WILMINGTON, North Carolina (August 21, 2025) – The GE Vernova Hitachi Nuclear Energy (GVH) BWRX-300 small modular reactor (SMR) has been down selected by Vattenfall as it evaluates the construction of new reactors adjacent to its Ringhals plant site on the Värö Peninsula in Sweden.

“We are excited with Vattenfall’s decision, which follows a thorough evaluation process,” said Maví Zingoni, CEO, Power, GE Vernova. “As the only small modular reactor under construction in the Western world, the BWRX-300 is strongly positioned to help Sweden meet its expanding energy needs and net zero ambitions.”

“We have a long history of supporting the nuclear industry in the Nordics and are ready to be a key collaborator in Vattenfall’s new nuclear program,” said Jason Cooper, Advanced Nuclear CEO for GVH. “In addition to being available to deploy in a timeframe that makes a difference for Sweden’s plans, this technology uses licensed fuel and is designed to reduce construction and operating costs.”

Momentum around the BWRX-300 continues to build globally. Construction of the first BWRX-300 is underway at Ontario Power Generation’s (OPG) Darlington site near Toronto. A total of four units are planned for the site. The U.S. Nuclear Regulatory Commission has accepted and is reviewing Tennessee Valley Authority’s (TVA) application to construct the first BWRX-300 in the U.S., at the utility’s Clinch River site in Oak Ridge, Tennessee. OPG, TVA, Duke Energy and Synthos Green Energy in Poland are investing in the standard design of the BWRX-300. These developments support GVH’s progress and leadership in scaling and deploying SMRs commercially to customers around the globe.

Schenectady, NY (August 19, 2025) – With global energy demand at historic levels, today GE Vernova announced a new $41 million investment in its historic Schenectady facility to expand generator capacity by expanding the company’s Center of Excellence for Steam and Generator assembly and testing. This new funding is expected to add 50 new jobs at the facility, helping meet global customer demand. The state of New York’s Excelsior Jobs Program has also awarded GE Vernova $1 million towards completing this project.

“We are committed to meeting the needs of our customers and the world as demand for electricity continues to rise at historic rates,” said CEO Scott Strazik. “This investment in our Schenectady facility continues our work to build gas power capacity and help meet global energy needs.”

“New York State is paving the way for manufacturing, research and development for innovative energy technologies — bringing the State closer to a cleaner future for generations to come,” Governor Kathy Hochul said. “With the State’s public-private partnership with GE Vernova, we’re bringing in good-paying jobs to Upstate New York and promoting sustainability from the tip of Long Island to the Erie Canal.”

The new funding will allow for enhancements to the manufacturing of GE Vernova’s H65 and H84 generators, which accompany the company’s most efficient HA gas turbines.

GE Vernova has a 130-year legacy in New York state, which is home to our Gas Power and Onshore Wind businesses and our Advanced Research Center. This latest investment is in addition to more than $130 million in investments GE Vernova announced in Schenectady since 2023, including a $50 million investment in 2023 to build a new manufacturing line in Schenectady that created more than 200 new jobs and a $80 million investment announced this January for gas power and onshore wind work.

Strazik added, “Our Schenectady facility provides an amazing opportunity to cultivate and invest in our talent in the Capital Region, and we thank the state of New York for their support. We have called this region home for more than a century, and we are proud to continue to move that legacy forward.”

Companywide, this year GE Vernova has announced $720 million in investments at its U.S. manufacturing facilities and 1,800 new U.S. jobs over the next two years. These investments 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.

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.”

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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.