Woodward has completed the acquisition of the iCON Controls business from EthosEnergy Power Plant Services, LLC, marking an important step in the company’s strategy to expand its capabilities in gas turbine control systems and services. The acquisition supports Woodward’s long-term growth plan by broadening its technology offerings and strengthening its position in industrial and power generation markets.
The iCON Controls business brings more than two decades of experience in gas turbine control system development, supported by a substantial portfolio of intellectual property. The technology is used across a wide range of applications, including light industrial gas turbines, mature heavy-frame turbines, and non-GE aero-derivative gas turbines. These segments complement Woodward’s existing product portfolio and extend its reach into areas that were previously outside its scope of support.
With more than 1,200 control systems deployed globally, the addition of iCON Controls significantly expands Woodward’s installed base. This creates new opportunities for lifecycle services, system upgrades, and modernization programs, enabling customers to improve performance, reliability, and operational efficiency of their existing turbine assets.
The acquisition also accelerates Woodward’s gas turbine control upgrade strategy by providing proven technologies that can be deployed in a cost-effective manner. By integrating iCON’s control solutions with Woodward’s engineering expertise and service infrastructure, the company aims to deliver enhanced solutions that address evolving customer requirements and support long-term asset optimization.
This transaction forms part of Woodward’s Industrial Asset Services growth initiative, which focuses on delivering comprehensive solutions across the lifecycle of industrial equipment. The expanded capabilities are expected to strengthen Woodward’s services business by enabling deeper engagement with customers operating a diverse range of turbine platforms.
Woodward stated that the integration of the iCON Controls business will allow it to respond more effectively to market demand for modernization and digital upgrades in gas turbine operations. Customers will benefit from a broader choice of control solutions, improved system compatibility, and access to Woodward’s global service network.
By adding iCON Controls to its portfolio, Woodward continues to invest in technologies and capabilities that support reliable, efficient, and flexible power generation. The company expects the acquisition to enhance its ability to serve customers across industrial, energy, and power markets while supporting sustainable growth over the long term.
