Siemens Energy announced plans to spin off its Transformation of Industry division, citing the unit's struggle to compete for capital as its gas turbines and power transmission businesses accelerate. The division employs 17,000 workers and reported $6.66 billion in revenue with an 11.3% profit margin in its 2025 fiscal year. The company stated the separation will give the business more flexibility and growth opportunities, initially operating under the future brand Omterra.

Siemens Energy plans to deconsolidate the unit while maintaining a meaningful minority stake, and is exploring external investors or capital markets transactions. The Transformation of Industry unit serves industrial clients across oil and gas, chemicals, paper, cement, and maritime sectors, working on industrial steam turbines, compressors, electrolyzers for hydrogen production, generators, and motors. This unit operates in distinct markets requiring more flexibility than the rest of Siemens Energy.

By comparison, Siemens Energy employs over 100,000 people, with its gas services unit reporting over 12 billion euros and its grid technologies unit reporting more than 11 billion euros in 2025 revenue.