Investing.com -- GE Vernova Inc shared updates from the 42nd Bernstein Strategic Decisions Conference held last week, where CEO Scott Strazik outlined the company's growth trajectory and business fundamentals.

The company's installed base powers 25% of the world's electricity and supports a services business with an $87 billion backlog as of the first quarter of 2026. The services segment is projected to reach approximately $20 billion in annual revenue by 2027.

Since spinning off from General Electric in April 2024, GE Vernova has increased its equipment backlog by 80% to $76 billion. The company expects this backlog execution to expand its installed base and drive services business growth into the 2030s.

The electrification segment has shown the fastest growth, with its backlog expected to reach $60 billion in 2027, up from $9 billion at the end of 2022 and $42 billion at the end of the first quarter of 2026.

Strazik noted positive early results from the Prolec GE acquisition, with $500 million in U.S. orders secured in 2026 year-to-date. These orders will be fulfilled by legacy GE Vernova international factories, a capability that was not available under the previous joint venture structure with Prolec.

Separately, GE Vernova announced on May 21 that it signed a definitive agreement to acquire Robotech Automation, a robotics and automation systems integrator based near Montreal, Quebec. The company employs approximately 35 people and provides customized automation solutions.

The acquisition is designed to enhance robotics and automation capabilities within GE Vernova's Advanced Research Center for deployment across its supply chain. The transaction is expected to close in early third quarter of 2026, subject to certain closing conditions.