TPI COMPOSITES, INC

TPI COMPOSITES, INC

TPI Composites was founded in 1968 in Maine as a designer and builder of composite boats and transportation components. The company went public on the Nasdaq in 2004 under the ticker TPIC. Its pivot to wind energy began in the early 2000s, and today TPI is one of the world's largest independent manufacturers of wind turbine blades. The company's core business is blades for onshore wind turbines, serving OEMs such as Vestas, GE Renewable Energy, and Nordex. It also produces composite parts for buses, trucks, and defense vehicles. TPI operates manufacturing facilities in the United States, Mexico, China, India, and Europe, with a supply chain that spans low-cost labor markets. The company had over 13,000 employees globally. TPI's scale is tied to global wind energy demand. In 2021, the company recorded revenue of approximately $1.6 billion. A recent operational event: in early 2025, TPI announced the closure of its blade factory in Newton, Iowa, citing reduced customer demand and a shift in production to its Mexican facilities (per local press reports, February 2025). The company's board is led by CEO William E. "Bill" Siems, who took the role in 2023. A structural differentiator: TPI Composites is not a family office or asset manager but a publicly traded manufacturing firm. It is included in this database due to its composite supply chain linkages to energy transition assets. Its governance is that of a public company with a board elected by shareholders.