Stafford, UK (September 24, 2024) – GE Vernova Inc. (NYSE: GEV) today announced the expansion of its existing manufacturing facilities in Stafford, UK. The expansion is aimed at supporting the fast-growing demand for High-Voltage Direct Current (HVDC) transmission systems that will help power renewable energy projects throughout Europe, Asia and North America, while also supporting the UK’s energy transition.

The expansion focuses on two key sites of its Electrification Systems’ Grid Solutions business in Stafford:

• Stafford HVDC Facility at Redhill – HVDC and Flexible AC Transmission Systems (FACTS) valves: This facility is anticipated to double its valve manufacturing capacity to support the growing demand for HVDC systems with the installation of an additional Voltage-Sourced Converter (VSC) valve assembly line. The valves, considered the "heart" of an HVDC converter station, enable the optimal transmission of power from offshore wind farms and other renewable energy sources to the grid.
• Stafford Transformer Facility at Lichfield Rd – HVDC converter transformers: This site will undergo significant upgrades to boost capacity and enhance its ability to produce HVDC converter transformers, critical for integrating renewable energy into the grid. Transformers produced at this site have recently been installed in the North Sea to support the 1.4 GW Sofia Offshore Wind Farm.  

"Helping our customers deliver sustainable, affordable, and reliable energy to people worldwide is central to GE Vernova’s mission," said Philippe Piron, CEO of GE Vernova’s Electrification Systems business. "By expanding our Stafford operations, we are strengthening our ability to support the energy transition in the UK and the rest of the world and creating new jobs as a result.”

This expansion marks GE Vernova’s second major round of investment in its Stafford site. In 2018, the company constructed one of the world’s most advanced HVDC valve test facilities and a control system testing facility, which now supports large-scale testing and validation of HVDC systems for projects across Europe and beyond.

As part of this expansion, GE Vernova’s Grid Solutions business expects to have created around 600 new jobs in the UK from 2023 to the end of 2025, including hundreds of engineers and skilled craftsmen to support the assembly and testing of the valves.

GE Vernova’s Grid Solutions business recently signed an agreement to supply HVDC systems for five of TenneT’s offshore wind projects. These projects are part of the Dutch-German Transmission System Operator’s goal to connect 40 GW of offshore wind farms to the high voltage grids in the Netherlands and Germany. The valves and the transformers technology for these projects are planned to be manufactured at the Stafford facilities, further emphasizing the strategic role of these sites in Europe’s energy transition.

GE Vernova operates three manufacturing sites in Stafford. In addition to the HVDC site and the Transformer site, the UK’s only large-scale grid manufacturing facility, it also has a Grid Automation site at Redhill. The ongoing expansion ensures that Stafford continues to be a critical hub for the production of clean energy technologies, supporting both local and overseas energy needs.

GE Vernova has 120 years of experience in the UK, with more than 30% of the UK’s electricity generation through its equipment. Outside of Stafford, GE Vernova runs another major manufacturing facility in Rugby.  

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Notes to Editors: 

Forward Looking Statements

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements address GE Vernova's expected future business and financial performance, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on business operations, financial results and financial position and on the global supply chain and world economy.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

GE Vernova’s Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

LONDON (September 9, 2024) - GE Vernova’s nuclear business, GE Hitachi Nuclear Energy (GEH), has signed a series of Memorandum of Understanding (MoUs) with Aecon, AtkinsRéalis, Jacobs and Laing O’Rourke.

These arrangements mark another step forward in GEH’s potential deployment of its BWRX-300 technology in the UK, as it continues to progress through Great British Nuclear’s (GBN) ongoing small modular reactor (SMR) selection competition.

Aecon is the provider of construction services, including project management, construction planning and execution for Ontario Power Generation’s Darlington New Nuclear Project while AtkinsRéalis is serving as architect and engineer for the project. Construction at Darlington is expected to start in 2025 with commercial operation to commence by the end of 2029. These MoUs enable GEH to leverage lessons learned from the project to enhance progress in the UK.  

Additionally, GEH’s ongoing collaboration with Jacobs can facilitate best-in-class design capabilities tailored to the UK environment while the MoU with UK-based Laing O’Rourke will see it support the development of the programme, drawing on its sector leading knowledge of modern methods of construction.

These agreements build on GEH’s previously announced collaboration with Sheffield Forgemasters to discuss how the Sheffield-based company’s forgings could help contribute to BWRX-300 deployment in the UK.

Andy Champ, GEH UK Country Leader said: “Strategic relationships like these lay further foundations for the successful roll-out of our BWRX-300 technology in the UK. These MoUs underscore our desire to work closely with the UK nuclear supply chain as the SMR competition progresses, which can play a key role in helping Britain become a clean energy superpower.

“Given our BWRX-300 reactor is planned for deployment in Canada, collaborating with best-in-class experts across the industry puts us in an even stronger position to reliably deliver this technology for the best value for money. It also furthers our confidence in our ability to work with Great British Nuclear to bring our SMR technology to market.”

Thomas Clochard, Executive Vice President, Nuclear & Civil, Aecon Group Inc. said: “Aecon’s extensive nuclear experience and technical knowledge spans five decades and we are well positioned to play an important role in building the next generation of nuclear infrastructure to ensure clean, reliable and affordable electricity for future generations. Aecon is at the forefront of advancing the energy transition, including through nuclear power, as the Canadian constructor of North America’s first grid-scale SMR – building the first-of-a-kind GEH BWRX-300 SMR and delivering the two largest ongoing nuclear refurbishment projects in North America. Aecon is proud to bring its full spectrum of nuclear construction and project management services, as well as unique fabrication and execution solutions to support the future deployment of SMRs in the UK working with GEH, Great British Nuclear and our partners.”

Joe St Julian, President, Nuclear, AtkinsRéalis, said: “AtkinsRéalis has been working closely with GEH and our partners at Darlington to deliver the first commercial, land-based SMR in the western world. As a global partner to GEH, we look forward to leveraging our experience at Darlington and bringing our broader knowledge and experience in new nuclear build programmes to ensure GEH’s nth-of-a-kind UK project delivers efficiently and safely to support UK government’s aspirations of 24GWs of nuclear before 2050.”

Dawn James, Jacobs Vice President, said: “We will assist GEH to build relationships of trust with government and regulators, de-risk the program and secure the GDA statements on time. We have held trusted supplier status on all major UK nuclear licensing applications since 2007, drawing on a deep understanding of both the GDA process and the associated site-specific regulatory requirements for new nuclear power stations. Our work with GEH will progress our joint aim of ensuring the UK’s energy security and building a more connected and sustainable world.”

Allan Gregory, Laing O’Rourke’s Nuclear Delivery Director, said: “As a proud member of the UK’s new nuclear supply chain, we are committed to helping the UK Government achieve its 2030 clean energy mission. We are delighted to be working with GEH to support its plans to deploy its BWRX-300 small modular reactor in the UK. We will harness our knowledge of modern methods of construction, as well as our established supply chain partnerships, to provide delivery certainty for GEH’s technology.”

Building on a long and deep history in the UK, GE Vernova has a significant local footprint with four manufacturing facilities and more than 30 percent of the country’s electricity currently powered by its technology. GEH is committed to developing a robust UK supply chain for its BWRX-300 deployment having held a SMR supply chain conference in Sheffield earlier this year, which was attended by over 150 UK businesses.

Separately, in January 2024 GEH received a £33.6 million Future Nuclear Enabling Fund (FNEF) grant from the UK Department for Energy Security & Net Zero (DESNZ). In conjunction with the awarding of this grant, GEH entered the Generic Design Assessment (GDA) process for the BWRX-300.

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About GE Vernova
GE Vernova (NYSE: GEV) is purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Nuclear energy business, through its global alliance with Hitachi, is a world-leading provider of nuclear fuel bundles, services, and advanced nuclear reactor designs. Technologies include boiling water reactors and small modular reactors, such as the BWRX-300, which is one of the simplest, yet most innovative boiling water reactor designs. GE Vernova’s Nuclear fuel business, Global Nuclear Fuel (GNF), is a world-leading supplier of boiling water reactor fuel and fuel-related engineering services. GNF is a GE Vernova-led joint venture with Hitachi, Ltd. and operates primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Learn more: GE Vernova and LinkedIn.

Forward-Looking Statements
This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova’s expected future business and financial performance and financial condition, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about memoranda of understanding and the expected impact of the relationships created thereunder, contract and project proposals, bidding processes, government review processes and competitions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

Staffordshire, UK - (31 July 2024) - Next Engineers, a global career readiness programme working to increase the diversity of young people in engineering, proudly announces the first-ever graduation of Engineering Academy students in Staffordshire.

The 32 students from 16 secondary schools across Staffordshire completed the programme - many of whom plan to study engineering at university or pursue engineering apprenticeships with local employers - will be joined by family and friends on 1 August to celebrate their achievements. The Inspirational Learning Group is the educational partner for the local Next Engineers programme, which was established in 2021, and GE Vernova engineers and employees from Stafford actively engage with the programme through skill-based volunteering.

“We are so pleased to see our first cohort of students graduating, and we wish them all the luck in the world for the next stage of their education,” said Vera Silva, Chief Technology & Strategy Officer of GE Vernova’s Electrification Systems businesses. “It’s fantastic to see the positive impact the Next Engineers programme is having, not just in empowering the engineers of tomorrow but encouraging diversity within engineering. We extend our thanks to all those involved in the Engineering Academy.”

Students who complete the Engineering Academy and enrol in a qualified engineering or engineering-related degree or apprenticeship will receive partial scholarships to support them as they continue on their paths to becoming engineers.

"It has been a pleasure to support our first cohort of Academy students and support them throughout their journey,” said Ben Dyer, Co-Founder of The Inspirational Learning Group. “Our team has been so impressed with their dedication and creativity throughout - we can safely say that the future of engineering is in very safe hands! We wish all of our graduates the best of luck as they enter their new chapters, whether that is at university, apprenticeships or employment."

The Engineering Academy is a transformative learning experience designed for students aged 15 to 18. Through a rigorous curriculum, immersive design challenges, and career coaching, participants learn to think and act like engineers.

Key programme highlights:

• Dedication: The Engineering Academy spans three years, with students dedicating 220 hours outside of regular school hours to participate.
• Design challenges: In small teams, students tackle increasingly complex design challenges, mastering the engineering design process.
• Foundational skills: Beyond technical knowledge, students develop essential skills such as communication, teamwork, persistence, time management, and presentation abilities.
• Education and career exploration: Workshops and activities prepare students for their next steps, including university campus tours and interactions with GE Vernova volunteers.
• Scholarships: Students who complete the programme and enrol in engineering degree programmes or engineering apprenticeships receive partial scholarships. Next Engineers anticipates granting at least $2 million (£1.5 million) in scholarships to the inaugural classes of Engineering Academy students worldwide.

Staffordshire was among the first four locations to launch Next Engineers, with a $3.5 million (£2.5 million) investment from the GE Foundation in 2021. To date, Next Engineers in Staffordshire, which also includes Engineering Discovery for ages 13 to 14 and Engineering Experience for ages 14 to 15, has reached more than 6,200 local students.

For more information about Next Engineers and the Engineering Academy, visit our NextEngineers.org.

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About Next Engineers

Next Engineers, a programme originally funded by the GE Foundation in 2021, now known as the GE Aerospace Foundation, is a college and career readiness program dedicated to inspiring and preparing the next generation of engineers. Through innovative programs, mentorship, and community partnerships, we empower young minds to shape a better future through engineering.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

About The Inspirational Learning Group

The Inspirational Learning Group develop and deliver innovative career solutions for students, education institutes and employers across the U.K. and beyond. We are proud to have engaged and positively influenced over 600,000 students through our flagship programme, The National Careers Challenge, our real-life business challenge that enables young people to develop crucial key employability skills, vital for the ever-changing world of work. Our portfolio also includes additional programmes such as our Stocks & Shares Challenge, My Perfect University, Team Building challenges and summer school provision. As the partner of choice for outreach activity of several large, high-profile organisations such as NatWest and GE Vernova, TILG are being increasingly relied on to create truly bespoke education and outreach initiatives to support development, social mobility and inclusion. We are changing the way that young people are educated about their future world of work, engaging, inspiring, and motivating them to succeed.

LONDON (July 8, 2024) — GE Vernova’s Nuclear business, GE Hitachi Nuclear Energy (GEH), has submitted its tender response, as part of Great British Nuclear’s (GBN) ongoing small modular reactor (SMR) selection competition, by providing documentation in support of its BWRX-300 SMR technology.

The 10th generation SMR design builds on decades of real-world operating experience and innovation, using a standard design, a proven delivery model and GEH’s experience with cross-border regulatory collaboration. GEH and Ontario Power Generation are developing the first BWRX-300 at OPG’s Darlington site near Toronto. Early site preparation work has been completed, construction is expected to start in early 2025 and commercial operation to commence by 2029. A total of four 300 MW units are planned for the Darlington site. 

“We have entered this competition with a proven track record of progressing SMR reactor technology internationally, a fuel that is already licensed and in operation, and a reactor designed for manufacture,” said Andy Champ, GEH UK Country Leader. “Our BWRX-300 has evolved from proven, simple, boiling water reactor technology and is not just smaller, but through innovation even further simplified. We believe this uniquely positions us to reliably deliver an SMR with the most value for money and along with our strategic investment partners, be a valuable partner to the UK Government as it strives to reach its net zero target by 2050.

“We have a strong and growing team here in the UK, and we are confident that our SMR represents the lowest risk and highest reward choice for Great British Nuclear. We look forward to the outcome of the competition and the opportunity to play a pivotal role in helping to deliver not just Great British Nuclear’s ambitions, but also the new Government’s mission to make the UK a green energy superpower."

Building on a long and deep history in the UK GE Vernova has a significant local footprint with four manufacturing facilities and more than 30 percent of the country’s electricity currently powered by its technology. GEH is committed to developing a robust UK supply chain for its BWRX-300 deployment having held a SMR supply chain conference in Sheffield earlier this year, which was attended by over 150 UK businesses. GEH is already collaborating with Sheffield Forgemasters on potential SMR deployment and expects to announce further strategic partnerships imminently.

Separately, in January 2024 GEH received a £33.6 million Future Nuclear Enabling Fund (FNEF) grant from the Department for Energy Security & Net Zero (DESNZ). In conjunction with the awarding of this grant, GEH entered the Generic Design Assessment (GDA) process for the BWRX-300.

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About GE Vernova
GE Vernova (NYSE: GEV) is purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Nuclear energy business, through its global alliance with Hitachi, is a world-leading provider of nuclear fuel bundles, services, and advanced nuclear reactor designs. Technologies include boiling water reactors and small modular reactors, such as the BWRX-300, which is one of the simplest, yet most innovative boiling water reactor designs. GE Vernova’s Nuclear fuel business, Global Nuclear Fuel (GNF), is a world-leading supplier of boiling water reactor fuel and fuel-related engineering services. GNF is a GE Vernova-led joint venture with Hitachi, Ltd. and operates primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Learn more: GE Vernova and LinkedIn.

Forward-Looking Statements
This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova’s expected future business and financial performance and financial condition, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, contract and project proposals and bidding processes, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

SHEFFIELD, South Yorkshire: March 21, 2024 - GE Vernova’s Nuclear business, GE Hitachi Nuclear Energy (GEH), met with potential UK suppliers in Sheffield yesterday to discuss opportunities associated with the UK deployment of the BWRX-300 small modular reactor (SMR).

More than 150 UK-based businesses covering all elements of the nuclear supply chain – from manufacturing, construction and engineering – participated in the all-day conference with guest speakers including South Yorkshire Mayor Oliver Coppard and representatives from the Nuclear Industry Association and Synthos Green Energy (SGE), an investor and developer from Poland.

The event was hosted by the Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC) in Rotherham and included presentations on the BWRX-300, how deployment can help contribute to the Government’s target of 24 GW of new nuclear capacity by 2050, associated supply chain opportunities and the benefits of supply chain localization.

Sean Sexstone, Executive Vice President, Advanced Nuclear, GEH said: “Our BWRX-300 SMR technology is an ideal solution for meeting the UK’s decarbonization and energy security goals. It is based on tried, tested and reliable technology and partners in Canada, the US and Poland are already investing in our technology. We believe this makes our reactor the lowest risk and highest reward choice for Great British Nuclear. We have assembled a first-class team to deliver the BWRX-300 in the UK and we look forward to working with the local companies who have attended today’s conference as we continue to develop a robust UK supply chain.”

Oliver Coppard, Mayor, South Yorkshire said: “In South Yorkshire we are determined to be at the heart of the next energy revolution. Not simply because we’re building on our history at the heart of the first and second industrial revolutions, but because our wealth of talent, creativity and innovation will put us at the centre of the coming industrial and green economy revolutions. We’re investing in our infrastructure. We’re home to the world’s first Advanced Manufacturing District. We’ve got a plan for good growth focussed on a corridor of high skills, high pay, high tech and high productivity. And we’ve got a Skills strategy that will give our people the opportunity to stay near and go far. “

Andrew Storer, CEO, Nuclear AMRC said: “We’re delighted to bring together the UK’s nuclear manufacturers with GE Hitachi to discuss the opportunities around the BWRX-300 and help launch supply chain engagement for this nationally important programme. An SMR programme in the UK will present huge opportunities for the domestic supply chain, and information-sharing and networking event like this are an essential first step to maximizing UK content and making the most of the economic benefits of investment in low-carbon power.”

Tom Greatrex, Chief Executive Officer, Nuclear Industry Association said: “SMRs like the BWRX-300 will be vital in the UK’s efforts to strengthen energy security and meet net zero goals by providing reliable, clean power 24/7. The impressive turnout at today’s conference shows there is real appetite in the supply chain for these new exciting nuclear projects and is testament to the work being done by GE Hitachi Nuclear Energy to deliver its goal to develop here in the UK."

The UK Government has ambitions for 24 GW of nuclear energy by 2050 to help in providing energy security for the UK and for meeting net zero. It was recently announced that GEH been awarded a £33.6 million UK Future Nuclear Enabling Fund (FNEF) grant from the Department for Energy Security & Net Zero (DESNZ). In conjunction with this grant, GEH has entered the Generic Design Assessment (GDA) process for the BWRX-300.

There is significant global interest in the BWRX-300. In Canada, Ontario Power Generation (OPG) has partnered with GEH to deliver the BWRX-300 at the Darlington site, along with AtkinsRéalis and Aecon Construction Group. OPG's decades of operating experience and proven track record of delivering on-time, on-budget nuclear refurbishment, combined with GEH's nuclear expertise, sets the stage for success in advancing the energy landscape in other regions.

The Province of Ontario is working with OPG on planning and licensing for three additional BWRX-300s at the Darlington site. OPG, Tennessee Valley Authority, Synthos Greeen Energy and GEH are teaming up to invest in the development of the BWRX-300 standard design and detailed design for key components.

GE has a long and deep history in the UK, with a presence dating back 130 years. GE’s energy businesses employ more than 2,500 people at 11 sites across the country, with approximately 35 percent of the country’s electricity currently powered by its technology

• Net-Zero Teesside (NZT) Power is expected to be one of the first gas-fired power stations of its kind - fully integrated with carbon capture technology.
• Consortium and technology selection marks an important next step towards the proposed development of bp’s NZT Power project in the UK, aiming to capture up to 2 million tonnes of CO2 per year.
• Project is expected to provide flexible, dispatchable low-carbon power equivalent to the average electricity requirements of around 1.3 million UK homes, and to progress the deployment of carbon capture technology in line with the UK Government’s net-zero programme.

Technip Energies (PARIS: TE), leader of a consortium with GE Vernova, and construction partner, Balfour Beatty, received a Letter of Intent from bp, on behalf of NZT Power Limited for the execution phase of the Net Zero Teesside Power (NZT Power) in the United Kingdom.

This landmark project is poised to become one of the world’s first commercial scale gas-fired power stations with carbon capture, expected to capture up to 2 million tonnes of CO2 per year. The project is set to provide flexible, dispatchable low-carbon power equivalent to the average electricity requirements of around 1.3 million UK homes, further supporting the nation's transition to a cleaner energy future.

The NZT Power project is also a key component of the Carbon Capture, Usage and Storage (CCUS) East Coast Cluster and has been shortlisted for government funding support as part of the UK's net-zero programme. This selection follows the Development Consent Order recently having been granted by the Secretary of State for the Department for Energy Security and Net Zero.

The Technip Energies and GE Vernova consortium, supported by leading infrastructure group Balfour Beatty, will play an important role constructing a highly efficient combined cycle plant. It will be powered by an advanced GE Vernova 9HA.02 gas turbine, a steam turbine, a generator and a Heat Recovery Steam Generator (HRSG), which will integrate with a state-of-the-art carbon capture plant using Technip Energies’ Canopy by T.ENTM solution powered by the Shell CANSOLV® CO2 capture technology.

Technip Energies, GE Vernova, and Balfour Beatty, supported by Shell in the UK are forming the Carbon Capture Alliance (CCA). The alliance members are deeply committed to long-term investment in the UK, with members already possessing a significant UK footprint and a mature UK supply chain.

In March 2023, the UK government announced up to £20 billion to support the initial deployment of CCUS, focused on creating four clusters by 2030, including the East Coast cluster which includes Teesside. Government analysis shows that up to 10 gigawatts of power CCUS could be needed in order to decarbonise the UK power sector by 2035 (10GW is around 10% of the total UK electricity system today).

Arnaud Pieton, CEO of Technip Energies, commented, “Our selection for the Net Zero Teesside Power project is a testament to Technip Energies growing leadership position as an integrated state-of-the-art CCUS solutions provider. By capturing up to 2 million tonnes of CO2 at a large power plant, we collectively rise to the challenge of scale by providing sustainable and available energy at a large scale. With our partners GE Vernova and Balfour Beatty, we are honoured to contribute to this flagship project that supports bp and the UK in their goal of developing one of the first decarbonised industrial clusters in the world.”

Maví Zingoni, CEO, Power at GE Vernova, commented: “The development of Net Zero Teesside Power, one of the world’s first commercial scale gas-fired power stations with carbon capture, marks a huge step towards supporting the UK government’s commitment to fully decarbonise its power system by 2035. GE Vernova will help bring proven expertise in natural gas combined cycle plant engineering, operability, and full-scale integration to support carbon abatement for this project. We believe post-combustion carbon capture can play a crucial role in reducing emissions and ensuring dispatchable power in the future.”

Leo Quinn, CEO of Balfour Beatty Group, said: “Today’s announcement takes us a step closer to realising one of the world’s first commercial scale gas-fired power stations with carbon capture . It’s a significant milestone in delivering the critical infrastructure needed to transition the UK to Net Zero. Balfour Beatty’s market leading capabilities, underpinned by our unrivalled experience and proven track record in delivering complex infrastructure projects, means we are perfectly positioned to support the delivery of this critical project alongside Technip Energies and GE Vernova – proving on the world-stage that the UK is primed and ready to lead the way in decarbonising our industrial footprint.”

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About Technip Energies 
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.ten.com.

About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 80,000 employees across 100+ countries around the world. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

About Balfour Beatty 
Balfour Beatty is a leading international infrastructure group with over 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.

We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Over the last 114 years we have created iconic buildings and infrastructure all over the world. Currently, we are working to deliver Hinkley Point C, the first UK nuclear power station in a generation; constructing the world-class arts and cultural facility, the Lyric Theatre, in Hong Kong; and designing, building, financing, operating and maintaining the Automated People Mover superstructure at the fifth busiest airport in the world, Los Angeles International Airport.

Important Information for Investors and Securityholders

Forward-Looking Statement

This Press Release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

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Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

• Turbine is one of the first of the next generation 13 MW+ wind turbine generators to become operational at sea and the largest ever installed in European waters
• Milestone follows three years of testing
• Dogger Bank Wind Farm will be largest in the world and capable of supplying the equivalent of 5% of UK’s electricity demand when completed

Teesside, UK: October 10th, 2023 – GE Vernova’s Offshore Wind business announced today that its first ever Haliade-X offshore wind turbine installed at sea began producing power as part of the Dogger Bank Wind Farm located 130 km off the UK coast. The turbine was one of the first of the next generation wind turbine generators at 13 MW+ to become operational at sea and the largest ever installed in European waters.

The 13 MW Haliade-X turbine was the first of 277 turbines that will be installed at the 3.6 GW Dogger Bank Wind Farm that will be the largest in world when completed. The Dogger Bank Wind Farm, which is being built in three phases - Dogger Bank A, B, and C – will use a mix of 13 and 14 MW Haliade-X turbines to power the equivalent of 6 million UK households or about 5% of the UK’s electricity demand.

GE Vernova's Offshore Wind business CEO Jan Kjaersgaard said, "Energizing the first Haliade-X at sea is another important step in the evolution of the offshore wind industry. The Haliade-X was designed to provide clean, reliable renewable energy at scale to projects such as Dogger Bank. It is exactly the kind of innovative technology GE Vernova will rely on to continue to electrify the world while simultaneously working to decarbonize it."

When the Haliade-X was introduced in 2018 it was the first 12MW + offshore wind turbine in the industry. It was designed as part of a platform that enabled it to evolve to meet the industry’s need for more efficient turbines capable of producing more power with the same amount of wind.

In developing the Haliade-X, GE Vernova’s Offshore Wind business relied on unprecedented collaboration across the GE portfolio, leveraging the knowledge of GE Onshore Wind, LM Wind Power, GE Power, GE Aviation, GE Digital and the company’s Global Research Center.

A prototype of the Haliade-X has been operating on land in the port of Rotterdam in the Netherlands for over three years. The Haliade-X received independent certification from DNV to operate at up to 14.7 MW as a result of extensive testing conducted on the prototype.

In addition to supplying power to the historic Dogger Bank Wind Farm, the Haliade-X will also be used as part of the 800 MW Vineyard Wind project that will become the first utility scale wind farm in the US and the Ocean Wind I project in New Jersey.

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About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 80,000 employees across 140+ countries around the world. GE Vernova’s Offshore Wind business is one of the world’s leading offshore wind energy and services provider, with wind turbines capable of a proven performance up to 14 megawatts.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

Varco Energy, a pioneering UK-based battery storage asset owner and operator, and GE Vernova’s Solar & Storage Solutions business, are pleased to announce a partnership for the development of a 57 MW / 138 MWh transmission connected Battery Energy Storage System (BESS) south of Liverpool, UK.