What Thomassen Energy does

Thomassen Energy BV, operating under the trade name Hanwha Power, is a Netherlands-headquartered aftermarket gas turbine specialist serving power plant operators worldwide. Founded in 1886 in Arnhem and now headquartered in Rheden, the company operates a 5,100 m² engineering and manufacturing facility, with execution centers in the United States (Jupiter, Florida) and the United Arab Emirates (Abu Dhabi), and affiliates in South Korea and the Gulf. Since its July 2021 acquisition by Hanwha General Chemical (Hanwha Group), it has been unified with sister company PSM and Hanwha Power Systems under the Hanwha Power brand as of March 2026.

The company's product portfolio centers on three pillars: combustion systems (FlameSheet™ can-annular combustor, LEC III™ sub-5 ppm NOx system, T-DLN), digital solutions (AutoTune automated combustion tuning, FlexSuite optimization platform, 24/7 Monitoring & Diagnostics, TC7 control system), and lifecycle services (GTOP upgrades, ThomELT lifetime extension, rotor services, repair, remanufacturing, field services, and Long-Term Service Agreements). Technology is anchored by 100+ patents and 10+ million operating hours of field data across GE, Siemens, Mitsubishi, and other OEM B/E and F-class frames. Notable technical achievements include an industry-record 60% hydrogen co-firing demonstration in 2023 and the HELIOS EU-funded program targeting 100% hydrogen operation.

The business model is enterprise B2B with quote-based pricing, multi-year LTAs providing recurring revenue, and a mix of one-time retrofit/upgrade projects, hardware sales, and professional services. Go-to-market combines direct field sales through global execution centers with regional channel partners (Harlequin International in Africa, PE Energy in Nigeria, Simebest Corporation in Malaysia) and an annual Asset Managers Conference series. Primary customers are power plant operators seeking to extend asset life, improve heat rate, meet emissions standards, and increasingly to enable hydrogen fuel flexibility. With 100+ employees and stated track records of 350+ turbine upgrades and 800+ combustion and HGP sets delivered, Thomassen operates as a mid-sized, OEM-independent aftermarket alternative within Hanwha Group's broader clean energy strategy.

Name

Thomassen Energy

Legal name

Thomassen Energy BV

Website

https://thomassen.energy

Company type

Private

Founded year

1886

Operating status

Operating

Headcount range

51–100 employees

Short description

Thomassen Energy (operating as Hanwha Power) is a Netherlands-based aftermarket specialist providing gas turbine retrofits, upgrades, parts, and long-term service agreements to power plant operators worldwide, with proprietary combustion and digital-control technologies across multiple OEM platforms.

Ownership category

akta.pro rank

Product category

Gas Turbine Aftermarket Services

NAICS

Engine, Turbine, and Power Transmission Equipment Manufacturing (33361), Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Engines & Turbines (3510)

akta.pro primary industry

Thermal Power Plant O&M (Coal, Gas, Oil) (EUAEAGAA)

akta.pro secondary industry

Emissions Controls & Environmental Retrofit Services (SCR/FGD/ESP, CEMS) (EUAEALAL)

Keywords

• Gas turbine services
• Aftermarket retrofits
• Combustion systems
• Power plant upgrades
• Hydrogen combustion

Headquarters

HQ city

Rheden

HQ country

Netherlands

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Long-Term Service Agreements (LTAs): Flexible multi-year service contracts covering maintenance, parts, monitoring, and support for GE, Siemens, Mitsubishi B/E and F-type gas turbines. Includes dedicated customer service manager, 24/7 remote monitoring, and field service support.
2. Gas Turbine Parts and Components: New and reconditioned parts including rotors, compressors, combustion parts, hot gas path components, and OEM-equivalent components for B/E and F-class frames.
3. Remanufacturing Services: Complete remanufacturing of pre-owned gas turbines including overhauls, upgrades, testing, and thermal block exchange programs.
4. Field Services: On-site maintenance, emergency repairs, overhauls, combustion tuning, and commissioning for gas turbines, generators, and auxiliary equipment.
5. Retrofit and Upgrade Solutions: Performance and emission upgrades including FlameSheet™, LEC III™, GTOP, control system upgrades, and auxiliary system improvements.
6. Engineering Support: Power plant assessments, performance analysis, fuel system services, and technical consulting for gas turbine and balance of plant optimization.
7. Gas Turbine Relocation: Complete relocation services including inspection, mechanical installation, field wiring/piping, commissioning, and site-specific equipment installation.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Thomassen Energy (operating as Hanwha Power) is a clean energy solutions provider specializing in aftermarket services for heavy-duty gas turbines. The company delivers retrofits, upgrades, replacement parts, combustion systems (FlameSheet, LEC III, GTOP), digital control and monitoring solutions (TC7, AutoTune, FlexSuite), and long-term service agreements for GE, Siemens, Mitsubishi, and other OEM B/E-class and F-class gas turbine operators worldwide.

Product overview

Thomassen Energy (operating as Hanwha Power) offers a comprehensive portfolio of aftermarket gas turbine products and services organized into three core pillars: (1) Combustion Systems including FlameSheet™ for B/E/F-class turbines, LEC III™ Ultra Low Emission Combustion System, and T-DLN for sub-5ppm NOx; (2) Digital Solutions including AutoTune automated combustion tuning, FlexSuite optimization platform, Monitoring & Diagnostics (M&D) 24/7 services, and TC7 Control System; (3) Lifecycle Services including GTOP upgrades, ThomELT lifetime extension, rotor services (RLA/LTE/new build), repair, remanufacturing, field services, and Long-Term Service Agreements. The company supports multiple gas turbine frames (Frame 5, 6B, 9E, 9F, 6F, 7F, 501D, 501F) across GE, Siemens-Westinghouse, Mitsubishi, and other OEM platforms. The portfolio is unified by shared technology platforms (FlameSheet combustor, proprietary coatings, digital monitoring) and supports hydrogen blending up to 60% for decarbonization applications.

Differentiator

Problem solved

Functional benefit

Products and services

• FlameSheet™ Combustor System Revolutionary 2-in-1 can-annular combustor system for B, E, and F-class gas turbines delivering up to 30% increase in operating load range with single-digit NOx and CO emissions, supporting up to 60% hydrogen mixing.
• LEC III™ Ultra Low Emission Combustion System

Quantifiable outcome

• Up to 10% power increase and 3% improved heat rate with GTOP upgrades
• +8 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core, regional and strategic.

• Hanwha GroupcoreStrategic or Co-development Partner · 14 July 2021Parent company - Hanwha General Chemical, a division of Hanwha Group headquartered in South Korea, acquired Thomassen Energy in July 2021. Hanwha has long-term vision of leading transition to low carbon, sustainable energy with dominant status in global solar power market. Thomassen and PSM are key enablers in Hanwha's energy vision.
• PSM (Power Systems Manufacturing, LLC)coreStrategic or Co-development PartnerUS-based sister company and American gas turbine service company. Combined with Hanwha Power Systems to form unified Hanwha Power brand in March 2026. Together provides comprehensive aftermarket components and services for gas turbines.
• PSM Thomassen GulfcoreChannel Partner/ Reseller/ DistributorAffiliate operating in Abu Dhabi, UAE, providing local support and services in Middle East region. Part of Hanwha Power global network.
• Hanwha Power SystemscoreStrategic or Co-development PartnerAffiliate based in South Korea. Integrated with PSM to form unified Hanwha Power brand. Provides H2 Division expertise and complements European operations with Asian capabilities.
• Harlequin InternationalregionalChannel Partner/ Reseller/ DistributorAssociation with Harlequin International for inaugural Asset Managers Conference in Africa (June 2024, Ghana). Harlequin represents 17 customers from 7 countries operating power plants across Africa.
• PE Energy LtdregionalChannel Partner/ Reseller/ DistributorHost partner for AMC 2025 in Abuja, Nigeria. Partnership to explore substantial business opportunities and serve West African clientele better through localized services.
• Simebest CorporationregionalChannel Partner/ Reseller/ DistributorAssociation with Simebest Corporation for Asset Managers Conference in Kuala Lumpur, Malaysia (July 2024). Partnership to deliver annual conference in Asia market.
• HELIOS Consortium PartnersstrategicStrategic or Co-development PartnerEU-funded project consortium: Eindhoven University of Technology (NL), Centro Combustione Ambiente S.P.A. (IT), Deutsches Zentrum für Luft- und Raumfahrt DLR (DE), and Technische Universiteit Delft (NL). Developing hydrogen combustion technology for gas turbines beyond state-of-the-art.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Mitsubishi Heavy Industries (MHI) Service: Parent organization of Mitsubishi Power with broader industrial services capability. Comparable as both an OEM source for fleet compatibility and a competitor for service contracts on installed MHI units.
• GE Vernova: OEM of B/E and F-class frames (Frame 5/6B/6F/7F/9E/9F) with a large services business. Direct competitor on Frame 6B/9E/9F aftermarket where Thomassen is strongest.
• INNIO (Jenbacher & Waukesha): Provider of Jenbacher gas engines and Waukesha gas engines plus service. Adjacent competitor in industrial gas-powered generation, particularly in CHP and distributed generation segments.
• Mitsubishi Power: OEM of heavy-duty gas turbines (501F, 501G, etc.) with substantial aftermarket service operations. Comparable as a competitor in upgrade and LTA business, though broader portfolio and OEM-tied.
• Ansaldo Energia: Italian OEM of heavy-duty gas turbines (GT26, GT36) with service operations. Comparable on the AE94.2/AE64.1 fleet where Thomassen offers independent aftermarket solutions.
• Solar Turbines (Caterpillar): Manufacturer of industrial gas turbines (Mars, Centaur, Taurus series) with comprehensive service offerings. Comparable in gas turbine OEM and aftermarket, primarily at smaller frame sizes.
• Siemens Energy: OEM of SGT-series industrial and heavy-duty gas turbines with global service network. Competes with Thomassen on Siemens-platform retrofits and broader LTA opportunities.

Direct peers

• Sulzer: Swiss industrial engineering firm with a strong gas turbine service business covering rotating equipment, repairs, and upgrades. Comparable as a multi-OEM aftermarket and rotating-equipment services specialist serving power generation customers.
• EthosEnergy: Independent global provider of gas turbine aftermarket services, parts, and operations & maintenance support. Closely comparable as a multi-OEM independent service provider targeting the same operator pain points.
• Power Systems Manufacturing (PSM): US-based sister company under Hanwha Power providing gas turbine aftermarket services for heavy-duty frames. Now unified with Thomassen under Hanwha Power brand — most directly comparable peer in offering and OEM coverage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@PSM-Hanwha
• LinkedInlinkedin.com/company/thomassen-energy-bv

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Thomassen Energy