New York, Feb 9, 2026, 11:59 EST — Regular session
- GE Vernova climbed roughly 3.6% by late morning.
- Maxim Power locked in a 7HA.02 gas turbine slot, targeting delivery near 2030 and putting down a deposit in 2026.
- GE Vernova reported it has finished upgrading a UK plant, which boosted both efficiency and output.
GE Vernova Inc jumped 3.6% on Monday, with traders responding to news of a new turbine slot reservation for a Canadian gas project plus a separate contract upgrade in the UK. Shares were last seen around $807.20, having bounced between $770.77 and $809.13 so far in the session.
Power developers, racing to secure hardware fast enough for surging demand from sources like data centres, are watching these two updates closely. Securing a slot in advance means deposits may come years ahead of actual delivery—a telling indicator of just how squeezed factory capacity is for big gas turbines.
Scott Strazik, CEO, told Barron’s that GE Vernova is closing in on a 100-gigawatt backlog, with orders filling up production slots through 2029 and 2030. Strazik also said the company’s target is to boost yearly output to 20 gigawatts. 1
Maxim Power Corp has locked in a manufacturing slot with GE Vernova for a 7HA.02 gas turbine and generator, aiming for delivery in 2030. The Calgary-based firm said it will pay a non-refundable deposit in 2026, which will go toward the purchase if a final sales agreement is reached. The two sides plan to hammer out those terms ahead. 2
Maxim is locking in the site for its approved 400-megawatt Prairie Lights Power Project close to Grande Prairie, Alberta, with plans to spend as much as C$60 million on the project in 2026. The company says it will cover the costs using existing cash and generated cashflow. 2
GE Vernova wrapped up a significant outage at InterGen’s 800-MW Coryton combined-cycle plant, located just east of London, and installed a pair of “High Efficiency” upgrades. According to the company, output jumped by as much as 85 MW, with unit efficiency climbing 2.46%. 3
Daniel Fosberg, managing director at InterGen, described the upgrades as bringing “higher-than-expected efficiency and power production.” He positioned the improvements as essential for maintaining flexible generation capacity as renewables expand. 3
Joseph Anis, head of GE Vernova’s Gas Power operations across Europe, the Middle East and Africa, pointed to the project as evidence of the company’s drive to help customers maintain a competitive edge. He also noted that the GT26 units are capable of operating on blends of hydrogen and natural gas. 3
GE Vernova pushed ahead of the broader market this day. The S&P 500, tracked by SPY, added roughly 0.6%, while the tech-heavy QQQ gained close to 0.9%.
Still, long lead times have a flip side. Reservation agreements aren’t the same as binding purchase contracts, and delays—whether from permitting snags, financing gaps, or shifting power-market economics—can throw off schedules, keeping manufacturers exposed to timing risks even in periods of apparent strong demand.
Next up for investors: GE Vernova’s Q1 2026 earnings webcast on April 22. They’ll be combing through for new cues on orders, capacity, and a headcount on how many “slots” have already been claimed. 4
