When Miguel Vicedo was a graduate engineering student in Chicago, he attended a career fair with one idea in mind: the bigger, the better. Large companies, from his perspective, meant large opportunities, especially for someone from a small town who longed to travel and experience different cultures.

Vicedo met a recruiter from GE Vernova and considered how the company checked all the boxes. It was multifaceted and international, a massive business producing giant machines. Sign me up, he said.

Sulaymaniyah, IRAQ (April 28,2025) – GE Vernova (NYSE: GEV) announced today the AGP XPAND upgrade, an evolution of its proven Advanced Gas Path (AGP) technology introduced more than a decade ago on the company’s 9E.03 fleet to boost gas turbine capacity. The first AGP XPAND is planned to be installed at the 1,250 MW Bazyan Power Plant —operated by Taurus Energy, a portfolio company of Onex Group, a private energy group with a track record in power generation, utilities, energy trading, shipping, and refining.

The news was celebrated in Sulaymaniyah in the presence of H.E. Qubad Talabani, Deputy Prime Minister of the Kurdistan Regional Government, H.E. Kamal Mohammad Salih Khalil, Minister of Electricity in the Kurdistan Regional Government and Mr. Steven Bitner, Consul General at the U.S. Consulate General Erbil along other senior government officials and local business leaders.

The new technology is engineered to help gas plant power producers and industrial operators increase their 9E.03 gas turbines output by up to approximately 7 percent, with an approximately 1 percent of incremental efficiency, while keeping reliability, availability, and maintenance largely unchanged. In addition, exhaust energy could increase by up to 2.6 percent to produce more steam or power, for combined heat and power (CHP) plants or combined cycle plants, like the Bazyan power plant.

Taurus is welcoming this technology, which could modernize its Bazyan site, powered by four GE Vernova 9E.03 and two 9F.04 gas turbines. The plant is fueled by natural gas as the primary fuel source and light fuel oil as back–up fuel and engineered for base-load operations with an expected lifetime of 25-30 years. The AGP XPAND upgrade is expected to enhance the current capacity and deliver additional much-needed electricity to the Kurdistan Region as well as nearby cities and governorates such as Mosul and Salahaldin.

Additionally, a new 17-year long term service agreement was signed covering four GE Vernova’s 9E units with the first 9E Rotor Life Extension package in Iraq, demonstrating an extension of the strategic collaboration between the two companies.

“We have a long-standing relationship with GE Vernova. For over a decade, we have been utilizing GE Vernova’s technology, and we are proud that Taurus, part of the Onex Group, is leading the way in bringing this breakthrough technology to Iraq,” said Sheikh Saad Tayeb Hasan, Founder & Chairman of ONEX. “By utilizing Kurdistan Region’s natural gas resources and power generation capacity, we are laying the foundation to create an energy hub. Through projects like Bazyan, we can contribute to the efforts to meet local energy needs as well as transmit additional power to other parts of the country. Our celebration today truly confirms GE Vernova’s long-term commitment to Iraq.”

Latest Game Changer in AGP technology

Built on 9E’s fleet experience and the technical improvements from the 9E.03 AGP, AGP XPAND components have evolved by making additional updates to the materials and sealing of AGP components, enabling a substantial increase the firing temperature above that of the 9E AGP. These components were engineered by GE Vernova’s teams in Greenville, South Carolina, United States and in GE Vernova’s Engineering Center in Warsaw, Poland. They are produced at the company’s Manufacturing Excellence Centers in Belfort, France and Vereseghyaz, Hungary.

“With over 730 units deployed worldwide, half of which are installed in the Middle East and Africa, GE Vernova has the largest operating and most experienced E-class fleet in the world and confirms its commitment to keep its mature fleets competitive in today’s very dynamic marketplace,” said Amit Kulkarni, Head of Product Management & Strategy, Gas Power at GE Vernova. “Improving existing technologies is the fastest way to inject power to the grid. The modernization of the current 9E.03 installed base can boost the power output and efficiency of existing 9E.03 gas turbines across the world. This would lead to a possible cumulative increase of up to 5 gigawatts of electricity at the global level, and a combined more than $100* million in fuel savings annually for the same baseline output, while opening up the potential for an aggregate incremental profitability of up to $310 million annually due to the new power capacity*.”

GE Vernova 9E.03 units using natural gas, distillate oil or ash-bearing fuels, both in a simple or combined cycle configuration, can be upgraded to AGP XPAND during a typical hot gas path or major inspection.

“We are delighted to celebrate the new long term service agreement and the installation of our new upgrade at the Bazyan power plant,” said Joseph Anis, President & CEO of GE Vernova’s Gas Power business in Europe, Middle East, and Africa. “We trust this upgrade represents an excellent solution for countries like Iraq, which have a large 9E.03 installed base and pressing needs to meet growing energy demand. We are delighted to work with Taurus Energy on this essential project as reliable operations at strategic facilities, such as the Bazyan power plant, are crucial to sustain economic development efforts across the country.”

GE Vernova has supported the development of energy infrastructure in Iraq for 60 years and helped to build and service power plants and grid substations. It has added more than 19 GW of power capacity since 2011, built and energized more than 30 substations since 2015, and mobilized over $3 billion in financing for energy projects since 2015.

* Considering the entire 9E fleet, using 4,000 hours / years of operation, fuel price of $3/MMBtu, and electricity price of $40/MWh

** Incremental profitability due to additional output (the additional revenues, minus the additional fuel costs, which are needed to generate the additional MW)

END

Notes to editors

Financial Editors:  Please note this order was booked in the first quarter of 2025

CHARLOTTE, N.C. and CAMBRIDGE, MASS. (April 24,2025) – Duke Energy (NYSE: DUK) and GE Vernova (NYSE: GEV) announce a significant partnership for natural gas turbines and other associated equipment to meet the growing needs of advanced manufacturing, data centers and population growth.

The arrangement between the companies includes a plan to advance specific projects for up to 11, 7HA gas turbines consistent with Duke Energy’s integrated resource plans. This will help the company meet its business strategy to provide reliable energy and keep customer costs as low as possible, as well as meeting even the most robust growth scenarios in the future. This is in addition to the eight recently secured 7HA gas turbines.

“As we continue to experience unprecedented growth in our service territories, securing the necessary materials to build critical infrastructure and meet the energy demand is integral to delivering value for our customers and other stakeholders,” said Duke Energy President and CEO Harry Sideris. “We value our collaboration with forward-thinking partners who assist us in advancing our energy modernization strategy.”

The agreement is made possible because of the previously announced expansion of GE Vernova’s Greenville, S.C. facility to accommodate historic demand for gas turbines from new and existing customers. The expansion, which is part of a nearly $600 million investment in U.S. manufacturing over the next two years includes a nearly $300 million investment in its Gas Power business in the U.S. These investments will replace legacy manufacturing processes with lean manufacturing lines, supporting increases in supplier capacity, creating more than 1,500 new jobs in the country and other enhancements.

“This arrangement with Duke Energy and the significant expansion of our U.S. manufacturing facilities illustrate our ability and commitment to developing innovative solutions that our customers require to meet today and tomorrow’s energy demands,” said Scott Strazik, CEO, GE Vernova. “We are proud to be able to supply these Greenville, SC manufactured gas turbines to a leading U.S. energy company and service to its consumers,”

Locating these new assets at Duke Energy facilities enables them to utilize existing infrastructure, including transmission capabilities, significantly reducing cost and speeding time to market.

Duke Energy 
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

American author and activist Helen Keller once observed that “optimism is the faith that leads to achievement.” Could optimism itself, therefore, be harnessed as a strategy? GE Vernova thinks so. At just one year old, the standalone energy technology company is remaking itself into a key player in the global energy transition.

Keeping up with changes that support customers’ needs and increase employee satisfaction is an important part of building the future at GE Vernova. Though working from different parts of the world, these three team members — who appeared today at the New York Stock Exchange opening bell to celebrate Earth Day — share values, and each one sets an example by bringing talent and enthusiasm to their work in building relationships with people from a variety of backgrounds and cultures.

Building Bridges for Inclusion: Julia Lima

Tokyo, Japan – (April 17, 2025) – GE Vernova Inc. (NYSE: GEV) today announced that the Japanese joint venture Goi United Generation (GIUG)’s Goi Thermal Power Station achieved the start of commercial operation in Chiba Prefecture, part of the Greater Tokyo Area. The joint venture comprises Japan's largest power producer by capacity JERA, ENEOS Power and regional utility Kyushu Electric Power. The plant, powered by three GE Vernova 9HA.02 gas turbines, the first of its kind installed in Japan, is expected to deliver more than 2.3 Gigawatts (GW) to the grid to help provide reliable electricity and the stable supply of electricity in Japan.

In addition to the gas turbines, for this project, GE Vernova delivered three GE Vernova Heat Recovery Steam Generators (HRSGs), with the Pressure Part Modules built in GE Vernova’s factory in Changwon, South Korea and delivered each HRSG in only three prefabricated Supermodules assembled in Tongyeong, South Korea, and then transported across the ocean to Japan. The HRSG plays an important part in a combined cycle power plant as it uses heat from the gas turbine exhaust to generate super-heated steam, which powers a steam turbine to create up to 50% more energy without any additional fuel.

The installation of advanced GE Vernova HA equipment and Toshiba's steam turbines and generators renewed the power plant initially built in the 1960s and retired in 2018, enabling an estimated 16 percent reduction of CO2 emissions compared to the old facility.

“The commissioning of this plant marks the completion of the construction of one of the largest LNG-fired power plants in Japan, with an output capacity amounting to the equivalent to the power needed by 2.2 percent of homes in Japan” said Mr. Sato of Goi United Generation CEO. “Providing safe and reliable electricity while contributing to the reduction of CO2 emissions is crucial. GE Vernova’s HA gas turbines are engineered to enable high output and efficiency and the new plant will help support Japan’s commitment to reduce carbon emissions per unit of fuel.”

GE Vernova worked with Toshiba to integrate the currently largest HRSG Supermodules in the world at the Goi plant following a very complex, and safely delivered, transport from South Korea to Japan. Each Supermodule weighs approximately 2,500 metric tons and measures between 43 to 46 m in height, almost as tall as The Arc de Triomphe in Paris or a 15-floor building. Despite space limitations and logistical challenges, GE Vernova and Toshiba jointly adapted to unique circumstances, and successfully delivered these Supermodules and completed the Goi plant.

“In Japan, GE Vernova continues to support the advancement of the country's energy goals, working alongside our long-term customers GIUG” said Ramesh Singaram, President & CEO for GE Vernova’s Gas Power Asia. “In addition, GE Vernova has a longstanding cooperation with Toshiba over 100 years, fostering numerous milestones together and the safe transport, installation and commissioning of our 9HA.02 gas turbines and our HRSG Supermodules is a great example of that. We’re proud that equipment of that size and tailored to withstand earthquakes was delivered to the Goi site safely—where it can play a crucial role supplying electricity for Japanese homes and businesses.”

With an installed base of more than 7,000 gas turbines and 1,300 HRSGs worldwide and significant technical expertise, GE Vernova delivers gas turbines and HRSG solutions that are custom engineered to help meet customers’ operating flexibility and performance requirements.

Over the last 130 years, GE Vernova has contributed towards Japan’s stable power supply by providing power generation equipment including gas turbines, steam turbines, nuclear reactors, hydro and wind turbines. GE Vernova equipment currently provides about half of Japan’s gas power capacity and supports the country’s growing renewable and nuclear energy needs. Initiatives that GE Vernova is driving together with key players in Japan include the development of more efficient and advanced gas turbines and hydrogen combustion capable equipment, and technology for ammonia combustion in collaboration with IHI.

For more information GE Vernova’s white paper: “Decarbonization pathways for Japan – challenges in the power sector from 2023-2050”

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LONDON (April 11, 2025) — GE Vernova’s Nuclear business, GE Hitachi Nuclear Energy (GEH), has submitted its final tender response, as part of Great British Nuclear’s (GBN) ongoing small modular reactor (SMR) selection competition.

GEH’s BWRX-300, a 10^th generation design, builds on decades of real-world boiling water reactor 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 (OPG) are developing the first BWRX-300 – the first SMR in the G7 – at OPG’s Darlington site near Toronto. Early site preparation work has been completed. OPG has received a license to construct the first unit from the federal nuclear regulator, the Canadian Nuclear Safety Commission, and awaits the go-ahead from the provincial government to proceed with construction.

"The Government has a unique opportunity to position the UK at the forefront of delivering the next generation of nuclear power and this submission marks a significant step forward in achieving this goal,” said Andy Champ, GEH UK Country Leader. “The BWRX-300 offers a simplified, safe, and scalable design, backed by a proven track record of advancing SMR technology internationally. Together with our strategic investment partners, we are eager to bring this expertise to the UK."

“We are pleased to submit our final proposal and are excited by the opportunity this milestone brings to the UK energy market,” said Maví Zingoni, CEO, GE Vernova's Power businesses. “Moving forward with two projects will help to establish an innovative new nuclear sector here in the UK, driving socio-economic growth up and down the country, creating jobs and unlocking greater opportunities to bolster the UK supply chain.”

GEH recently signed a series of Memorandum of Understanding (MoUs) with major UK firms Boccard and Cavendish Nuclear as well as Aecon, Amentum, AtkinsRéalis and Laing O’Rourke. These agreements build on GEH’s SMR supply chain conference held in Sheffield last 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 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.

Building on a deep history in the UK, GE Vernova has a significant local footprint with four manufacturing facilities across the country and more than 30 percent of the country’s electricity currently powered by our technology.

A high-rise Central Bank Tower under construction in Baghdad. A new port in Basra. A transborder road network that could be the next gateway between Asia and Europe. At construction sites across Iraq, cranes and backhoes are marking a new chapter in the country’s future: After a period of conflict and unrest, Iraq is moving forward to reclaim its economic potential.

Homer City, PA (April 2, 2025) – Today Homer City Redevelopment (HCR) and Kiewit Power Constructors Co. (Kiewit) announced the future of the former Homer City Generating Station. Homer City – previously the largest coal-burning power plant in Pennsylvania – will be transformed into a more than 3,200-acre natural gas-powered data center campus, designed to meet the growing artificial intelligence (AI) and high-performance computing (HPC) needs of the innovative technology companies shaping America’s digital future.

View the full release here: https://www.homercityredevelopment.com/post/former-homer-city-pa-coal-plant-officially-reopens-as-state-of-the-art-natural-gas-facility

Renderings of the Homer City Energy Campus available here: www.homercityredevelopment.com

ATLANTA, GA (March 31, 2025) – GE Vernova Inc. (NYSE: GEV) today announced its next generation of mobile aeroderivative gas turbines, “power plants on wheels” delivering

reliable and efficient power anywhere, whether on or off the grid. The new TM2500* Dry Low Emissions (DLE) is GE Vernova’s waterless, mobile 34MW power plant that offers higher-efficiency performance, up to 39 percent efficiency, with reduced NOx emissions and waste.

The mobile power solutions trend is being driven by a variety of factors. The global energy access gap worsens as population growth outpaces new connections: 76 million people are living without electricity access. The vast majority of that growth will happen in areas where the power grid is either very weak or does not exist at all. Another major driver is the need for emergency power for utilities, municipalities, datacenters and other industries. These industries rely on a stable power supply to grow and evolve. Finally, in an increasing number of countries, utilities are investing in rapid, highly mobile technology that can quickly bridge the power gap during blackouts, energy shortages or even natural disasters.

“The development of a decentralized energy network, where electricity is generated close to, or at, the point of use, also drives efficiency by reducing or eliminating energy losses from transmission and distribution, thus delivering both economic and environmental benefits.

With this new solution we are committed to offering customers across the world greater fuel and operational flexibility, coupled with increased sustainability,” said Clive Nickolay, CEO of GE Vernova’s Gas Power Aeroderivative business line. “The TM2500 DLE offers the same reliability of earlier models, but it is the first to operate without water and without any aftertreatment in emissions, as it produces lower nitric oxide (NOx), carbon monoxide (CO), and particulate matter (PM) emissions –compared to the previous mobile solutions and almost no methane slip.

The modular TM2500 DLE’s is more compact and easier to ship. It is on a two-trailer frame that offers on-site flexibility and boasts a 30-day lead time from contract to commissioning. Once installed, the TM2500 DLE has a five-minute fast start cycle, ideal for rapid response to sudden changes in power demand or grid stability. The unit’s mobility and speedy start up cycle allow the unit to meet a variety of needs in multiple locations – well-suited to grid-firming, construction, or the sudden shifting demands of emergency and natural disaster response.

GE Vernova’s TM2500 DLE builds on the proven reliability of earlier generations of mobile gas turbines which have been proving their versatility and reliability for 140 million accumulated hours of operation. The unit is fuel flexible, running on gas, liquid fuel, or hydrogen blend, to help operators to generate reliable power, despite possible fuel supply challenges or fluctuating costs.