Feiwa Technology Shares Surge on Strategic Partnership with GE Vernova in Gas Turbine Sector

On May 6, Hunan Feiwa New Energy Technology Co., Ltd., known as Feiwa Technology, announced a strategic memorandum of understanding with GE Vernova, a global leader in the energy sector. This partnership marks a significant milestone in the collaboration between the two companies within the domain of gas turbine equipment manufacturing.

GE Vernova stands as a dominant force in the global market for gas turbine power plants under construction, holding approximately two-thirds of the market share. With an impressive installed capacity of nearly 55 GW for gas turbines currently being developed, the company remains at the forefront of the industry. In the Asian market, GE Vernova maintains a vast presence, accounting for more than 67% of the gas-fired power capacity under construction and boasting a 38% market share within the region. GE Vernova is recognized for its comprehensive operations that span the full electrical chain, including generation, transmission, coordination, conversion, and storage, all while advancing electrification and decarbonization efforts.

Following a competitive bid for GE Vernova’s small manufacturing projects, Feiwa Technology emerged victorious, securing over 50 projects due to its exceptional technical prowess and product quality. Subsequently, on May 5, Eastern Standard Time, Feiwa Technology signed a four-year long-term cooperation agreement with GE Vernova. Under this agreement, Feiwa Technology will leverage its expertise in high-end equipment manufacturing to supply GE Vernova with precision sheet metal components and machined parts for gas turbine combustion chambers. This order is managed by Feiwa Technology's subsidiary, Suzhou Feiwa Aviation Technology Co., Ltd., which specializes in the manufacture of precision sheet metal and welded components for aerospace engines and gas turbine combustion chambers.

Feiwa Technology’s Secretary to the Board, Liu Zhijun, expressed optimism about the collaboration, stating, “This partnership with GE Vernova represents a critical step in Feiwa Technology's strategy for establishing a second growth trajectory. By capitalizing on our deep-seated technical expertise, seasoned manufacturing experience, and mature supply chain systems, Feiwa Technology has successfully expanded its business ventures into high-end sectors such as aviation, space, gas turbines, and oil, facilitating diversified business upgrades.”

The collaboration underscores Feiwa Technology’s commitment to innovation and its ability to overcome technical challenges within a demanding industry. By enhancing technological solutions and optimizing processes, Feiwa Technology positions itself as a formidable player with core competencies in this specialized field.