Composites is headquartered
LocationHeadquarters
- HQ city
- Scottsdale
- HQ country
- United States
- HQ region
- North America
Offices11 records
Markets served
TPI Composites business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure
Revenue model
- Wind Blade Manufacturing: TPI Composites generates revenue through the manufacture and sale of composite wind blades for utility-scale wind turbines. The company operates manufacturing facilities and sells blades directly to major wind turbine OEMs under long-term supply agreements. Revenue is generated from product sales with concentrated customer base of major manufacturers including Vestas, Siemens Gamesa, and GE Vernova.
- Field Services: Global field services including engineering, preventative services, inspection, non-destructive testing, repair, and improvements for wind blades. Services provided by experienced technicians across global operations.
- Precision Molding Systems: Design and fabrication of precision molding and assembly systems for wind blades, ranging from 30 meters to over 80 meters in length. Solutions include precision wind blade patterns, molding systems, component handling and quality assurance tools.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | B2B manufacturing agreements with major wind turbine OEMs |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
TPI Composites product offering
Product offeringCore offering
TPI Composites designs and manufactures large-scale composite wind turbine blades (30 to over 80 meters in length) for utility-scale onshore wind applications, producing under long-term supply agreements with major wind turbine OEMs including Vestas, Siemens Gamesa, and GE Vernova. The company also provides global field services covering engineering, inspection, non-destructive testing, repair, and preventative maintenance for installed wind blades. Supporting offerings include precision molding and assembly system fabrication, composite material solutions, and Model-Based Manufacturing tooling engineering.
Product overview
TPI Composites is a pure-play manufacturer of composite wind turbine blades operating an asset-light production model. The company produces advanced wind blades (30-80+ meters) for major OEMs including Vestas, Siemens Gamesa, and GE Vernova at manufacturing facilities in the US and Mexico. The product portfolio centers on wind turbine blade manufacturing as the core product, supported by complementary services including global field services (inspection, repair, maintenance), composite materials solutions, precision molding and assembly systems, advanced quality inspection using ultrasonic and laser scanning technologies, and R&D capabilities for manufacturing process innovation including 3D printed tooling and thermoplastic blade development. The company recently introduced BladeAssure™ technology program for manufacturing validation. With over 100,000 blades manufactured since 2001 and approximately 27% global onshore wind blade market share (excluding China), TPI operates as the only independent manufacturer of utility-scale wind turbine blades with a global footprint.
Differentiator
Problem solved
Functional benefit
Products and services
- Wind Turbine Blades Advanced composite wind turbine blades manufactured to customer specifications, ranging from 30 to over 80 meters in length, using fiberglass, carbon fiber, and other advanced composite materials for utility-scale onshore wind turbines. Sold to major wind turbine OEMs.
- Wind Blade Field Services Global field services offering engineering, preventative services, inspection and analysis using non-destructive methods, repair, improvements, and technician certifications for installed wind blades. Delivered to wind farm operators and OEMs by trained technicians worldwide.
- Precision Molding and Assembly Systems Design and fabrication of precision molding and assembly systems for wind blades ranging from 30 meters to over 80 meters in length, including precision wind blade patterns, molding systems, component handling, and quality assurance tools, delivered from the Warren, Rhode Island tooling technology center.
- BladeAssure™ A program that uses technology to control and validate the manufacturing of wind blades, designed to drive the industry's Gold Standard process in blade quality and consistency.
Quantifiable outcome
- 27% global onshore wind blade market share (excluding China)
- +4 more outcomes
Companies that use TPI Composites
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
TPI Composites technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
TPI Composites partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- GE VernovacoreAsset purchase agreements signed with Vestas entities to sell wind blade manufacturing operations in India ($10 million cash) and Mexico (100% reorganized equity for approximately $14 million plus assumption of liabilities). GE Vernova was acquiring assets through these transactions.
- Vestas Wind Systems A/ScoreVestas expanding wind energy assets through acquisition of assets from bankrupt TPI Composites. Deal involved factories in Mexico and India. Also entered Vendor Advance Agreement to advance funds to third-party suppliers for blade manufacturing.
- WindSTAR (NSF Industry/University Collaborative Research Center)coreFounding organization and industry leader for this Center of Excellence for wind energy research supported by National Science Foundation. Focuses on development of technologies that advance wind blade design, manufacturing and inspection.
- IACMI (Institute for Advanced Composite Manufacturing Innovation)coreFounding member of this U.S. National Network of Manufacturing Institutes established to reduce manufactured cost of composite products for wind blades, automotive components and compressed natural gas storage systems.
- Oak Ridge National LaboratorycorePartnership to build world's first set of utility-scale wind turbine molds using 3D printing technology. Combined expertise in advanced manufacturing techniques.
- Sandia National LaboratoriescoreFabricated multiple sets of blades for Sandia's National Rotor Testbed as part of 25+ year collaboration with U.S. Department of Energy and national laboratories.
- University of TennesseeminorCollaboration on developing recycled fiberglass combined with synthetic fiberglass to create yarn materials scaled for use in composite applications. TPI funded pilot scale equipment.
- University of DelawareminorPartnership on recovery of carbon fibers through pultrusion to be reused in wind turbine blades.
- RecycleWind ConsortiumminorPublicly funded research consortium (2019-2022) aimed at developing resilient recycling networks for wind turbines and blades. Developed Environmental Product Declarations for TPI wind blades.
- U.S. Department of Energycore25+ year partnership focusing on expansion of clean wind energy through industry leading design, manufacturing and testing of wind blades. Multiple active projects including wind blade recycling and sustainable materials.
Scale indicators12 records
Recent moves11 records
Expansion highlights5 records
TPI Composites competitors and assessment
Company assessmentBroad incumbents
- ENERCON: German wind turbine OEM with long-standing in-house composite blade manufacturing expertise. Comparable to TPI's technology stack and market focus on utility-scale onshore wind in Europe.
- Vestas Wind Systems: Global #1 wind turbine OEM that both purchased TPI's India business and produces wind blades in-house. Comparable as both a customer of TPI and a vertically integrated manufacturer using the same composite molding processes.
- Siemens Energy (Gamesa): Major Western wind turbine OEM with substantial in-house blade manufacturing. Comparable to TPI's customer base and as a manufacturer of large composite blades for onshore and offshore wind.
- GE Vernova: Major Western wind OEM and acquirer of TPI's Mexico assets. Operates its own blade plants via LM Wind Power and competes with TPI on OEM supply, while also being the customer reopening TPI's Newton, Iowa factory.
Regional players
- Mingyang Smart Energy: Major Chinese offshore and onshore wind OEM with significant in-house blade manufacturing capacity. Comparable in producing large composite blades but predominantly serves the Chinese market.
- Sinoma Wind Power Blade: One of the largest Chinese wind blade manufacturers supplying domestic OEMs such as Goldwind and Mingyang. Comparable in core composite blade manufacturing, but primarily serves the China market that TPI excluded.
- Goldwind: Leading Chinese wind turbine OEM with integrated blade manufacturing. Operates in the same composite wind blade technology domain but primarily serves Asia-Pacific and competes with Western OEMs TPI supplies.
- Suzlon Energy: India's largest wind turbine OEM with in-house composite blade production. Comparable as an Asia-based vertically integrated blade and turbine manufacturer competing in the same utility-scale wind segment.
Direct peers
- LM Wind Power: LM Wind Power (a GE Vernova subsidiary) is the world's other major independent wind blade manufacturer with global factories serving the same set of Western OEMs that TPI supplied. Both compete head-to-head on utility-scale blade design and supply agreements.
Emerging players
- Aeris Energy: India-based wind blade manufacturer emerging as an alternative supplier in the Indian market where TPI had significant operations. Comparable in producing composite blades for utility-scale turbines and benefiting from TPI's distress.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
TPI Composites social profiles
Digital presenceTPI Composites compliance and trust
Trust signalCompliance3 records
TPI Composites financial estimates
Financial estimateRevenue estimate
Valuation estimate
TPI Composites leadership team
Management profileNumber of profiles
Profiles7 records
TPI Composites subsidiaries and ownership
Company hierarchySubsidiaries1 record
TPI Composites funding detail
Funding detailFunding overview
Funding rounds7 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TPI Composites M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TPI Composites
What does TPI Composites do?
TPI Composites designs and manufactures large-scale composite wind turbine blades (30 to over 80 meters in length) for utility-scale onshore wind applications, producing under long-term supply agreements with major wind turbine OEMs including Vestas, Siemens Gamesa, and GE Vernova. The company also provides global field services covering engineering, inspection, non-destructive testing, repair, and preventative maintenance for installed wind blades. Supporting offerings include precision molding and assembly system fabrication, composite material solutions, and Model-Based Manufacturing tooling engineering.
Is TPI Composites a public or private company?
TPI Composites is a public company. It is classified as public and is currently closed.
When was TPI Composites founded?
TPI Composites was founded in 1968. It employs 1,001 to 5,000 people.
Where is TPI Composites based?
TPI Composites is headquartered in Scottsdale, United States, in the North America region.
How does TPI Composites make money?
Three revenue lines are on record. Wind Blade Manufacturing is the primary driver. The others are field Services and precision Molding Systems.
Who are TPI Composites's main competitors?
Broad incumbents on record are ENERCON, Vestas Wind Systems, Siemens Energy (Gamesa) and GE Vernova. Regional players are Mingyang Smart Energy, Sinoma Wind Power Blade, Goldwind and Suzlon Energy. LM Wind Power is listed as a direct peer. Aeris Energy is listed as an emerging player.
Does TPI Composites have an API?
No public API is recorded for TPI Composites.
What industry is TPI Composites in?
TPI Composites's product category is Wind Turbine Blade Manufacturing. Its primary akta.pro industry code is EUAMACAD, Wind Blades, Towers & Foundations Manufacturing, with a secondary code of EUAMACAI, Wind Component Service, Repair & Refurbishment (Blades, Gearboxes, Bearings).