Turboatom

What Turboatom does

AT 'Ukrenergomashyny' (formerly Turboatom and Elektrovazhmash, merged in 2019/2021) is a Kharkiv-based heavy industrial manufacturer of power generation equipment, founded in 1934 and majority-owned (75.22%) by the State of Ukraine through the State Property Fund. The company designs, manufactures, assembles, tests, and commissions steam turbines for thermal and nuclear power plants, hydraulic turbines and hydrogenerator-motors (40–420 MW range) for hydroelectric and pumped-storage stations, block-module steam turbine condensers with stainless steel and titanium cooling tubes for nuclear applications, titanium alloy BT6 working blades for 1000 MW turbines, hydraulic gates, and complementary traction electric motors and large rotating machines for rail and industrial customers. Its proprietary welded-rotor technology, developed jointly with the E.O. Paton Institute of Electric Welding, supports rotors above 200 tons and is recognized as a national technological achievement; the in-house Specialized Design Bureau 'Turbogidromash' executes the full R&D-to-commissioning cycle.

The company's go-to-market is direct enterprise sales through international tenders and negotiated multi-year contracts with power utilities, with no intermediaries. Pricing is project-specific under tender frameworks, with documented contracts in the 500M UAH range (e.g., the January 2019 506.1M UAH NAEC Energoatom titanium-blade contract). Customer segments are dominated by Ukrainian state utilities — NAEC Energoatom (nuclear) and Ukrhydroenergo (hydroelectric) — supplemented by international nuclear and hydro clients in Armenia, Hungary, Kazakhstan, India, and Bulgaria, plus municipal transport (Kyiv tram system). Revenue streams are hardware sales of capital equipment and professional services for modernization, retrofit, installation supervision, commissioning, and lifecycle maintenance, with documented modernization outcomes such as 25 MW capacity uplift at South Ukraine NPP Unit 3 and ~93.5% efficiency post-DniproGES-2 reconstruction.

Commercial operations are supported by long-term R&D and supply partnerships, notably an indefinite cooperation agreement with the Paton Institute (April 2019), a memorandum with Toshiba Energy Systems (2018), framework cooperation with the National Academy of Sciences of Ukraine, and education partnerships with NTU KhPI and UkrDZIT. The company is ISO 9001:2015 certified, received the 2018 State Prize of Ukraine for nuclear condenser technology, and employs approximately 3,590 workers as of March 2019 (with continued active recruitment through 2025–2026). Equipment manufactured by the company operates in 61 countries with a cumulative installed capacity of 160 million kW across 2,000 turbines over its 90-year history.

Name

Turboatom

Legal name

Акціонерне товариство "Українські енергетичні машини"

Website

https://ukrenergymachines.com

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

AT 'Ukrenergomashyny' (formerly Turboatom and Elektrovazhmash) is a Kharkiv-based, Ukrainian state-owned heavy industrial manufacturer designing and producing steam turbines, hydraulic turbines, hydrogenerator-motors, and condensers for nuclear, thermal, and hydroelectric power utilities in Ukraine and 60+ countries.

Ownership category

akta.pro rank

Product category

Power Generation Equipment

NAICS

Turbine and Turbine Generator Set Units Manufacturing (333611), Power Boiler and Heat Exchanger Manufacturing (33241)

SIC

Engines & Turbines (3510), Motors & Generators (3621)

akta.pro primary industry

Steam Turbines & Turbogenerators (IMAHAFAB)

akta.pro secondary industries

Turbines, Generators & Hydromechanical Equipment Manufacturing (OEMs) (EUACAEAH), Nuclear Steam Supply System Components & Turbine Islands (IMAHAFAG), Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

Keywords

• Steam turbine manufacturing
• Hydraulic turbine equipment
• Power generation machinery
• Hydrogenerator motors
• Nuclear power equipment

Headquarters

HQ city

Kharkiv

HQ country

Ukraine

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Power Equipment Manufacturing: Design, manufacturing, and supply of heavy energy equipment including steam turbines, hydraulic turbines, generators, and related components for power plants. Revenue from large-scale industrial contracts with utilities and energy companies.
2. Modernization and Reconstruction Services: Retrofitting and modernization of existing power equipment for extended operation and improved performance at nuclear, thermal, and hydroelectric stations.
3. Technical Support and Maintenance: Supervision during installation, commissioning, and ongoing technical engineering support for equipment throughout its operational lifecycle.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Turboatom (AT "Укренергомашини") designs, manufactures, assembles, tests, and ships large-scale power generation equipment including steam turbines for thermal and nuclear power plants, hydraulic turbines and hydrogenerator-motors for hydroelectric and pumped-storage stations, turbine condensers, and traction electric motors for railway and urban transport. The company operates a full-cycle production capability from R&D and design through manufacturing, testing, installation, and lifecycle maintenance.

Product overview

АТ 'Укренергомашини' (formerly Turboatom and Elektrovazhmash) is a heavy industrial enterprise offering a comprehensive portfolio of power generation equipment centered around two core product families: steam turbines (парові турбіни) for thermal and nuclear power plants, and hydraulic turbines (гідротурбіни) for hydroelectric and pumped-storage power plants. The company also manufactures complementary power equipment including turbine condensers, traction electric motors for rail and urban transport, and hydrogenerator-motors. Supporting the core product portfolio are manufacturing services including mechanical assembly, welding production (including specialized rotor welding of 200+ tonne components), metallurgical production (casting and forging), and a testing center for quality verification. Products are produced through a full closed-loop cycle from research and design through manufacturing, assembly, testing, and commissioning (supervision, start-up, and adjustment). The company operates specialized design bureaus: SKB 'Turbogidromash' for hydraulic machinery and a specialized SKB for steam turbines and generators.

Differentiator

Problem solved

Functional benefit

Products and services

• Steam Turbines Full-cycle design, manufacturing, testing, and commissioning of steam turbines for thermal power plants (TPP), combined heat and power plants (CHPP), and nuclear power plants (NPP), with combined annual production capacity of approximately 8 million kW.
• Hydraulic Turbines Design and manufacture of hydraulic turbines for hydroelectric power plants (HPP) and pumped-storage hydroelectric power plants (PSHPP), including hydraulic gates. The company is a world leader in hydrogenerator-motor design with unit capacity from 40 to 420 MW and annual output capacity of approximately 2 million kW.
• Turbine Condensers Block-modular design steam turbine condensers with stainless steel and titanium cooling tubes developed for import substitution at Ukrainian nuclear power plants, delivered for South Ukrainian, Zaporizhzhia, and Rivne NPPs.
• Hydrogenerator-Motors Large rotating electrical machines for pumped-storage hydroelectric power plants (PSHPP/HPP), ranging from 40 to 420 MW unit capacity. Turboatom pioneered this technology in the former USSR.
• Work Blades / Rotor Blades Titanium alloy work blades for steam turbine low-pressure rotors, including 1200 mm long last-stage blades for 1000 MW turbines, manufactured for Ukrainian and international nuclear power plants under import substitution programs.
• Traction Motors and Electrical Machines Traction electric motors and generators for railway locomotives and modern urban rolling stock, including AD933U1 motors used in Kyiv trams, as well as large rotating electrical machines for industrial applications.
• Hydraulic Gates Hydraulic gates and shut-off equipment for hydroelectric power plants, pumped-storage stations, and pumping stations, including unique ball-type gates developed for major installations such as the Nurek Hydropower Plant.
• Modernization and Reconstruction Services Retrofitting and modernization of existing power equipment at nuclear, thermal, and hydroelectric stations to extend operational life and improve performance, including 25 MW power increases at South Ukraine NPP through condenser modernization.

Quantifiable outcome

• Power output increase of 25 MW achieved at South Ukraine NPP Unit 3 through condenser modernization
• +3 more outcomes

Named customers8 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Nine partnerships are on record, tiered core, major and support.

• UkrhydroenergocoreStrategic or Co-development Partner · 19 February 2026Long-term strategic partnership for hydraulic turbine and generator equipment supply. Signed contract for equipment delivery in February 2026 under World Bank project for energy system resilience and European integration. Focus on rehabilitation and modernization of Ukrainian hydroelectric stations.
• Paton Institute of Electric Welding (NASU)coreStrategic or Co-development Partner · 15 April 2019Long-term R&D partnership for welding technology development in turbine manufacturing. Joint development of welded rotor technology for large power turbines considered a national achievement. Unlimited duration cooperation agreement signed April 2019.
• Toshiba Energy Systems (Japan)majorTechnology or IntegrationMemorandum of cooperation signed in 2018 for energy equipment development. Strategic technical collaboration in power equipment manufacturing.
• Dnipro-SpetsgidroenergomonstazhmajorImplementation/ SI/ Consulting PartnerLong-term partner for installation, commissioning, and testing of hydroelectric equipment. Contract signed March 2019 for Kremenchuk HPP turbine reconstruction (3+ year project).
• Kharkiv Regional Employment CentersupportOthersPartnership for workforce recruitment and training. Filled 165 positions during 2025-2026 through employment service. Used government support programs for partial unemployment benefits and internally displaced persons compensation.
• NAEC EnergoatomcoreStrategic or Co-development PartnerMajor long-term partner for nuclear power equipment. 5-year program participation agreement for nuclear power plant equipment supply through 2022. Key contracts for condensers, turbine components, and modernization. Active since Soviet era.
• National Academy of Sciences of Ukraine (NASU)coreStrategic or Co-development PartnerFramework cooperation agreement for scientific and technical collaboration in power equipment development. Joint research with multiple institutes including Paton Institute, Institute of Engineering Problems, and Kharkiv Physics-Technical Institute.
• NTU KhPI (Kharkiv Polytechnic Institute)supportOthersDual education partnership signed December 2018. Cooperation for engineering workforce development and practical training for students. Factory visits and internship programs for mechanical engineering students.
• Ukrainian State University of Railway Transport (Ukrdizt)supportOthersMemorandum of cooperation signed March 2026 for engineering education and workforce development.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Voith Hydro: German specialist OEM of hydro turbines and generators for conventional and pumped-storage hydropower. Direct competitor in large hydro equipment with comparable technology scope to Turboatom's hydro generator-motor business.
• Toshiba Energy Systems: Japanese OEM of steam turbines for thermal and nuclear power generation, and an existing strategic partner of Turboatom since the 2018 MoU. Closely comparable in nuclear steam turbine technology and global utility customer base.
• Power Machines (Silovye Mashiny): Russian OEM of turbines and generators with a similar Soviet-era heritage and product portfolio (steam turbines, hydro turbines, generators). The closest geographic and historical peer; geopolitical displacement of Power Machines creates direct competitive opportunity for Turboatom in CIS/Eastern European markets.
• Mitsubishi Power: Direct competitor in large-scale steam turbines for thermal and nuclear power plants, including advanced combined-cycle applications. Explicitly named by Turboatom as a key global competitor alongside Siemens, Alstom, and Toshiba.
• Andritz AG: Austrian specialist in hydro turbines and pumped-storage equipment, directly competing with Turboatom in the same hydrogenerator-motor niche (large unit capacities for pumped-storage plants). Strong reference list overlaps with Turboatom's customer base.

Emerging players

• Harbin Electric Company Limited: Chinese state-owned OEM of large power generation equipment including steam and hydro turbines. Comparable in scale and state-owned structure, and an emerging competitor in international tenders for large power projects.
• Doosan Enerbility: Korean OEM of large-scale steam turbines and power generation equipment with growing international presence. Competes with Turboatom in thermal and combined-cycle power plant tenders, particularly in emerging markets.
• Bharat Heavy Electricals Limited (BHEL): Indian state-owned OEM of steam turbines, hydro turbines, and power generation equipment with a comparable scale and emerging-market focus. Overlaps with Turboatom in international tenders for thermal and hydro power projects in Asia and Africa.

Broad incumbents

• Siemens Energy: Global Tier-1 OEM of steam, gas, and hydro turbines with extensive service network. Directly comparable as a competitor in nuclear, thermal, and hydro power generation equipment, with much broader scale and global reach than Turboatom.
• GE Vernova: Spun off from GE in 2024, this is a major Western OEM of steam and gas turbines, hydro turbines, and grid equipment. Competes with Turboatom across all major power generation segments with stronger R&D and global service footprint.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Turboatom_PJSC

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 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 Turboatom