Inconel alloy 740 was initially developed to enable the design of coal-fired boilers capable of operating at 700°C steam temperature and high pressure. The alloy successfully met the European program's targets, including 100,000-hour rupture life at 750°C and 100 MPa stress, and less than 2 mm metal loss in 200,000 hours of superheater service. However, thick section fabrication revealed weldability challenges, specifically grain boundary microfissuring in the heat affected zone (HAZ) of the base metal. This paper describes the development of a modified variant with significantly improved resistance to HAZ microfissuring and enhanced thermal stability, while maintaining desirable properties. The formulation process is detailed, and properties of materials produced within the new composition range are presented. Additionally, the microstructural stability of the original and modified alloy compositions is compared, demonstrating the advancements achieved in this critical material for next-generation power plants.

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