Hanoi, Vietnam (November 14, 2024) – As part of its ongoing efforts to support skills development, the GE Vernova Foundation was joined by Asia Society for Social Improvement and Sustainable Transformation (ASSIST) and Electric Power University in Hanoi today to announce a 750,000 USD investment in the workforce supporting Vietnam’s energy sector.  The RENEW Skills grant which was awarded to ASSIST will create a three-year skilling and upskilling program focused on university and college students and current technicians with the goal of addressing the skilled labor needs across Vietnam’s renewable energy industry.

Within the next decade, one of the greatest challenges for the energy sector will be the increasing demand for workers with technical skills. The energy sector requires more highly skilled workers than other industries and the largest gap emerging in that workforce around the world is in vocational and technical roles. As Vietnam works to meet its 2050 Net Zero commitment, skilled workers and technicians will play a vital role in building a sustainable energy future. And because of that, and in alignment with the Just Energy Transition Partnership agreement announced in 2022, it is important to invest in new training and educational programs and drive awareness of these critical careers as Vietnam implements its Resource Mobilization Plan.

"Skills-based training is essential for driving the energy transition and advancing the technologies of the future," said Ramesh Singaram, Board Director, GE Vernova Foundation and President & CEO, Gas Power Asia, GE Vernova. "We are proud to collaborate with ASSIST on this important initiative in Vietnam. A skilled workforce is fundamental to a nation's economic growth and social progress. Through this program, we are excited to create new opportunities for economically disadvantaged communities, offering pathways to well-paying jobs that promote financial independence and support the well-being of workers, their families, and our world."

The RENEW Skills Development Program will focus on both the current workforce and the future generations of university and technical vocational college students, by providing access to new curricula and practical training focused on wind energy technology operations and maintenance, grid integration, and workplace safety. Five learning labs, including two Centers of Excellence will be established with educational partners and equipped with modern renewable energy technologies training equipment which will serve as hubs for course development, teacher capacity building and student training. The program anticipates reaching over 4,000 students and current technical workers over the next three years. 

“We are honored to partner with the GE Vernova Foundation and Electric Power University to equip current and future workers with the skills needed for the energy transition,” said Aru David, Regional Director, ASSIST. “At ASSIST, we are dedicated to contributing to inclusive skill development initiatives leading to job opportunities in Vietnam and across Asia. The RENEW Skills Program will not only provide hands-on training and access to modern renewable energy technologies but also ensure that these opportunities reach communities that need them most, helping to build a sustainable, inclusive workforce for Vietnam’s green future.”

Assoc. Prof. Dinh Van Chau, President of Electric Power University, stated that "Electric Power University is honored to collaborate with the GE Vernova Foundation and The Asia Society for Social Improvement and Sustainable Transformation (ASSIST) in supporting the energy transition process in Vietnam. The RENEW Skills project provides significant opportunities for students, creating pathways to well-paying employment, particularly within Vietnam's energy sector.

GE Vernova has a long history and strong presence in Vietnam. There are over 1,100 employees in Vietnam who work closely with our customers locally and globally to support the country’s economy. With a robust footprint comprised of manufacturing facilities, repair and service centers, nearly 30% of Vietnam’s electricity needs are met through GE Vernova’s equipment and installed solutions today.

GE Vernova recognizes Vietnam’s unique energy resources and believes that a combination of gas and renewable energy generation is the most effective way to provide reliable energy and reduce carbon emissions. With its expertise in wind power and gas power generation technology, GE Vernova is dedicated to promoting the development of new energy sources and adjustable power solutions, an approach that aligns with Vietnam’s vision of building a new type of energy system that will enable the country to achieve carbon neutrality and create a sustainable, resilient power system for the future.

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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. As the Foundation grows, its philanthropic strategy and programs will focus 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.

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.

About ASSIST
Asia Society for Social Improvement and Sustainable Transformation (ASSIST) is a Pan-Asian non-profit organization founded & operating since 2003 across several Asian countries. We specialize in capacity development initiatives in our key focus areas such as Education & Skills, Health, Agriculture & rural development and Green Economy. ASSIST Vietnam has been implementing social improvement & sustainable transformation projects in Vietnam since 2007. Its goal is to empower its target groups to make them resilient to the social, economic and environmental challenges. To learn more about ASSIST, visit www.assistasia.org.

About Electric Power University (EPU)
EPU is a public university with a multi-level and multi-discipline system, operating under the management of Vietnam Ministry of Industry and Trade (MoIT) and its main function is to provide high quality manpower at different training levels for the power sector to satisfy society’s needs. It is also one of the leading research centers for science and technology within the sector. Apart from retraining and advanced training for technical and management staff members of the power sector, the university also develops and promotes scientific research, international cooperation, transfer and deployment of new technology applications.

Guided by the philosophy of "comprehensive education, strong foundations, and sustainable future," and with the aim of becoming a leading applied university in Vietnam, we have established a comprehensive and autonomous model that integrates international education standards. Our numerous research outcomes have effectively met practical needs and contributed to the industrialization and modernization of our country; aligning with the core values of EPU, which are "Responsibility, Creativity, and Efficiency."

For further information about Electric Power University, please visit https://epu.edu.vn/.

CAMBRIDGE, Mass. (November 14, 2024) – Taking action to help recovery efforts following natural disasters in Asia, Europe, and the United States, today the GE Vernova Foundation announced a total of $500,000 in donations to CARE, Team Rubicon and the Spanish Red Cross. The donations to CARE will support those affected by Typhoon Yagi in Vietnam, the country’s strongest typhoon in three decades, and Storm Boris, which caused extensive flooding in central Europe, with southwestern Poland being one of the hardest hit areas. The collaboration with Team Rubicon will aid families recovering from Hurricane Milton in Florida, which devastated large areas across the state, and the grant to the Spanish Red Cross will help recovery efforts in Spain following severe flooding in the province of Valencia.

“We are proud to work with three impactful organizations in CARE, Team Rubicon, and the Spanish Red Cross who are helping those in need following devastating storms across the globe,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “We have many employees in Vietnam, Poland, Florida, and Spain, and the GE Vernova Foundation will continue to support communities where our employees live and work.”

In Vietnam, CARE is supporting ongoing relief efforts following Typhoon Yagi, with this funding focusing on impacted families in two of the most affected communities of the Cao Bang Province: Phan Thanh and Dinh Phung. They are doing this by providing multi-purpose cash assistance, household kits, and renovation of school facilities. It is anticipated that the GE Vernova Foundation’s $100,000 in funding will support 300 families, or approximately 1,200 individuals in Vietnam. In Poland, CARE will support over 10 local aid distribution centers with much needed coordination and distribution and provide case management assistance to vulnerable populations not able to access aid, including Ukrainian refugees. It is estimated through these efforts the GE Vernova Foundation’s $100,000 in funding will support over 5,000 people.

“We are very grateful to the GE Vernova Foundation for helping CARE provide relief in communities that are bearing the brunt of the extreme weather events that climate change is making increasingly frequent,” said Deepmala Mahla, CARE’s Chief Humanitarian Officer. “CARE focuses on empowering communities through local partnerships, recognizing that local organizations understand the unique challenges and needs of their regions. Our humanitarian responses are culturally relevant and sustainable. This approach not only enhances the effectiveness of aid but also builds local capacity, fostering long-term resilience in vulnerable communities.”

In Florida, Team Rubicon, a veteran-led humanitarian organization that serves global communities before, during and after disasters and crises, will assist communities in some of the hardest hit areas impacting the most vulnerable populations. The $200,000 in funding from the GE Vernova Foundation will support Team Rubicon’s large-scale Greyshirt volunteer response involving removing debris, tarping roofs, clearing roads, and mucking and gutting flooded homes. These often high-cost and labor-intensive services are provided at no cost for survivors in areas most impacted by this storm.

"We are grateful for the support of the GE Vernova Foundation as our Greyshirt volunteers continue to serve those impacted by Hurricane Milton in Florida," said Jeff Byard, Vice President of Operations at Team Rubicon. "This investment in our mission enables Team Rubicon to stay in communities for longer, reaching more disaster survivors in need of assistance."

The Spanish Red Cross mobilized immediately following devastating floods across the hardest hit regions of Spain, including Comunidad Valenciana, Andalucía, Castilla la Mancha and Murcia. They have deployed emergency response teams in high-risk areas, setting up temporary shelters and caring for the most vulnerable, especially the elderly, and are distributing basic aid like food, water, blankets, hygiene kits and providing first aid and psychosocial support. The Spanish Red Cross has also mobilized an emergency childcare team to provide assistance to families in shelters. The GE Vernova Foundation’s $100,000 grant will support the Spanish Red Cross’ continued response to provide immediate needs throughout the impacted region.

“We are deeply grateful for the invaluable support of The GE Vernova Foundation during the DANA emergency,” said Jaime Gregori, Fundraising and Corporate Alliances Director, Spanish Red Cross. “Their generous contribution plays a crucial role in helping us to provide immediate relief and long-term recovery for affected communities. The collaboration of companies is essential for the success of our humanitarian efforts, and together, we can make a lasting impact on those in need."

GE Vernova employees who make eligible donations to Team Rubicon, CARE, the Spanish Red Cross or other participating 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 match.

GE Vernova Foundation’s Disaster and Humanitarian Relief program responds to major global disasters and humanitarian crises, drawing on GE Vernova’s people, technology and other resources to reduce suffering and hasten recovery. Most recently, the GE Vernova Foundation partnered with the American Red Cross to alleviate Hurricane Helene devastation in the Southeastern United States.

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About the 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. As the Foundation grows, its strategic philanthropic strategy and programs will focus 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 Team Rubicon
Team Rubicon is a veteran-led humanitarian organization that serves global communities before, during, and after disasters and crises. Founded following the Haiti earthquake in 2010, the organization has grown to more than 150,000 volunteers across the United States and has launched over 1,100 operations domestically and internationally. To drive equity across disaster and humanitarian services, Team Rubicon focuses on three areas of impact: disaster services- from mitigation to immediate response to recovery; rebuild services- maintaining the fabric of communities through resilient building methods; and international services- providing emergent and surge medical services, WASH, and disaster risk reduction. Visit www.teamrubiconusa.org for more information. 

About CARE
Founded in 1945 with the creation of the CARE Package®, CARE is a leading humanitarian and development organization fighting global poverty. CARE places special focus on working alongside women and girls. Equipped with the proper resources, women and girls have the power to lift whole families and entire communities out of poverty. In 2023, CARE worked in 109 countries, reaching 167 million people through more than 1,600 projects. To learn more, visit www.care.org

About the Spanish Red Cross
The Spanish Red Cross (Cruz Roja Española) is a humanitarian organization dedicated to providing emergency assistance, disaster relief, and health services across Spain. Founded in 1864, it operates as a key part of the International Red Cross and Red Crescent Movement. The Spanish Red Cross focuses on supporting vulnerable populations, including those affected by natural disasters, refugees, and those in need of medical care or social services. Its work encompasses a wide range of programs, from disaster preparedness to social integration and health campaigns, with the goal of improving the lives and well-being of individuals in crisis situations.

“It takes a village to raise a child” is an African proverb that explains how it requires inputs from many different people with many different roles to do the important and challenging job of raising a child. It also takes a village of experts from around the world to design, manufacture, test, ship, and install the thousands of wind turbines that are coming together at what is expected to become the largest wind project in U.S. history — if not the entire Western Hemisphere.