ATLANTA, GA (October 15, 2024) - GE Vernova Inc (NYSE: GEV) today announced the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management released the official findings of the GE Vernova-led front-end engineering design (FEED) study, “Retrofittable Advanced Combined-Cycle Integration for Flexible Decarbonized Generation.”

The study evaluated retrofitting Southern Company subsidiary Alabama Power’s James M. Barry Electric Generating Plant, located in Bucks, Alabama, with technology capable of capturing up to 95% of the plant’s CO₂ emissions. It demonstrated that the integration of GE Vernova’s Exhaust Gas Recirculation (EGR) system could lead to a reduction of more than 6% of the total cost of the carbon capture facility, as compared to installing carbon capture without the EGR system.

The GE Vernova-led study was completed in collaboration with Southern Company, Linde, BASF, and Kiewit, and explored the benefits of close integration between a natural gas combined-cycle (NGCC) plant and a carbon capture system.

GE Vernova’s measures and technologies explored in the study included the use of NGCC steam in the carbon capture system facility, potential gas turbine upgrades, installing NGCC and carbon capture control systems, and employing GE Vernova’s EGR system, which reintroduces part of the exhaust gas back into the gas turbine inlet.

The study’s integrated approach helped reduce the size and costs of the carbon capture system by halving the number of absorber towers, improving the efficiency and flexibility of the plant, and potentially increasing its power output.

“GE Vernova is grateful for the Department of Energy’s support of this study, the first of its kind to explore EGR technology applied in a gas power carbon capture plant” said Jeremee Wetherby, GE Vernova Carbon Solutions Leader. “We developed a holistic approach considering various integration measures building on our long history and expertise in power plant engineering, operation, upgrades and controls. Carbon capture is a crucial pathway to lowering carbon emissions from power generation to near-zero levels, and we are pleased with the benefits projected by the study – which naturally can vary from site to site but represent a valuable indicator of the possibilities at similar sites.”

The study demonstrated that the effects of adding a carbon capture system to an NGCC power plant could be reduced through a series of integration measures, including the EGR system. GE Vernova has developed EGR systems for two decades, initially for nitrogen oxide (NO_x) control and part-load efficiency benefits. In addition to this study, GE Vernova has demonstrated the commercial readiness of F- and H-class combustors operating with EGR at GE Vernova’s test facility in Greenville, South Carolina.

This study recognized the potential of an EGR system to deliver the following benefits as compared to a non-EGR system:

• Large reduction of carbon capture facility footprint and cost of absorber
• Lower operating costs due to reduced amine degradation
• Less energy-intensive separation due to higher concentration of CO₂ in flue gas directed to the carbon capture system
• More steam turbine power output because of lower steam consumption

The collaboration with Southern Company, Linde, BASF, and Kiewit was crucial for the success of this study, which showed that GE Vernova’s integration techniques can help reduce plant capital costs, energy consumption, and operating expenses.

“Southern Company is pleased this desktop engineering study showed that applying carbon capture for natural gas combined-cycle generation may create options and long-term value for customers in a net-zero future,” said Dr. Mark S. Berry, Southern Company Senior Vice President of Research, Environment And Sustainability. “We congratulate GE and the other members of the FEED study team for employing unique technology approaches that could advance the future deployment of carbon capture as a clean energy solution for the customer and communities we serve.”

"As a provider of CO₂ capture technology, we commend DOE's leadership in advancing gas power decarbonization technology towards a clean and reliable energy future. The results of this FEED study underpin Linde’s belief that a collaborative approach between technology providers, end-users, and other stakeholders is essential in driving innovation and cost reduction in CO₂ capture. We are committed to working with DOE and other partners to help decarbonize industry,” said Dominic Cianchetti, Senior Vice President, Region Americas, Linde.

“Kiewit Engineering Group’s participation in the GE Vernova-led study underscores our dedication to advancing innovative solutions for carbon capture technology. By leveraging our engineering and construction expertise, we contributed to the integration of the Exhaust Gas Recirculation (EGR) system, achieving significant cost reductions and efficiency improvements. This study highlights the potential for retrofitting existing power plants to meet stringent carbon emission standards, a vital step towards sustainable energy,” Kevin Needham, President-Power Engineering, Kiewit Engineering Group Inc.

With the goals of improving affordability, reliability, load flexibility, and significantly reducing carbon emissions, GE Vernova’s NGCC and carbon capture integration techniques can be applied across more than 1,600 F-Class gas turbines worldwide, delivering approximately 300 gigawatts (GW) of electricity daily.

###

Notes to editors

© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

Acknowledgment: "This material is based upon work supported by the Department of Energy under Award Number DE-FE0032131."

Disclaimer: "This report was prepared as an account of work sponsored by an agency of the United States Government. Neither the United States Government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency thereof. The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States Government or any agency thereof."

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 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 more than 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 Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

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.

About Southern Company

Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy company with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers’ and communities’ needs while advancing our goal of net zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture and hiring practices have earned the company national awards and recognition from numerous organizations, including Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, Human Rights Campaign and more. To learn more, visit southerncompany.com.

About Linde
Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet. The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde’s industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions. 
For more information about the company and its products and services, please visit www.linde.com

About BASF 
With more than 50 years of experience, BASF offers its customers efficient gas treating solutions for a variety of applications such as natural gas, synthesis gas, and biogas. Worldwide, these solutions have been proven and demonstrated in about 500 reference plants. BASF markets its range of gas treating technologies, the corresponding solvents and complete technical services including the digital platform OASE connect under the brand OASE® – Gas Treating Excellence by BASF. 
For more information please visit: www.oase.basf.com

About Kiewit
Kiewit is one of North America’s largest and most respected construction and engineering organizations. With its roots dating back to 1884, the employee-owned organization operates through a network of subsidiaries in the United States, Canada and Mexico. Kiewit offers construction and engineering services in a variety of markets including transportation; oil, gas and chemical; power; building; water/wastewater; industrial; mining; and marine. Kiewit had 2023 revenues of $17.1 billion and employs 31,100 staff and craft employees.
For more information please visit: www.kiewit.com

Nobody disputes the role that natural gas power plants play in electrifying the planet. A typical plant can reliably generate hundreds of megawatts (MW) of electricity within a few minutes of turbine ignition, keeping the lights on in hundreds of thousands of households.

Dubai, United Arab Emirates (October 10, 2024) — In conjunction with a ceremony held in Dubai, United Arab Emirates, Mass Group Holding (MGH) and GE Vernova Inc. (NYSE: GEV) announced significant progress on the modernization of the 4.5 gigawatts (GW) Besmaya Power Plant in Baghdad, Iraq, the country’s largest power plant. GE Vernova has successfully completed the Phase 1 Advanced Gas Path (AGP) upgrades on four 9F.04 gas turbines and started Phase 2 AGP upgrades on an additional four 9F.04 gas turbines.

During the ceremony, GE Vernova and MGH also announced an eight-year services agreement to support the plant’s Phase 3, which is equipped with four GE Vernova 9F gas turbines. The Phase 3 service agreement was contracted in the second quarter of 2024 and builds on prior operations and maintenance (O&M) and long-term service agreements GE Vernova secured for Phase 1 and Phase 2 of the project.

GE Vernova’s 9F Phase 1 AGP upgrades successfully installed at the Besmaya plant, deliver industry-leading performance and operational flexibility, enhancing efficiency and availability, as well as output by up to 6%, while improving the efficiency of fuel consumption and extending the lifespan of assets. With the completion of Phase 2 expected in the first quarter of 2025, the eight 9F turbines are expected to reduce carbon dioxide (CO₂) emissions by up to 477,000 metric tons annually for the same level of power production.

Ziad Ali Fadhil, Iraqi Minister of Electricity, said: “This modernization project aligns with our strategic goals and represents a significant milestone in Iraq’s energy transition. It enables additional electricity production and improves fuel efficiency, thereby reducing carbon intensity.”

During the ceremony event, Ahmed Ismail Saleh, Chairman of Mass Group Holding, said: “Besmaya power plant, in collaboration with Iraq’s Ministry of Electricity, is crucial in providing electricity to the people of Iraq and various commercial and industrial sectors. We are committed to further enhancing efficiency, flexibility, and sustainability in Iraq’s energy sector. This modernization project is in line with the Iraqi Ministry of Electricity’s strategic plans to provide more reliable and more sustainable electricity, which is essential for the country’s economic development.”

“The upgrades in phase 1 of Besmaya Power Plant marked our first ever “Live Outage” in Iraq, a new digital approach that improves the field execution experience for our teams and our customers,” said Steve Kessinger, Vice President and CEO, GE Vernova’s Gas Power Global Services. “The service work, completed ahead of schedule, has significantly enhanced the efficiency and performance of the plant and we look forward to continuing our collaboration with Mass Group Holding to achieve even greater results.”

“For nearly two decades, GE Vernova has collaborated closely with Mass Group Holding in Iraq, supplying advanced technology to four of the group’s power plants located in Besmaya, Erbil, Sulaymaniyah, and Dohuk. These facilities collectively contribute approximately 9 gigawatts to Iraq’s power generation capacity,” said Joseph Anis, President and CEO of Gas Power at GE Vernova for Europe, the Middle East, and Africa. “GE Vernova has been working in Iraq for more than five decades and remains committed to supporting the transition to lower-carbon solutions for the benefit of the people of Iraq. This also includes modernizing the grid, enabling the digital transformation of power generation and transmission.”

Over the past years, GE Vernova has added up to 19 GW to Iraq’s grid, constructed and energized 30 substations, and completed the first phase of Iraq’s electrical grid connection with Jordan. The company has mobilized over US$3 billion in financing for energy projects and continues to invest in local talent development and workforce training. Working closely with Iraq’s Ministry of Electricity and private sector companies like Mass Group Holding, GE Vernova remains dedicated to advancing the country’s energy sector and supporting economic development.

###

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 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 more than 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. 

GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

About MASS Group Holding
Mass Group Holding, founded in 2006, is one of the leading global companies in the field of electric power production, with a production capacity of 9,000 MW solely in Iraq. Mass Group plays an effective role in meeting the increasing global demand for energy. Its interest has not been limited to the conventional energy sector but has also extended to renewable energy, as it strives to invest in clean resources, believing in the importance of environmental sustainability.

The company's journey did not stop at energy; it went beyond that to include other vital sectors. In Iraq, where its expansion journey began, Mass Group established a cement factory with a massive production capacity estimated at 6 million tons annually, covering a quarter of the country's needs for this essential building material. Additionally, the company added a steel factory to its achievements, with a production capacity of 1.25 million tons annually, enhancing Iraq's ability to meet its industrial needs. Thus, Mass Group reaffirms its strong commitment to contributing to sustainable development in Iraq.

©2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

With net zero deadlines inching closer, the United Kingdom is in a race to ensure it has the capacity to generate enough electricity to keep the lights on throughout the country — while meeting its own legally binding mandates for carbon reductions.

TOKYO, JAPAN (October 8, 2024) — GE Vernova Inc. (NYSE: GEV) today announced an order for three GE Vernova 7HA.03 gas turbines to be installed at The Kansai Electric Power Company, Inc.’s (“Kansai Electric”) Nanko power station in Osaka, Japan. GE Vernova’s advanced 7HA.03 power generation equipment will replace the existing aging conventional LNG power generation assets (consisting of three boilers and three steam turbines) and is expected to increase power plant efficiency, while reducing its carbon dioxide emissions.

Japan has set ambitious targets to achieve net zero by 2050 as per the latest Nationally Determined Contribution (NDC) plans.  As recently described in GE Vernova’s “2024 Japan Energy Outlook” White Paper, the Japan’s energy system is in transition, and the country has targeted  achieving this decarbonization goal through setting up investments in lower carbon generation sources and the support of “Economic Efficiency”, one of the three “S+3E” pillars within the revised national 6th Strategic Energy Plan (including also “Safety plus Energy Security”, and “Environmental Sustainability”).

“The plant is expected to deliver up to 1.8 gigawatts (GW) of electricity to the grid in total and to be the among the most efficient in the country,” said Ramesh Singaram, President and CEO, Asia of GE Vernova’s Gas Power. “In addition, 7HA.03 gas turbine technology currently has the capability to burn up to 50% by volume of hydrogen when blended with natural gas, with a technology pathway to 100% over the next decade. We look forward to bringing this advanced technology to Kansai Electric, with whom we have a longstanding relationship built on years of mutual respect and trust, to help revitalize the Japanese power industry with more efficient and more sustainable technology, in alignment with the country’s energy goals.”

In addition, GE Vernova is also expected to provide field services.

GE Vernova is a key player in Japan’s energy transition, having enabled power generation for Japan for more than 130 years. To date, the company delivers more than 50% of Japan’s heavy duty gas power capacity and supports the country’s growing renewable and nuclear energy needs.

-END-

Notes to Editors
© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

Financial Editors:  Please note this order was booked in the third quarter of 2024.

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 more than 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. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

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, including levels of reduction of carbon dioxide emissions,  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.

GREENVILLE, USA (September 26, 2024) — GE Vernova Inc. (NYSE: GEV) announced today that GE Vernova was selected for award negotiations by the U.S. Department Energy’s (DOE) Hydrogen and Fuel Cell Technologies Office (HFTO) to lead a project aiming to enable permitting and safety for hydrogen deployment. The project has the objective to identify the primary challenges to siting, permitting, and installation across the value chain from hydrogen production through end-use. GE Vernova will lead a diverse project team named “H2Net”, including Clemson University, and Roper Mountain Science Center based in Greenville, SC, USA. GE Vernova will enter award negotiations valued in $1 million in US federal funding with the DOE to finalize the terms and the scope of the project.  

As part of this program, H2Net is expected to develop an AI Assistant that is trained specifically on the relevant, critical documents for safe H2 handling and permitting. The AI Assistant, called HySAGE, Hydrogen Smart Assistant for Governance Execution, will be validated against requirements and lessons learned at GE Vernova’s Gas Turbine Manufacturing and Technology Center in Greenville, SC. HySAGE will aim to enable state-of-the-art modeling capability and flexibility for incorporating all necessary codes and standards and environmental scenarios to increase the versatility and accuracy of the tool.

“These investments in clean hydrogen showcase the Administration’s commitment to making clean energy a win-win for all Americans—by contributing to a sustainable zero-carbon future, while boosting economic opportunities across the country,” said U.S. Secretary of Energy Jennifer M. Granholm. “These projects will work hand in hand with historic investments in the Hydrogen Hubs and electrolysis technologies to accelerate progress towards a clean hydrogen economy that will deliver good-paying, high-quality jobs and accelerate a renaissance of American manufacturing.”

“The success of our regional clean hydrogen hubs—and the national clean hydrogen strategy—hinges in large part on advances in technology that will grow clean hydrogen’s economic potential,” noted Dr. Sunita Satyapal, director of the U.S. Department of Energy’s (DOE’s) Hydrogen and Fuel Cell Technologies Office and coordinator of the DOE Hydrogen Program. “At the same time, we need to ensure that siting and permitting are done in the safest, most efficient way possible as hydrogen infrastructure expands across domestic markets. By identifying ways to address siting and permitting challenges, these projects will complement other large-scale investments in clean hydrogen by the Biden-Harris administration and will play a vital role in contributing to our nation’s clean energy future.”

“We are proud to be a part of the DOE’s commitments to reduce CO₂ emissions and accelerate the progress towards a more sustainable economy with less carbon emissions,” said Jeremee Wetherby Carbon Solutions Leader at GE Vernova. “Our project proposes to reap the benefits from artificial intelligence and explore new and innovative ways to handle hydrogen deployment safely, while investing in trainings for the community and our workforce. We are grateful for the collaboration with Clemson University and Roper Mountain Science Center, which will bring their expertise respectively in the development of AI applications and in K-12 science curriculum and exhibit development.

“We are excited to collaborate with GE Vernova on this DOE project,” said Xiaoyong (Brian) Yuan, Assistant Professor, Holcombe Department of Electrical and Computer Engineering at Clemson University. “Leveraging our expertise in AI and large language models, we will work together to develop innovative solutions that overcome technical and operational barriers to the safe deployment of hydrogen technologies.”

“Roper Mountain is thrilled to share the innovative advancements in hydrogen energy with the next generation of our workforce through hands-on exhibits, curriculum, and instruction,” said Michael Weeks, Director of Roper Mountain Science Center. “This investment will help us to build and to educate a more sustainable future.” 

###

Notes to editors

© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license. 

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 more than 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 Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

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 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.

Disclaimer: "This report was prepared as an account of work sponsored by an agency of the United States Government. Neither the United States Government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency thereof. The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States Government or any agency thereof."

In fall 2021, Arthi Vasudevan, product line leader for cybersecurity at Gas Power at GE Vernova, was working from home in Houston when there was a knock at her door. It was her seven-year-old son, sharing some exciting news. He’d just unlocked a new level on his video game, thanks to the help of a stranger online. Vasudevan hid her alarm. “The moment you start to preach, kids disconnect from you,” she says. “But inside, I was freaking out.”

(formerly a joint venture between Dussur and GE Vernova)

DAMMAM, Saudi Arabia (September 02, 2024) - The Saudi Arabian Industrial Investments Company (“Dussur”) successfully divested its 55% ownership stake in General Electric Saudi Advanced Turbines (“GESAT”) to GE Vernova Inc. (NYSE: GEV), bringing GE Vernova’s ownership to 100% in GESAT.

Since its establishment in 2017, GESAT has played an important role in meeting the Kingdom's demand for gas turbines, specifically through the localized completion of high-performance F-class and H-class gas turbines, and the manufacturing of post cast components and accessory modules.

GESAT is a successful joint venture that is supplying gas turbines and has manufactured more than 200 gas turbine modules to support power generation plants in up to 10 countries around the world, including Saudi Arabia.

In addition to GESAT’s above accomplishments, the company placed a great focus on transferring technological and industrial knowledge through trainings of Saudi cadres on gas turbine assembly and manufacturing processes. The trainings were completed at both GE Vernova’s Greenville site in the United States and the Belfort site in France.

“Dussur’s decision to sell its shares to GE Vernova follows achieving the investment and development objectives of this investment in GESAT, the company has been able to employ and train a number of young national talents; and transfer knowledge in the field of gas turbine  technology,” said Dr. Raed Alrayes, Chief Executive Officer at Dussur.

He also noted that, “Dussur’s investment policy is to enter partnerships that establish transformational industries that the Kingdom needs or support its supply chains. After ensuring the stability and maturity of these industrial capabilities, Dussur exits with the aim of renewing its investments into new industrial opportunities of greater value to the local economy. Today, we are proud of the industrial capabilities that distinguish GESAT and can further grow under the sole ownership of GE Vernova.”

Joseph Anis, President and CEO of GE Vernova’s Gas Power business in Europe, Middle East, and Africa, said, “GE Vernova has been honored to partner with Dussur on GESAT since 2017. We have a strong legacy of almost 90 years of contributions to the development of Saudi Arabia’s energy infrastructure, with up to 580 employees in the Kingdom today. We intend to continue supporting economic diversification, localization, high value exports, and talent development efforts in the country to further the Kingdom’s goals under Saudi Vision 2030. We also remain committed to collaborating with various stakeholders to help accelerate Saudi Arabia’s transition to net zero greenhouse gas emissions by 2060.” 

GE Vernova spun-off from GE (NYSE: GE) and began trading as an independent company on the New York Stock Exchange (NYSE) on April 2, 2024. With approximately 55,000 wind turbines and 7,000 gas turbines, GE Vernova's technology base helps generate approximately 25% of the world's electricity and has a meaningful role to play in the energy transition in Saudi Arabia and around the globe.

###

About the Saudi Arabian Industrial Investments Company (Dussur)
The Saudi Arabian Industrial Investment company, owned by The Saudi Public Investment Fund (“PIF”), Aramco, and Sabic, aims to maximize the developmental impact on the Saudi economy by executing strategic and sustainable industrial investments with world-class technical partners, building modern industrial value chains, and creating more value out of the kingdom’s resources.

Visit us at www.dussur.com, LinkedIn & X: @Dussur; For more information, you may contact us through: info@dussur.com

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.

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.

المشروع السابق المشترك ما بين دسر و جنرال إلكتريك ڤيرنوڤا

الدمام، المملكة العربية السعودية (٢ سبتمبر 2024) اتفقت الشركة العربية السعودية للاستثمارات الصناعية (دسر) على بيع حصتها البالغة 55% في شركة "جنرال إلكتريك السعودية للتوربينات المتطورة" (جيسات) لصالح شريكها في المشروع، شركة جنرال إلكتريك ڤيرنوڤا، المدرجة في بورصة نيويورك بالرمز (GEV).

ومنذ التشغيل التجاري في العام 2017، ساهمت "جيسات" في تلبية طلب المملكة على توربينات الغاز، وذلك من خلال استكمال تصنيع توربينات الغاز عالية الأداء من الفئتين F وH محلياً، وتصنيع مكونات المسار الساخن بعد الصب وملحقات المحرك.

تعد شركة جيسات مشروعاً مشتركاً ناجحاً لتصنيع توربينات الغاز، حيث قامت بتصنيع ما يزيد على 200 ملحق مساند للمحركات لدعم محطات توليد الطاقة في 10 دول حول العالم، بما في ذلك المملكة العربية السعودية.

وبالإضافة إلى الإنجازات المذكورة، ركز المشروع بشكل كبير على نقل المعرفة والخبرات التكنولوجية والصناعية من خلال تدريب الكوادر الوطنية على عمليات تجميع وتصنيع التوربينات الغازية. وقد تم إكمال التدريب في موقع شركة جنرال إلكتريك ڤيرنوڤا في جرينفيل بالولايات المتحدة وموقع بلفور في فرنسا.

وفي هذا السياق، قال الدكتور رائد الريس، الرئيس التنفيذي لشركة دسر: "إن قرار دسر بيع أسهمها لشريكها شركة جنرال إلكتريك فيرنوفا يأتي بعد ان تحققت الأهداف الاستثمارية والتنموية من هذا الاستثمار. فمنذ استثمار دسر في جيسات تمكنت الشركة من توظيف وتدريب عدد من الكفاءات الوطنية الشابة؛ ونقل المعرفة في مجال صناعة التروبينات الغازية". وأضاف: " تتمثل سياسة دسر الاستثمارية في الدخول في الشراكات التي تؤسّس لصناعات تحويلية تحتاجها المملكة أو تدعم سلاسل الامداد الخاصة بها؛ وبعد التأكد من استقرار هذه القدرات الصناعية ونضجها؛ تقوم دسر بالتخارج وذلك بهدف تدوير الاستثمارات في فرص صناعية جديدة ذات قيمة أكبر للاقتصاد المحلي. نحن نفخر اليوم بالقدرات الصناعية التي تميز شركة جيسات والتي تمكنها من النمو بشكل كبير تحت الملكية الكاملة لشركة جنرال إلكتريك فيرنوفا ".

بدوره، قال جوزيف أنيس، الرئيس والمدير التنفيذي لقطاع طاقة الغاز في شركة جنرال إلكتريك ڤيرنوڤا في أوروبا والشرق الأوسط وأفريقيا: "تفخر شركة جنرال إلكتريك ڤيرنوڤا بهذه الشراكة مع دسر والتي أثمرت إطلاق مشروع جيسات في العام 2017. نحن نملك اليوم إرث قوي يمتد لنحو 90 عامًا في تطوير البنية التحتية للطاقة في المملكة العربية السعودية، ونضم فريق عمل محلي مؤلف من 580 موظفًا. ونعتزم عبر استثمارنا الموسع في ’جيسات‘ مواصلة دعم أهداف المملكة في مجالات التنوع الاقتصادي والتوطين والصادرات عالية القيمة، بالإضافة إلى جهود تطوير المواهب انسجاماً مع رؤية السعودية 2030. ونؤكد أيضاً التزامنا بالتعاون مع مختلف أصحاب المصلحة دفعاً لجهود تسريع انتقال المملكة العربية السعودية إلى انبعاثات صفرية من الغازات الدفيئة بحلول العام 2060".

يذكر أن شركة جنرال إلكتريك ڤيرنوڤا قد انبثقت عن شركة جنرال إلكتريك، وبدأت التداول كشركة مستقلة في بورصة نيويورك (NYSE) في 2 أبريل 2024. ومع إنتاجها لما يقارب 55,000 توربين رياح و7,000 توربين غازي، تساعد تقنيات جنرال إلكتريك ڤيرنوڤا في توليد ما يقارب من 25% من الكهرباء حول العالم، ولها دور مهم في تحول قطاع الطاقة في المملكة العربية السعودية والعالم.

-انتهى-

نبذة عن الشركة العربية السعودية للاستثمارات الصناعية "دسر"
تأسست "دسر" بموجب مرسوم ملكي، من قبل ثلاثة من أكبر الكيانات في المملكة وهي: صندوق الاستثمارات العامة، وشركة أرامكو السعودية، والشركة السعودية للصناعات الأساسية "سابك". وتهدف الشركة إلى تعظيم الأثر التنموي على الاقتصاد السعودي من خلال تنفيذ استثمارات صناعية استراتيجية مستدامة، بالشراكة مع رواد الصناعة بهدف توطين سلاسل القيمة في المملكة. وتعتمد دسر نموذجاً استثمارياً مستداماً يساعد على تطوير القطاعات الصناعية الرئيسية وسلاسل القيمة المرتبطة بها في المملكة، لاسيما تطوير الصناعات التحويلية في القطاعات ذات الأهمية الاستراتيجية.

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نبذة عن جنرال إلكتريك ڤيرنوڤا
شركة طاقة عالمية تركز على مختلف تقنيات انتاج ونقل الطاقة الكهربائية، تضم قطاعات الطاقة وطاقة الرياح والكهرباء، مدعومة بما يسمى وحدات "التسريع" الخاصة بها: الأبحاث المتقدمة، الخدمات الاستشارية والخدمات المالية. في ضوء خبرتها الواسعة التي تفوق 130 عاماً في مواجهة التحديات العالمية، تتمتع الشركة بمكانة فريدة للمساهمة في قيادة تحول قطاع الطاقة عبر الاستمرار في إمداد العالم بالكهرباء مع العمل في الوقت ذاته على إزالة الكربون. تساعد الشركة العملاء لاقتصادات الطاقة وتوفير الكهرباء الضرورية لضمان الصحة والسلامة والأمن والارتقاء بجودة الحياة. يقع المقر الرئيسي للشركة في مدينة كامبريدج بولاية ماساتشوستس الأمريكية، حيث تضم حوالي 75 ألف موظف في أكثر من 100 دولة حول العالم.

وانطلاقاً من هدفها وشعارها المتمثل بـ "الطاقة لتغيير العالم"، فإن تقنيات وحلول جنرال إلكتريك ڤيرنوڤا تضمن مستقبلاً للطاقة أفضل لناحية التكلفة المعقولة والموثوقية والاستدامة والأمان. وتهدف أعمال طاقة الغاز التابعة للشركة لتطوير تقنيات وخدمات متقدمة وفعالة باستخدام الغاز الطبيعي، بالإضافة إلى حلول للتخلص من الانبعاثات والمساعدة في مسيرة التحول نحو عالم أقل انبعاثات كربونية. كما تتفرد الشركة بإنتاج توربينات الغاز وتقنيات وخدمات محطات توليد الطاقة بالغاز، وتمتلك أكبر محفظة في العالم بحوالي 7,000 توربين.

تتجلى رسالة جنرال إلكتريك ڤيرنوڤا من خلال اسمها، إذ تحافظ على إرث جنرال إلكتريك العريق الذي يمثل الابتكار والجودة بينما يشير مصطلح "Ver"/ "verde" باللاتينية إلى اللون الأخضر أي الانتقال إلى تقنيات أكثر استدامة، وأما كلمة "nova"، المشتقة من الكلمة اللاتينية "novus"، فهي تدل على عصر جديد ومبتكر للطاقة منخفضة الانبعاثات. وتركز أهداف الشركة على المساعدة في توفير مستقبل مستدام لقطاع الطاقة وبحلول موثوقة وبأسعار معقولة، ويتلخص ذلك في شعارها "الطاقة لتغيير العالم". لمعرفة المزيد، الرجاء زيارة صفحة الشركة GE Vernovaولينكد إن.

للمزيد من المعلومات الرجاء الاتصال بـ:

عبير مسعود

مديرة الاتصال المؤسسي لمنطقة الشرق الأوسط وأفريقيا في شركة جنرال إلكتريك ڤيرنوڤا

abeer.masood@ge.com

JAKARTA, INDONESIA (August 30, 2024) – On the heels of GE Vernova’s 100^th HA gas turbine commissioned globally announcement,  GE Vernova Inc. (NYSE: GEV) celebrated today the start of commercial operation of PLN Indonesia Power (PLNIP)’s 780-megawatt (MW) Tambak Lorok Combined Cycle Power Plant Block 3 (“Tambak Lorok”), in Tanjung Mas, Central Java. With the highest energy consumption among the Southeast Asian Nations, Indonesia’s energy use is set to rise significantly as its economy and population grow. Powered by GE Vernova’s HA combined cycle equipment, the plant can deliver the electricity needed to power the equivalent of approximately 5 million homes in Indonesia.

To support Indonesia’s climate and energy transition agenda, the government of Indonesia has pledged to stop commissioning new coal power plant and to achieve net-zero emissions by 2060 or earlier, Indonesia is targeting to retire the entire fleet of coal plants by 2040*.

“Tambak Lorok project represents a milestone for Indonesia, adding to the system a large-capacity plant that brings stability to the country's electricity matrix,” said Edwin Nugraha Putra, CEO of PLN Indonesia Power. “Tambak Lorok is in line with the national energy policy to lower emissions from the power sector. As more coal fired plants are retired, the need to add more reliable and flexible power that provides greater grid stability is essential. We trust GE Vernova, Marubeni Corporation and Hutama Karya, as the EPC, have delivered the highest standard of quality and safety in building this power plant that will provide reliable and more sustainable electricity to the Java grid.”

Tambak Lorok is powered by GE Vernova’s advanced equipment, namely a 9HA.02 gas turbine, a STF-D650 steam turbine, GE Vernova’s Once Through (OT) HRSG and balance of plant equipment. In addition to the core power plant equipment delivered in a turnkey combined cycle configuration, GE Vernova is contracted to provide a holistic solution including a 15-year service agreement to manage all aspects of the project’s lifecycle, training and maintenance management to enhance operational performance and increase the reliability of Tambak Lorok plant. The training will support skills development and knowledge transfer to improve the capability of PLN IP’s operations team.

“Our HA technology has been selected to increase power generation capacity in Indonesia and support its decarbonization process,” said Ramesh Singaram, President and CEO, Asia of GE Vernova's Gas Power. “In our commitment to support Indonesia’s power development and economic growth, our HA technology offers the lowest emissions in the industry to give our customers, like PLN Indonesia Power, the ability to reduce fuel consumption while lowering carbon emissions, moving forward this technology will help transition to net-zero carbon emissions.”

With GE Vernova’s H-class leading technology the plant has a lower emissions impact with up to 60% less emissions compared to other plants of the same size powered by diesel, coal and other fossil fuels. In addition, to further advance decarbonization utilizing gas power, H-Class gas turbine portfolio currently has the capability to burn up to 50% by volume of hydrogen when blended with natural gas with an expected roadmap to 100% in the future.

###

Notes to editors

* Irena Energy Transition Outlook 

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GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

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 more than 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 Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

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 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.