WILMINGTON, North Carolina (August 13, 2025) – High burnup fuel rods, manufactured by Global Nuclear Fuel (GNF, a GE Vernova-led joint venture with Hitachi, Ltd.) have been delivered to the U.S. Department of Energy’s (DOE) Pacific Northwest National Laboratory (PNNL) for examination after commercial operation.

The shipment contained rods from GNF2 assemblies that were initially loaded into a U.S. nuclear power plant for two cycles of operation. In close coordination with the plant operator, the assemblies were redesignated as high burnup lead use assemblies through GNF’s U.S. Nuclear Regulatory Commission (NRC) approved licensing process and then reloaded for an additional cycle to achieve operation in the reactor beyond current NRC licensing limits. PNNL is analyzing the rods to determine the impact of the additional cycles on the fuel and cladding performance.   

“The examination of these rods is the next step in our continuous drive to develop higher efficiency fuels that are safer and more reliable,” said Craig Ranson, Installed Base CEO, GE Vernova Hitachi Nuclear Energy. “We are proud to be part of this collaboration with the U.S. Department of Energy, PNNL and our utility partners to benefit the entire industry.”

“This is a significant milestone for our Accident Tolerant Fuel program,” said Frank Goldner, the Accident Tolerant Fuel federal program manager in the Office of Nuclear Energy. “The development of this fuel could further support the Trump Administration’s executive order to facilitate five gigawatts of power uprates at existing power plants by 2030 and high burnup fuels could be a big part of that.”

“This delivery represents a rare and valuable opportunity,” said Mark Nutt, director of PNNL’s nuclear energy market sector. “We look forward to realizing the full scientific potential of this material—that’s an area where PNNL is especially capable, given our multidisciplinary strengths. The resulting research could help achieve several important goals in service to the nation and go a long way toward providing abundant and reliable energy to the grid allowing for US energy dominance.”

The fuel rods were manufactured at GNF’s Wilmington, NC facility. Evaluation of the rods will help provide GNF and DOE with valuable information about high burnup fuel, a key goal of DOE’s Accident Tolerant Fuel (ATF) program.

High burnup fuel is expected to improve fuel cycle economics and further support power uprates for commercial nuclear power plants by enabling fuel to remain in the reactor core for longer periods of time while also operating at higher efficiency.

It is anticipated that the need for fewer bundles over time will enhance nuclear safety and reduce the spent fuel generated for long-term storage. The post-irradiation fuel rod examinations to be performed by PNNL support GNF’s development, engineering and licensing efforts to ensure the continued safe and reliable performance of fuel under expanded operating conditions.

The fuel shipped to PNNL is the same design that will be used in the initial core designs of the GVH BWRX-300 small modular reactor. The data obtained through this program will be used to support future potential economic improvements in BWRX-300 fuel cycle designs, including extending fuel cycle lengths to 36 to 48 months. 

A bolt of lightning crackles through the air. An instant later there’s a flash, followed by an ominous sizzle: the lightning struck a powerline. Normally, you’d run inside and call the electric company.

The AI data center boom is now a big and freewheeling American business story. According to the U.S. Energy Information Administration, this quickly emerging industrial demand for power will help drive U.S. electricity generation to all-time highs not just this year but next year as well.

Today, GE Vernova released its second quarter 2025 financial results. We had a strong quarter, with continued growth, margin expansion, increasing backlog, and positive cash flow. We are raising our 2025 financial guidance based on our strong first half execution and momentum in our Power and Electrification segments.

CAMBRIDGE, Mass. (July 23, 2025) – GE Vernova Inc. (NYSE: GEV), a unique industry leader enabling customers to accelerate the energy transition, today reported financial results for the second quarter ending June 30, 2025.

“GE Vernova had a productive second quarter, positioning us well to continue to accelerate our growth and margin expansion from here. We grew our backlog by more than $5 billion and increased our Gas equipment backlog and slot reservation agreements from 50 to 55 gigawatts. With strength in Power and Electrification, we are raising our revenue, adjusted EBITDA margin, and free cash flow expectations for the year,” said GE Vernova CEO Scott Strazik. “We are at the beginning of an investment supercycle into more reliable baseload power, grid infrastructure and decarbonization solutions. Our near-term results are improving, but more importantly, our long-term potential is accelerating faster.”

"We had a strong first half of 2025 as we continued executing our financial strategy. We are delivering disciplined revenue growth, margin expansion, and positive free cash flow from stronger earnings, down payments and working capital management, resulting in further improvement in linearity. Our accelerated cost transformation efforts will position us for continued improvement in our performance,” said GE Vernova CFO Ken Parks. “We executed on our commitment to return cash to shareholders through our share repurchase actions and quarterly dividend payment, while maintaining a healthy cash balance and solid investment grade balance sheet. Based on our performance, we are now trending towards the higher end of our 2025 revenue guidance and have increased our expectations for adjusted EBITDA margin and free cash flow.”

Read full press release

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*Non-GAAP Financial Measure. See the section titled “Non-GAAP Financial Measures” in the press release, which is accessible at the link above.

[1] Defined as remaining performance obligation (RPO)

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “guidance”, “will”, “may,” and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements about the benefits we expect from our lean operating model; our expectations regarding the energy transition; the demand for our products and services; our ability to navigate the current dynamic environment; the estimated impact of tariffs; our expectations of future increased business, revenues, and operating results; our ability to innovate and anticipate and address customer demands; our ability to increase production capacity, efficiencies, and quality; our underwriting and risk management; current and future customer orders and projects; our actual and planned investments; our expected cash generation and management; our capital allocation framework, including share repurchases and dividends; operational safety; our restructuring programs and strategies to reduce operational costs; and our credit ratings.

Forward-looking statements reflect our current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties, and other factors, which could cause our actual results, performance, or achievements to differ materially from current expectations. Some of the risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by forward-looking statements include the following:

• Our ability to successfully execute our lean operating model;
• Our ability to innovate and successfully identify and meet customer demands and needs;
• Our ability to successfully compete;
• Significant disruptions in our supply chain, including the high cost or unavailability of raw materials, components, and products essential to our business;
• Significant disruptions to our manufacturing and production facilities and distribution networks;
• Changes in government policies and priorities that reduce funding and demand for energy equipment and services;
• Shifts in demand, market expectations, and other dynamics related to energy, electrification, decarbonization, and sustainability;
• Global economic trends, competition, and geopolitical risks, including conflicts, trade policies, and other constraints on economic activity;
• Product quality issues or product or safety failures related to our complex and specialized products, solutions, and services;
• Our ability to obtain required permits, licenses, and registrations;
• Our ability to attract and retain highly qualified personnel;
• Our ability to develop, deploy, and protect our intellectual property rights;
• Our capital allocation plans, including the timing and amount of any dividends, share repurchases, acquisitions, organic investments, and other priorities;
• Our ability to successfully identify, complete, integrate, and obtain benefits from any acquisitions, joint ventures, and other investments;
• The price, availability, and trading volumes of our common stock;
• Downgrades of our credit ratings or ratings outlooks;
• The amount and timing of our cash flows and earnings;
• Our ability to meet our sustainability goals;
• The impact from cybersecurity or data security incidents;
• Changes in law, regulation, or policy that may affect our businesses and projects, or impose additional costs;
• Natural disasters, weather conditions and events, public health events, or other emergencies;
• Tax law and policy changes;
• Adverse outcomes in legal, regulatory, and administrative proceedings, actions, and disputes; and
• Other changes in macroeconomic and market conditions and volatility.

These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements, and these and other factors are more fully discussed in our Annual Report on Form 10-K for the year ended December 31, 2024, and in the Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" sections included therein, as may be updated from time to time in our SEC filings and as posted on our website at www.gevernova.com/investors/fls. We do not undertake any obligation to update or revise our forward-looking statements except as may be required by law or regulation. This press release also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially.

Additional Information
GE Vernova’s website at www.gevernova.com/investors contains a significant amount of information about GE Vernova, including financial and other information for investors. GE Vernova encourages investors to visit this website from time to time, as information is updated, and new information is posted. Investors are also encouraged to visit GE Vernova’s LinkedIn and other social media accounts, which are platforms on which the Company posts information from time to time.

Additional Financial Information
Additional financial information can be found on the Company’s website at: www.gevernova.com/investors under Reports and Filings.

Conference Call and Webcast Information
GE Vernova will discuss its results during its investor conference call today starting at 7:30 AM Eastern Time. The conference call will be broadcast live via webcast, and the webcast and accompanying slide presentation containing financial information can be accessed by visiting the investor section of the website www.gevernova.com/investors. An archived version of the webcast will be available on the website after the call.

ATLANTA (July 22, 2025) - GE Vernova Inc. (NYSE: GEV) and Crusoe, the industry’s first vertically integrated AI infrastructure provider, today announced a significant deal to deliver 29 units of GE Vernova’s breakthrough LM2500XPRESS aeroderivative gas turbine packages to Crusoe AI data centers.

The announced order of 19 units, booked in June 2025, builds on the first series of 10 units Crusoe ordered in December 2024, and combined, is expected to provide nearly 1GW of electricity. These orders highlight GE Vernova’s ability to provide flexible and efficient power to energy intense data centers supporting AI applications.

"AI's exponential growth demands rapidly deployable power solutions. Crusoe’s capabilities as an energy-first digital infrastructure builder have positioned us well to take the issue of power into our own hands by rapidly building and operating power plants alongside AI datacenters. With their flexible and efficient technology, GE Vernova power generation equipment was an ideal choice to enable power plant strategies across Crusoe’s growing datacenter development portfolio," said Cully Cavness, co-founder, president and COO of Crusoe. “We’re building AI factories at record speed, and GE Vernova’s technology is a key enabler, significantly accelerating the path to energization for our customers and partners.”

These aero units provide the flexibility and reliability of modern, efficient jet engines used by airlines around the world thousands of times per day. Just like the throttle of an airplane, these units can ramp up and down rapidly. The already low emissions from these units are further reduced by SCR technology. This technology removes emissions through a catalytic converter transforming nitrogen oxides into water vapor and nitrogen, producing 90% lower emissions than traditional gas or diesel-powered reciprocating engines with little to no methane slip.

“This project clearly illustrates our ability to provide the right solutions for data centers and power applications of all sizes and scales,” said Pablo Koziner, GE Vernova’s Chief Commercial and Operations Officer. “From a single aero unit producing ~35 megawatts to this 29-unit project, to our industry leading HA heavy duty gas turbines to small modular nuclear reactors, we have the full suite of generation options to help meet today’s and tomorrow’s energy needs.”

LM2500XPRESS units

The LM2500XPRESS units are engineered for swift and straightforward site installation, with 95 percent factory assembly into simplified modules. A single 35-megawatt LM2500XPRESS aero unit has a higher power density, reliability and availability when compared to other technologies in prime or standby applications and the capacity to offer savings on real estate, switchgear, transformers, and overall site footprint. Each of GE Vernova’s LM2500XPRESS, dual fuel, power packages is comprised of a LM2500* aeroderivative gas turbine, gas compressor, and emissions control system, and is capable of starting independent of the power grid with five-minute fast start capability.

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Notes to editors

* Trademark of GE Vernova and/or its affiliates

Financial editors: the order of 19 aeroderivative gas turbines was booked in the second quarter of 2025. The order for the first series of 10 units was booked in December 2024.

Like many science-obsessed kids in the 1990s, William Tan wanted to be an astronaut when he grew up. Then came a reality check. “I realized I wasn’t a citizen of a country that sent people to space,” says Malaysian-born-and-raised Tan, who is now senior robotics and autonomous systems engineer at GE Vernova’s Advanced Research Center in Niskayuna, New York.

CAMBRIDGE, Mass. (July 21, 2025) - GE Vernova Inc. (NYSE: GEV) and Alteia SAS today announced that GE Vernova has agreed to acquire Alteia SAS. Alteia is a France-based software company specializing in AI computer vision and machine learning, to bring visual intelligence into operations. The acquisition of Alteia is intended to further GE Vernova’s strategy to bolster AI capabilities and give utilities visual data solutions that provide situational intelligence and actionable insights.

GE Vernova’s GridOS® portfolio, within the Electrification Software business, helps utilities proactively plan for and operate the electric grid through disruptive events such as storms and wildfires that can impact the availability of reliable power to customers. GE Vernova currently offers Alteia’s software to customers through its GridOS® Visual Intelligence, which uses visual data and AI-enabled workflows to help utilities “see” the grid and assess damage, identify where vegetation should be trimmed, and inspect key assets along thousands of miles of electrical lines.

Through this acquisition, GridOS Visual Intelligence will further integrate visual data and operational data from core systems, like Advanced Distribution Management Software, to take action on the data and help utilities "see and sense" the grid, providing an enhanced level of situational awareness. Continued advancements of the AI-workflows will build on the insights delivered to help utilities reduce the probability of catastrophic events and enhance resiliency with expedited damage assessments to rebuild and restore the grid.

Scott Reese, CEO of GE Vernova’s Electrification Software business, said: “With this acquisition, we are excited to increase our investment in a critical element of our GridOS offering. Together with the Alteia team, whose expertise will help to advance our AI- and data-centric vision for GridOS, GE Vernova will be able to solve for critical pain points that our utility customers face every day and help them use visual data and AI in an actionable way to prevent disruptions or restore power quickly. This acquisition aims to further solidify our position as a data and AI leader in grid orchestration software and pave the way for additional use cases that could enhance the visual precision needed for modern grid operations.”

Michael de Lagarde, CEO of Alteia SAS, said: “We started Alteia with the mission to simplify visual data integration and analysis for utilities, a vision that aligns perfectly with GE Vernova’s GridOS portfolio. This acquisition is more than just a strategic step - it enhances our ability to deliver cutting-edge solutions to our clients while accelerating our AI roadmap for smarter, more efficient infrastructure operations. At a broader level, Alteia and GE Vernova share a deep commitment to tackling the urgent challenge of building and maintaining more resilient infrastructure networks. That’s why we are incredibly proud to join forces with the company that has been powering the world from day one.”

The financial terms of the acquisition are not being disclosed. The transaction is expected to close on August 1, 2025.

For more information on GridOS and how it can help utilities navigate the energy transition, click here.

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About Alteia
Alteia is a France-based software company headquartered in Toulouse, and a leading provider of AI-driven visual intelligence solutions, transforming how industries harness visual data for operational decision-making.

By enabling broad operational use of visual data, Alteia empowers businesses to extract actionable insights from images, 3D data, geospatial data and more, streamlining workflows and enhancing efficiency across critical infrastructure sectors.

At the core of Alteia’s technology is its advanced artificial intelligence (AI) stack, which enables grid operators and infrastructure managers to proactively address growing physical, financial, and compliance risks. By leveraging AI-powered analytics, these stakeholders gain unparalleled visibility into asset conditions, enabling smarter planning, risk mitigation, and cost optimization in an increasingly complex regulatory environment.

With a commitment to innovation and scalability, Alteia is defining the future of visual intelligence, ensuring organizations remain resilient, efficient, and future-ready.

GE Vernova Forward-Looking Disclaimer
This press release 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, the expected completion of the acquisition of Alteia SAS, the expected performance of GE Vernova’s products and those it expects to acquire, 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 the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

Over next two years company creating approximately 700 new jobs across multiple factories

and investing up to $100 million in Pennsylvania

Cambridge, MA (July 15, 2025) – As energy demand continues to surge, GE Vernova (NYSE: GEV) plans to add 250 new jobs over the next two years at the company’s leading grid solutions factory in Charleroi, PA.

The new roles will help manufacture more high voltage switchgear products, which are critical components for stable and reliable operation of the nation’s electrical grids.

GE Vernova now plans to invest up to $100 million in Pennsylvania over the next two years, adding approximately 700 new jobs across multiple factories in the state that will help modernize the grid for economic growth, strengthen domestic supply chains, and boost national security.

This new Charleroi factory expansion builds on the company’s $600 million multi-year investment announced in January, originally expected to create a total of 1,500 new jobs across numerous U.S. factories.

“Powering the grid is at the core of powering America’s economy,” said Scott Strazik, CEO of GE Vernova. “These new jobs and investment reflect our ongoing commitment to not only building critical grid infrastructure with American workers, but reindustrializing Pennsylvania’s proud manufacturing legacy. They will also help strengthen our domestic supply chain, improve national security, and boost global competitiveness by closing a crucial gap.”

“We are investing in Charleroi and our advanced grid technology because it complements the investments we've made in power generation,” Strazik continued. “For the US to lead in energy, manufacturing critical domestic grid infrastructure is just as important generation.”

In addition to the new investment in its Charleroi facility, GE Vernova also announced it has secured a full order to provide seven of its high efficiency 7HA.02 natural gas turbines to the Homer City Energy Campus. The facility, once the largest coal plant in Pennsylvania, will provide up to 4.4GW of electricity to power what will become 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. The Homer City Energy Campus is expected to be completed in 2027. ***

“The Homer City project shows what smart energy investments can achieve — delivering more reliable, affordable power for all, creating thousands of skilled jobs, and positioning Pennsylvania to help lead the next era of AI,” Strazik added.

The approximately $100 million of new investments in Pennsylvania over the next two years are part of a larger $9 billion cumulative global capex and R&D investment plan through 2028 that was announced at the company’s Investor Update in December 2024.

Currently GE Vernova’s technology helps produce more than half of the power in the United States, and the company has more than 18,000 workers across 50 states and 18 U.S. manufacturing facilities. 

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***For financial editors: the seven 7HA.02 gas turbines were announced as slot reservation agreements on April 2, 2025. These units have since moved to a secured order in 3Q25.