What Slovenske Energeticke Strojarne does

Slovenské Energetické Strojárne (SES Tlmače, a.s.) is a Slovak industrial boiler and power plant equipment manufacturer, founded in 1950 and headquartered in Tlmače, Slovakia, with branch offices in Brno and Prague (Czech Republic). The company designs, fabricates, assembles, and commissions steam boilers (pulverised coal, fluidised bed / CFB, oil and gas, biomass, waste, supercritical and HRSG types), pressure and non-pressure boiler parts, boiler house and turbine hall components, nuclear auxiliary equipment (steam separators for VVER 440/1000 reactors), and emissions-reduction modernisation packages. Its engineering function — over 100 qualified staff performing in-house basic design, hydrodynamic calculations, stress analyses and modelling — is positioned as a differentiator, with 15 CFB boilers in operation globally (including a 255 MWe unit in Ukraine) and 500+ projects delivered to 38 countries across power generation, district heating, biomass, waste-to-energy, refining and nuclear end-markets.

SES generates revenue primarily through project-based equipment supply and engineering contracts for 'boiler island' and 'power island' deliveries to utilities, refineries and industrial operators, complemented by standalone modernisation and reconstruction services (including DENOx, fuel conversion and reliability upgrades). The company has been a majority-owned subsidiary of Czech holding EP Industries a.s. since March 2017 (99.45% stake as of September 2022), and its shares were delisted from the Bratislava Stock Exchange on 21 September 2022 at SES's own request. Commercial activity is conducted directly through the headquarters commercial department and the Czech branch offices, supplemented by consortium arrangements with partners such as Metrostav DIZ and I&C Energo (e.g., the >5 billion CZK Most-Komořany waste incinerator contract, April 2024) and engineering partnerships with Hitachi Zosen Inova AG (Riverside 2, UK, 2023) and Steinmüller Engineering GmbH (VERA II Hamburg, 2022). SES holds ISO 9001, ISO 14001, ISO 45001 and ISO/IEC 17025 certifications, plus a Slovak technical authorisation for specialised pressure equipment.

Name

Slovenske Energeticke Strojarne

Legal name

SLOVENSKÉ ENERGETICKÉ STROJÁRNE a.s.

Website

https://ses.sk

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

101–250 employees

Short description

Slovenské Energetické Strojárne (SES Tlmače, a.s.) is a Slovak industrial boiler and power plant equipment manufacturer serving utilities, refineries and district heating operators worldwide with steam boilers, CFB technology, modernisation services and nuclear auxiliary equipment.

Ownership category

akta.pro rank

Product category

Industrial Boiler Manufacturing

NAICS

Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

Heating Equipment, Except Electric & Warm Air Furnaces (3433), Fabricated Plate Work (Boiler Shops) (3443)

akta.pro primary industry

Industrial Boilers, HRSGs & Steam Generators (IMAHAFAF)

akta.pro secondary industries

Boilers, Furnaces & Process Heating Equipment (IMAHAKAD), Nuclear Steam Supply System Components & Turbine Islands (IMAHAFAG), Cooling, Water/Steam Cycle & Balance-of-Plant Retrofits (Condensers, Cooling Towers) (EUAEALAK)

Keywords

• Industrial boiler manufacturing
• Power plant equipment
• Waste-to-energy boilers
• Circulating fluidized bed
• Steam boiler design

Headquarters

HQ city

Tlmace

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Boiler and Power Plant Equipment Supply: Design, fabrication, delivery, assembly, and commissioning of steam boilers (pulverised coal, fluidised bed, oil & gas, biomass, waste, supercritical, HRSG) and power plant equipment (condensers, heaters, feedwater tanks, pipelines, water treatment, fuel handling). Revenue is earned through project-based equipment supply contracts, typically for boiler island or power island deliveries.
2. Engineering Services: Provision of conceptual, basic, and detailed engineering services as part of full project scope. Engineering is delivered by more than 100 highly qualified employees. Engineering services are bundled with equipment supply contracts and also provided standalone (e.g., Riverside 2 detailed engineering contract for Hitachi Zosen Inova AG).
3. Modernisation and Reconstruction Services: Modernisation and reconstruction of boilers including replacement of combustion equipment, fuel conversion, reliability improvements, efficiency improvements, and NOx/CO/dust emission reduction. SES performs modernisations for both SES-supplied and third-party boilers.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

SES Tlmače designs, fabricates, supplies, assembles and commissions industrial steam boilers and power plant equipment for thermal power plants, combined heat and power plants, district heating plants, biomass plants, and waste-to-energy facilities. The company delivers complete boiler island and power island solutions across fuel types including coal, oil, gas, biomass, municipal waste, and refuse-derived fuel (RDF), complemented by balance-of-plant equipment and engineering services.

Product overview

SES Tlmače is an industrial boiler and power plant equipment manufacturer offering a comprehensive portfolio of products and services. The core offering consists of power station units and heating plants with various boiler types: Pulverised Coal Boilers, Fluidised Bed Boilers (CFB - the company's specialty with 15+ units in operation), Supercritical Parameter Boilers, Oil & Gas Fired Boilers, Biomass and Waste Firing Boilers, and Waste Heat Boilers (HRSG). These are complemented by Reconstruction and DENOx services for emissions reduction, Boiler Pressure/Non-pressure Parts, Boilerhouse and Machine House Components, Nuclear Power Plant Equipment, and full Engineering Services from conceptual design through commissioning. The company provides complete 'Boiler Island' or 'Power Island' deliveries.

Differentiator

Problem solved

Functional benefit

Products and services

• Power and Heating Plants Complete power station units and heating plants firing coal, oil, gas, biomass and combinations of fuels, supplied as full boiler island or power island deliveries to power plant operators and district heating utilities.
• Boilers Industrial boiler portfolio covering pulverised coal boilers, fluidised bed boilers (CFB), supercritical parameter boilers, oil & gas fired boilers, biomass and waste firing boilers, and waste heat boilers (HRSG).
• Reconstructions and DENOx Systems Modernisation and reconstruction services for existing boilers including fuel conversion, reliability improvements, efficiency improvements, and emissions reduction (NOx primary and secondary measures, SNCR, SCR), CO and dust reduction on both SES-supplied and third-party boilers.
• Nuclear Power Plant Equipment Equipment for primary and secondary circuits of VVER 440 and VVER 1000 reactors, including steam separators, steam superheaters, inspection containers and separation elements supplied to nuclear power plants.
• Boilerhouse and Machine House Components Balance-of-plant equipment for thermal and nuclear power plants including coolers, condensers, low and high pressure heaters, feedwater tanks, deaerators, pressure vessels, and low/medium/high pressure pipelines.
• Engineering Services Full engineering services including conceptual engineering, basic engineering, detailed engineering, hydrodynamic calculations, stress analyses, modelling and manufacturing documentation for power plant units, heating plant systems and boiler houses, delivered standalone or bundled with equipment supply.

Quantifiable outcome

• 15 CFB boilers in operation globally
• +3 more outcomes

Named customers16 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

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Metrostav DIZ s.r.o.coreStrategic or Co-development Partner · 1 April 2024SES leads a consortium (SES, Metrostav DIZ s.r.o., and I&C Energo a.s.) that signed a contract on 10 April 2024 for the delivery and construction of a new waste incinerator in Most-Komoirany, Czech Republic, for United Energy, a.s. Metrostav DIZ handles the construction part and related operational units. Total contract value exceeds 5 billion CZK, with SES share being more than half.
• I&C Energo a.s.coreStrategic or Co-development Partner · 1 April 2024SES leads a consortium (SES, Metrostav DIZ s.r.o., and I&C Energo a.s.) that signed a contract on 10 April 2024 for the delivery and construction of a new waste incinerator in Most-Komoirany, Czech Republic, for United Energy, a.s. I&C Energo handles own consumption equipment, electrical power output, measurements and control system. Total contract value exceeds 5 billion CZK.
• United Energy, a.s. (Czech Republic)coreOthers · 1 April 2024Customer for the Most-Komoirany waste incinerator project. The contract was signed following successful competitive tendering in a public procurement. The new waste incinerator will provide highly efficient, ecological and reliable electricity generation and heat for approximately 35,000 households in Most and Litvinov and commercial entities in the region. The project is supported by the Czech State Environmental Fund's Modernisation Fund.
• Hitachi Zosen Inova AGcoreTechnology or Integration · 1 March 2023SES signed a contract in March 2023 for the supply of detailed engineering for two boilers for the Riverside 2 municipal waste incineration plant in England. By signing this contract SES began cooperation with Hitachi Zosen Inova AG, which is a major supplier in this field, confirming SES's competitiveness and expertise in the field of supply of design and engineering works for the power industry.
• Steinmüller Engineering GmbH (Germany)coreStrategic or Co-development Partner · 1 June 2022SES signed a contract on 22 June 2022 with Steinmüller Engineering GmbH for the VERA II Hamburg project. The contract involves design, manufacture, supply and supervision during assembly and commissioning of a fluidised bed boiler with accessories for incineration of sludge from municipal sewage treatment plants of the city of Hamburg. SES had previously cooperated with Steinmüller on the Buschhaus project in Germany.
• ENVIROTHERM GmBH (Germany)coreTechnology or Integration · 1 October 2019In October 2019, SES signed a contract with ENVIROTHERM GmBH for KVA BUSCHHAUS projects in Helmstedt, Germany. SES is responsible for design, manufacture, supply and supervision during assembly and commissioning of a waste heat boiler pressure system downstream of sludge combustion technology supplied by Envirotherm, plus boiler supply system and condensate system.
• Lurgi GmbH (Germany)minorStrategic or Co-development Partner · 1 January 1991Cooperation contract with Lurgi company from 1991-1992 on the development and delivery of fluidised bed boilers. This was an early strategic partnership that helped establish SES's CFB technology capabilities.

Scale indicators8 records

Recent moves12 records

Expansion highlights3 records

Emerging players

• Thermax: Indian boiler and energy solutions provider with growing European and WtE presence. Overlaps with SES in industrial biomass and waste-fired boiler projects, particularly in price-sensitive emerging market bids.
• Harbin Boiler: Chinese state-owned large utility boiler manufacturer supplying pulverised coal and CFB boilers globally. Competes with SES on cost-sensitive coal and biomass boiler projects, particularly in emerging markets where SES has references.
• Hitachi Zosen Inova: Swiss-Japanese WtE turnkey specialist and EfW plant builder that is also a current SES partner (Riverside 2). Overlaps with SES's waste-to-energy boiler scope and competes for the same consortium project leadership.

Broad incumbents

• Mitsubishi Power: Japanese OEM of large utility steam boilers, gas turbines and HRSGs with global EPC capability. Overlaps with SES on HRSG and large-scale power island projects but at materially larger scale and broader scope.
• Babcock & Wilcox: Long-established US-based boiler OEM with global waste-to-energy, biomass and utility boiler portfolio. Competes with SES in selected WtE and industrial boiler projects, particularly in Europe and Latin America.

Direct peers

• Valmet: Finnish process technologies provider with a leading pulp & energy boiler business including CFB and biomass boilers for power plants. Competes head-to-head with SES for biomass and WtE boiler island contracts in Europe.
• Doosan Enerbility: Korean OEM of large utility boilers, CFB technology and waste-to-energy plants, with significant European references. Competes directly with SES on CFB and pulverised coal boiler island tenders.
• Standardkessel (Standard Fasel Lentjes): German engineering firm specialising in CFB and grate boilers for biomass and waste-to-energy. Comparable mid-sized European CFB/grate boiler specialist with similar scope of supply and customer base.
• Steinmüller Engineering (Bilfinger): German engineering and boiler specialist (now part of Bilfinger) active in waste-to-energy and fluidised bed boiler design. Both a competitor for boiler island contracts and a partner of SES on VERA II Hamburg and Buschhaus.
• Andritz: Global supplier of power boiler islands, CFB and bubbling fluidised bed technology, biomass and waste-to-energy plants. Directly competes with SES in CFB and WtE tenders across Central Europe and beyond.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/embed/pqnsDPp1I6o

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

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 Slovenske Energeticke Strojarne