Wedoany.com Report-Dec.10, GE Vernova, a leading manufacturer of gas turbines, is collaborating with the United States government to build additional stockpiles of the rare earth element yttrium, Chief Executive Officer Scott Strazik stated on Tuesday. The move addresses supply constraints for this material, which is widely used in energy, aerospace, and semiconductor applications.

The company currently holds sufficient yttrium inventory to meet its production requirements through the remainder of 2025 and into 2026, according to Strazik. He noted that GE Vernova is also actively developing alternative materials that could reduce or replace yttrium in certain applications, despite potential impacts on cost or performance.

"We are very focused on it every day," Strazik said during the company's investor day event on Tuesday when asked about the yttrium situation.

"We're in good shape for the foreseeable future based on the fact that we have everything we need for this year into next year. But we will continue to be opportunistic whenever there's an opportunity to add to the inventory," he added.

Yttrium is an important component in high-performance alloys and thermal barrier coatings that protect gas turbine components from extreme temperatures. As one of only three major global producers of large-scale gas turbines, GE Vernova relies on a stable supply of the element for its manufacturing processes.

Export restrictions on yttrium and several other rare earth elements introduced earlier this year have affected availability on international markets. Although recent agreements between relevant authorities have aimed to facilitate smoother trade flows, users in multiple industries continue to experience limited access, contributing to significant price increases during 2025.

GE Vernova’s proactive inventory management and ongoing research into material substitutes are part of broader industry efforts to ensure continuity of supply for critical components used in power generation and other strategic sectors. The company remains prepared to secure additional volumes whenever market conditions allow.