CAMBRIDGE, Mass. (February 12, 2025) – With a focus on building the workforce needed to drive the future of energy, today the GE Vernova Foundation announced a landmark investment of $500,000 in scholarships for vocational and technical training in five cities across the United States for individuals of all backgrounds pursuing careers related to electric power. Today’s news comes the week after GE Vernova's announcement of nearly $600 million in planned investments in its U.S. factories and facilities over the next two years, expected to create approximately 1,500 new U.S. jobs, to help meet the surging electricity demands around the world.

In collaboration with the Atlanta-based SkillPointe Foundation, the GE Vernova Foundation aims to create a lasting impact on workforce development in the energy sector and help enable the future of energy. Launching in Charleroi, PA; Greenville, SC; Houston, TX; Schenectady, NY; Pensacola, FL - all home to GE Vernova facilities - the new “Future of Energy” Scholarship Fund will focus on students currently pursuing skilled trades or a technical career as well as the reskilling of adults looking to re-career. This $500,000 commitment will fund technical and vocational training to equip current and future workers with skills required for jobs in grid modernization, power generation and related fields. The two-year investment will provide 100 $5,000 scholarships, for a total of a $100,000 investment in each of the 5 locations.

“To keep pace with the demand and new innovations across the energy sector, we’re experiencing a growing need for a workforce that’s skilled in new technologies and functions,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “The GE Vernova Future of Energy SkillPointe Scholarship program supports our mission to electrify and decarbonize the world by fostering the next generation of skilled workers who can bridge the current skills gap and help power the energy transition forward.”

The SkillPointe Foundation, which has a proven track record in scholarship management, will oversee the program. “Our partnership with the GE Vernova Foundation is a natural fit, as both organizations share a commitment to bridging the skills gap and building tomorrow’s workforce,” said Alvin Townley, founding executive director of the SkillPointe Foundation. “In particular, we are honored to help build the workforce that will lead the future of energy.”

Applications and Eligibility
The GE Vernova Future of Energy SkillPointe Scholarship is open to individuals of all backgrounds seeking or enrolled in training for career paths not requiring a four-year degree. Among the program’s pathways of focus are:

• Construction
• Electrical systems
• Equipment technician
• Heavy equipment operation
• HVAC
• CNC Machining
• Mechatronics
• Pipefitting/Steamfitting
• Robotics
• Systems technician
• Welding

For information on how to apply for the GE Vernova Future of Energy SkillPointe Scholarship, please visit the GE Vernova FUTURE OF ENERGY SkillPointe Scholarship Application Link.

GE Vernova recently announced nearly $600 million in investments in U.S. manufacturing facilities over the next two years, which are projected to create approximately 1,500 new U.S. jobs. You can read more about the announcement here.

###

About GE Vernova Foundation
The GE Vernova Foundation, an independent charitable organization funded by GE Vernova, puts the company’s purpose – The Energy to Change the World – into practice across the global communities where employees live and work. Following the spinoff of GE Vernova as an independent company in April 2024 and building on the 100+ year legacy of the GE Foundation, the newly formed GE Vernova Foundation is prioritizing employees through programs such as Matching Gifts and STAR Awards. Its philanthropic strategy and programs are focused on growing stronger and more resilient communities and building the workforce needed to drive the energy transition forward. Learn more at www.gevernova.com/about/philanthropy.

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 SkillPointe Foundation
The SkillPointe Foundation partners with organizations like the GE Vernova Foundation, The Home Depot Foundation, and other industry and philanthropic leaders to provide scholarships to aspiring workers seeking skills training for high-demand careers not requiring a four-year degree. Specifically, the SkillPointe Foundation works with donors to manage strategic scholarship programs that increase economic mobility for workers while building the skilled workforce needed by American industry. In less than four years of operations, the Foundation has raised nearly $5M and funded more than 1,100 scholarships nationwide.

CAMBRIDGE, Mass. (February 12, 2025) – Today the GE Vernova Foundation announced a grant of $250,000 to Operation Helo in support of the ongoing Hurricane Helene relief efforts in Western North Carolina. Operation Helo, a veteran founded and led non-profit based in North Carolina, recently launched their Campers & Winter Warmth Initiative providing more than 200 new, fully equipped campers to displaced families, ensuring they have a safe and temporary place to call home. The GE Vernova Foundation funding of $250,000 will be directed to both support the continued need for more campers as well as the purchase of building supplies for those residents beginning their rebuilding efforts.

“As Western North Carolina continues to recover from the devastation caused by Hurricane Helene, we are proud to work with Operation Helo to ensure families in need have access to housing,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “Disasters such as these affect families for the long-term, and this will help provide them with the support needed to rebuild.”

“We are profoundly grateful to the GE Vernova Foundation for their generous grant to Operation Helo, said Eric Robinson, Co-Founder, Operation Helo. Their support plays a pivotal role in our ongoing efforts to rebuild and restore communities in Western North Carolina devastated by Hurricane Helene. This partnership empowers us to accelerate recovery, provide essential services, and help families regain stability and hope. Together, we’re rebuilding not just homes, but futures.”

Late last year, the GE Vernova Foundation announced a total of $500,000 in grants to support Hurricane Helene recovery efforts, with $250,000 immediately donated to the American Red Cross. Today’s announcement marks the donation of the remainder of the funds in the initial announcement.

In addition, GE Vernova employees who donate to relief organizations such as Operation Helo, the American Red Cross, Americares, CARE, St. Bernard Project, Team Rubicon and other participating relief organizations can register for a match with the GE Vernova Foundation’s Matching Gifts program, which supports employees’ personal philanthropy and charitable giving by providing a 1:1 match.

###

About GE Vernova Foundation
The GE Vernova Foundation, an independent charitable organization funded by GE Vernova, puts the company’s purpose – The Energy to Change the World – into practice across the global communities where employees live and work. Following the spinoff of GE Vernova as an independent company in April 2024 and building on the 100+ year legacy of the GE Foundation, the newly formed GE Vernova Foundation is prioritizing employees through programs such as Matching Gifts and STAR Awards. Its philanthropic strategy and programs are focused on growing stronger and more resilient communities and building the workforce needed to drive the energy transition forward. Learn more at www.gevernova.com/about/philanthropy.

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.

CAMBRIDGE, Mass. (February 11, 2025) – GE Vernova Inc. (NYSE: GEV) Chief Executive Officer Scott Strazik will present at two upcoming sell-side hosted conferences in Miami, Florida to discuss how the company is a uniquely positioned industry leader, delivering on growing demand and creating value for stakeholders.

Strazik will participate in a fireside chat at the Citi 2025 Global Industrial Tech & Mobility Conference on February 19, 2025, from 8:50 AM - 09:30 AM EST. The following day, February 20, he will participate in another fireside chat at the Barclays 42nd Annual Industrial Select Conference from 08:40 AM - 09:10 AM EST.

Both conference webcasts and replays will be available through GE Vernova’s Investor Relations website at https://www.gevernova.com/investors/events.

Additional information

GE Vernova’s website at https://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.

The wild Baltic Sea has produced its share of historic storms, and in the fall of 2023 it unleashed another titanic surge that pounded Germany’s north coast, causing 200 million euros’ worth of damage. But heavy weather is not enough to deter Germany in its quest to secure low-carbon energy; indeed, the same forces that drove that storm of the century in 2023 can be harnessed to produce electricity.

GE Vernova to provide advanced solar technology for one of the world’s largest self-consumption solar projects

Baghdad, Iraq (February 5, 2025) — In a major boost to Iraq's electricity infrastructure, the Ministry of Electricity (MoE) and GE Vernova Inc. (NYSE: GEV) have announced the successful completion of upgrades at several key power plants, significantly enhancing the performance and output of existing GE Vernova generating units. The new upgrades are part of a broader effort by the Ministry to modernize the power generation infrastructure to enhance grid stability and capacity, while meeting the growing energy demand in Iraq in alignment with the country’s energy transition efforts.

The broader upgrade project regards 46 gas turbines across 12 power plants, on the way to adding up to 500 megawatts (MW) to the national grid before the summer of 2025. This modernization is expected to improve operational flexibility and boost output, efficiency, and availability of the power generation assets. Some of the power plants included in this project - Ninawa, Al Diwaniyah, Hilla, Karbala, Shat Al Basra, Najibiya, Samawa, Dhiqar, Al Khairat and Al Haidariya– already transitioned from heavy fuel oil (HFO) to natural gas, with a capacity increase of approximately 260 MW. The other plants are expected to be modernized within the summer of 2025, with an expected additional increase in capacity of approximately 250 MW.

In addition, GE Vernova announced the successful installation of its Advanced Gas Path (AGP) upgrades on several 9.E gas turbines powering Al-Quds, and Dhiqar power plants, and MXLII upgrades on 13E2 gas turbines powering Al Mansouriya power plant. The expected output increases of up to 6% for each of these power plants will enable Iraq's Ministry of Electricity (MoE) to generate more electricity using the same amount of fuel.

In addition, as part of services and upgrade agreement announced in 2024 with MoE to enhance the availability of power plants across the country, GE Vernova completed comprehensive maintenance projects across several of these power plants corresponding to a total capacity of 3.7 gigawatts, including Qayyarah, Diwaniyah, Al-Haydariyah, and Baghdad South. These initiatives aim to enhance the long-term reliability and stability of Iraq's power sector.

Eng. Ziyad Ali Fadhil, Iraq’s Minister of Electricity, said: “These diverse and comprehensive projects significantly advance our goals of expanding electricity generation and enhancing energy reliability, particularly during peak demand periods. The projects also focus on improving power plant efficiency and increasing output without increased fuel consumption, leading to less carbon emissions per amount of fuel consumed. Collaborating with reputed international companies like GE Vernova is critical to achieving the Ministry's objectives and bolstering the nation's power sector.”

Joseph Anis, President & CEO, Europe, Middle East & Africa, Gas Power at GE Vernova, said: "We are proud of this ongoing collaboration to support the Ministry of Electricity’s strategic objectives of enhancing power generation efficiency across Iraq and accelerating the nation’s energy transition efforts. The timely completion of these projects is integral to GE Vernova's commitment to modernize Iraq's energy infrastructure and support the delivery of more efficient and more sustainable energy solutions.”

In October 2024, GE Vernova announced the early completion and commissioning of five critical 132-kilovolt substations across Iraq. Additionally, a sixth substation, Al Rasafa Center, was successfully energized on November 18, 2024, more than two months ahead of schedule.

In April 2024, GE Vernova also signed a Memorandum of Understanding (MoU) with the Iraqi government in Washington, D.C., during the visit of the Iraqi Prime Minister Mohammed Shia’ Al-Sudani to the United States. The MoU was signed under the patronage and in the presence of Prime Minister Al-Sudani, Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Swad, and Roger Martella, Chief Corporate Officer, Chief Sustainability Officer, and Head of Government Affairs at GE Vernova.

Over the past decade, GE Vernova has significantly contributed to the development of Iraq's energy infrastructure, adding up to 19,000 megawatts of power to the national grid. The company has also constructed 30 substations and completed the first phase of the crucial electricity grid interconnection with Jordan. In addition, GE Vernova has facilitated access to over USD 3 billion in financing for energy projects in Iraq and remains committed to empowering local talent development and workforce training programs.

-ENDS

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, 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.

LONDON, UK (February 4, 2025) - GE Vernova’s nuclear business, GE Hitachi Nuclear Energy (GEH), has signed another series of Memorandum of Understanding (MoUs) with two major UK nuclear engineering firms - Boccard and Cavendish Nuclear.

These MoUs signal GEH’s intent to work more closely with suppliers in the UK, leveraging their industry-leading expertise in the construction and delivery of nuclear power plants in order to advance the development and operation of GEH’s BWRX-300 Small Modular Reactor (SMR) as it continues to progress through Great British Nuclear’s (GBN) ongoing SMR selection competition. This builds on GEH’s previously announced MoU collaborations with Aecon, AtkinsRéalis, Jacobs and Laing O’Rourke.

Andy Champ, GE Hitachi UK Country Lead, said: “These MoUs with Boccard and Cavendish Nuclear strengthen our commitment to working with the UK nuclear supply chain to deliver our BWRX-300 SMR technology in the UK. We are proud to be working alongside these industry-leading companies, demonstrating our dedication to providing the UK with scalable, cost-effective clean energy solutions.

“By combining their expertise with our extensive experience working in partnership with Ontario Power Generation (OPG) on the Darlington project in Canada, we're well positioned to reliably deliver this technology for the best value for money. We look forward to continuing our work with both the supply chain and GBN to make nuclear energy a key enabler of Britain's clean energy future.”

Douglas McQueen, Managing Director, Boccard UK, said: “Boccard UK welcome the announcement regarding to the signing of this MOU with GE Vernova. Our state-of-the-art UK fully digitalised nuclear manufacturing facility in North Wales supported by our engineering and project management teams will bring exceptional levels of quality and value to the Nuclear New Build program. Our Digital Manufacturing controls delivered via our bespoke software “BocTrack ®”, will deliver a faster route to commercial market, not only SMRs, but also GW Generating stations which are pivotal to the UK’s major decarbonising program. We look forward to the ongoing collaboration with GE Vernova at this exiting time in the energy sector.”

Mick Gornall, Cavendish Nuclear Managing Director, said: “Cavendish Nuclear is delighted to continue to deepen our relationship with GEH; building on our current manufacturing studies to underpin credible UK supply chain options for the Reactor Pressure Vessel and other key components.”

The MoU with Cavendish Nuclear, a wholly-owned subsidiary of Babcock International, will build upon work on advanced manufacturing and operational readiness being delivered under the UK Government’s Future Nuclear Enabling Fund while also building on the existing relationship GEH has with Cavendish Nuclear in support of the regulatory approval of the BWRX-300 through the Generic Design Assessment (GDA) process.

GEH and OPG are developing the first BWRX-300 at OPG’s Darlington site near Toronto which is anticipated to be the first commercial SMR in the G7. Early site preparation work has been completed, with construction of the first unit expected to start later this year, pending regulatory approval, and commercial operation expected to commence by the end of 2029. A total of four 300 MW units are planned for the Darlington site.

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 in April 2024, 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.

###

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.

CAMBRIDGE, MA (January 29, 2025) – GE Vernova Inc. (NYSE:GEV), America’s leading energy manufacturing company, is planning to invest nearly $600 million in its U.S. factories and facilities over the next two years to help meet the surging electricity demands around the world.

The new investments – expected to create more than 1,500 new U.S. jobs – will help drive U.S. energy affordability, national security, and competitiveness, and enable the American manufacturing footprint needed to support expanding global exports.

With worldwide energy needs forecasted to double, the substantial investments – the largest since the company’s spinoff in April – will help meet soaring customer demand, strengthen domestic supply chains, and continue developing cutting-edge American technology that helps power the world.

“These investments represent our serious commitment and responsibility as the leading energy manufacturer in the United States to help meet America’s and the world’s accelerating energy demand,” said Scott Strazik, CEO of GE Vernova. “These strategic investments and the jobs they create aim to both help our customers meet the doubling of demand and accelerate American innovation and technology development to boost the country’s energy security and global competitiveness.”

The new investments are the first 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 on December 10. Currently GE Vernova has more than 18,000 workers across 50 states in the U.S., with 18 U.S. manufacturing facilities and its global headquarters located in Massachusetts. The company’s technology helps produce approximately 25 percent of the world’s energy and is currently deployed in more than 140 countries.

Plans to expand gas turbine manufacturing
To support our previously announced plan to deliver up to 80 heavy duty gas turbines per year, resulting in an additional 20GW of electricity globally, GE Vernova intends to invest almost $300 million in support of its Gas Power business and build-out of capacity incremental heavy duty gas turbines. The new funding is projected to create more than 850 new jobs, and support a range of new projects, including: 

• In Greenville, SC, the company is planning to invest more than $160 million to support capacity growth, quality, industrialization and delivery efforts, and new testing capability with hydrogen fuel. These efforts are expected to create more than 650 new jobs.
• In Schenectady, NY, as previously announced, GE Vernova is planning to hire on more than 100 new jobs in 2025, and is investing over $50 million to support capacity growth and sustainability, industrialization and quality efforts.
• GE Vernova is planning to invest nearly $50 million combined in its Parsippany, NJ, and Bangor, ME, locations to support capacity growth and quality, industrialization and delivery efforts.

Plans to expand grid solutions business
GE Vernova is planning to invest a total of nearly $20 million to expand capacity at its Grid Solutions facilities in Charleroi, PA, which manufactures switchgear, and Clearwater, FL, which produces capacitors and instrument transformers. The investment is expected to result in a total of more than 260 new jobs at the two facilities. The investments are critical to meet rising demand for critical high-voltage grid equipment. The majority of the investment is planned for the installation of new assets to create additional capacity and improve productivity.

More resources for nuclear business
GE Vernova’s nuclear business, GE Hitachi, plans to invest more than $50 million to enhance safety, quality and productivity at its Wilmington, NC, factory and to launch its next generation nuclear fuel design, a critical component to the company’s small modular reactor, the BWRX-300. The BWRX-300 reactor is the only advanced design that includes an approved, existing fuel. Expanding capacity of the fuel manufacturing operation further positions the BWRX-300 as the most ready to deploy advanced reactor on the market.

This investment also seeks to expand automation at the plant, which has been manufacturing fuel since 1968 and serves much of the U.S. boiling water reactor fleet, strongly positioning it for the future as the demand for nuclear energy increases globally, particularly as several U.S. utilities restart retired plants.

More capacity for U.S. onshore wind factories
As it continues focusing on its workhorse product strategy, GE Vernova’s Wind segment is planning to invest nearly $100 million in its manufacturing facilities in Pensacola, FL, Schenectady, NY, and Grand Forks, ND, and its remanufacturing facilities in Amarillo, TX. These continuing investments aim to strengthen the U.S. supply chain for renewable energy through factory upgrades and tooling and fixtures investments, while improving customer and employee experience through a new experience center in Pensacola and office renovations in Schenectady.

Adding U.S. manufacturing capacity to support U.S. grid, demand for solar and energy storage
GE Vernova is planning to invest more than $10 million in its Pittsburgh, PA, facility to expand capabilities across its Electrification segment. This includes planned funding to house a new domestic manufacturing line for the company’s FLEXINVERTER, a key technology for utility-scale solar and energy storage applications. The total investment is expected to create more than 270 new jobs, with the new line producing both the 1500V and 2000V FLEXINVERTER. This will help enable utilities to seamlessly connect renewable energy sources to the grid, ensuring stable and consistent energy supply for homes and businesses.

Expanding leading energy innovation research hub
At its Advanced Research Center in Niskayuna, NY, a leading hub for energy technology and innovation, GE Vernova plans to invest almost $100 million in 2025 to strengthen the center’s electrification and carbon efforts, enable continued recruitment of top-tier talent, and push forward innovative technologies including direct air capture, alternative fuels for power generation, the grid of the future, critical infrastructure security and more. In partnership with New York Governor Kathy Hochul and Empire State Development, the State of New York is committing an additional $9.6 million in tax credits to the project. The company expects this investment will create 75 new research jobs. The company is also planning to fund Generative Artificial Intelligence (AI) work in Niskayuna at $15 million in 2025.

These new investments in U.S. facilities follow more than $167 million in funding in 2024 across a range of GE Vernova sites, helping create more than 1,120 jobs to continue U.S. leadership in energy manufacturing for the nation and exports for the world.

To learn more, visit our Investing in Manufacturing page.

###

About GE Vernova
GE Vernova 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.

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’s website 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.

Engine no. 1, Chevron and GE Vernova to power U.S. data centers

CAMBRIDGE, Ontario (January 27, 2025) - GE Vernova’s nuclear business, GE Hitachi Nuclear Energy (GEH), today announced that it has awarded a contract to BWX Technologies, Inc. (BWXT) to manufacture the reactor pressure vessel (RPV) for the first BWRX-300 small modular reactor to be constructed at Ontario Power Generation’s Darlington New Nuclear Project site.

The RPV is the largest component within the BWRX-300. GEH previously awarded a contract to BWXT for RPV-related engineering analysis, design support and manufacturing and procurement preparations. BWXT was the first company to join GEH’s BWRX-300 qualified supplier group.

“The contract to fabricate the reactor pressure vessel for the first BWRX-300 is another key milestone in the deployment of this technology,” said Lisa McBride, Canada Country Leader, GEH. “We are excited to be working with BWXT to move this project forward, while bringing benefits to manufacturing workers in Ontario.”

Early site preparation work at Darlington has been completed with construction of the first unit expected to start later this year, pending regulatory approval, and commercial operations expected to commence by the end of 2029. A total of four units are planned for the site. OPG’s collaboration with GEH signifies a power synergy, merging OPG’s successful legacy in nuclear operations with GEH’s experience in boiling water reactor technology to drive a major energy initiative in Ontario.

The BWRX-300, a 10^th generation design, is a key pillar of GE Vernova’s energy leadership. In addition to helping customers generate reliable electricity, the BWRX-300 is designed to reduce construction and operating costs by leveraging a unique combination of existing, certified nuclear fuel, plant simplifications, proven components and a design based on an NRC-certified reactor. Further, the BWRX-300 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.

###

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.