CAMBRIDGE, Mass. (September 11, 2024) – GE Vernova Inc. (NYSE: GEV) today announced the launch of its new 6 MVA, 2000-volt direct current utility-scale inverter, with a multi-megawatt pilot installation in North America. This initiative is aimed at further reducing solar energy costs and accelerating the transition to renewable energy and decarbonization.

A History of Innovation in Solar Inverters
In 2012, GE Vernova was the first to introduce the 1500 Vdc inverter to the market, helping customers reduce the cost of renewable energy through more efficient solar farm layouts. Now, with the 2000 Vdc architecture, the company is once again leading the way by further reducing the levelized cost of energy (LCoE) for solar PV installations. The inverter can boost power output by 30% within the same footprint, reducing costs and improving scalability for solar farms.

“At GE Vernova, we are driving the next generation of utility-scale solar solutions,” said Ed Torres, Business Leader, GE Vernova Solar & Storage Solutions business. “Inverters are critical to increasing solar capacity and ensuring efficient energy conversion. Our latest innovations will help solar farms maximize output and reliability, playing a key role in meeting growing energy demands and advancing renewable energy adoption.”

Solar inverters are key components of photovoltaic (PV) plants. The technology converts DC power produced by solar panels to AC power, which is then fed into the main grid. The FLEXINVERTER 2000 Vdc (also known as FLEXINVERTER 2 kVdc) is the latest addition to GE Vernova’s FLEXINVERTER portfolio.

Collaborating for a Renewable Future
GE Vernova’s FLEXINVERTER 2000 Vdc is set to debut in a multi-megawatt solar park as a pilot installation in North America, expected to be operational by Q1 2025. The company is collaborating with Shoals Technologies Group™ and an industry PV module supplier on this project. GE Vernova will provide the 2000 Vdc inverter for the solar park, while Shoals Technologies will supply the electrical balance of system solutions. The other collaborating supplier will provide the PV modules.

“We’re thrilled to be part of this collaboration with other solar innovation leaders,” said Jeff Tolnar, President of Shoals Technologies Group. “We believe this effort moves the market towards an even lower cost of solar deployments which we anticipate will spur adoption and further advance solar as the most economical alternative to fossil fuels.”

###

Notes to Editors:

More details about GE Vernova’s FLEXINVERTER 2000 Vdc can be found here.

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 address GE Vernova's expected future business and financial performance, 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 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 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 Solar & Storage Solutions business provides technologies in solar energy, battery energy storage, and power plant controls to drive dispatchable and reliable renewable energy solutions and to help with the transition to a cleaner energy future.

About Shoals Technologies
Shoals Technologies Group is a leading provider of electrical balance of systems (“EBOS”) solutions for the energy transition market. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability. Shoals Technologies Group is a recognized leader in the renewable energy industry. For additional information, please visit: https://www.shoals.com.

CAMBRIDGE, Mass. (September 10, 2024) – GE Vernova Inc. (NYSE: GEV) today announced the launch of its advanced containerized solution for Battery Enabled Energy Storage (BESS) - the RESTORE DC Block - which offers enhanced safety, efficiency, flexibility, and long-term performance. With a capacity of 5MWh and enhanced duration range of 2-8 hours, the solution offers the ability to support multiple grid use cases for utility-scale renewable and energy storage projects.

RESTORE DC Block is a core component of GE Vernova’s FLEXRESERVOIR solution - an integrated system combining battery storage, power electronics, and advanced controls - that is designed to support seamless integration of renewable energy sources like solar and wind. By storing surplus energy during periods of high generation and releasing it when demand peaks, it ensures a more reliable and efficient grid.

“Our new RESTORE DC Block is engineered not only to meet the stringent technical requirements of modern grids but also to prioritize safety, quality, delivery, and cost,” said Ed Torres, Business Leader, GE Vernova’s Solar & Storage Solutions business. “This solution demonstrates our ongoing commitment to driving the energy transition by offering flexible, high-performance storage solutions that enhance renewable energy integration while driving down the Levelized Cost of Storage (LCOS).”

Key features of the RESTORE DC Block include:

Safety First: Equipped with comprehensive fire protection systems, the RESTORE DC Block ensures a high standard of safety. The system is designed to mitigate potential hazards while offering defense against cyber threats, ensuring more secure and reliable operations in all environments.

Advanced Digital Technology: Integrated intelligent thermal management and high-speed edge analytics provide precise monitoring of the system’s state-of-charge, state-of-health, and state-of-safety, enhancing operational efficiency and reliability. The system also features zero-touch commissioning for quick, hassle-free deployment.

Performance and Longevity: Powered by liquid-cooled LFP (Lithium Iron Phosphate) cells, the RESTORE DC Block delivers an industry-leading 93%+ round-trip efficiency (RTE), is capable of executing multiple back-to-back cycles, and is designed to offer consistent performance over a 25-year life. It operates reliably in a broad range of temperatures from -30°C to 50°C, making it suitable for diverse climates and geographies.

Flexible Installation & Augmentation: The system is designed for versatility, supporting back-to-back and side-to-side configurations to optimize space. It also features both AC and DC augmentation options, allowing for customized scalability with a usage-based capacity guarantee.

The RESTORE DC Block can empower utility companies, renewable energy developers, and grid operators by delivering greater grid resilience, reducing energy costs, and optimizing renewable energy integration, thereby accelerating the transition to a dispatchable clean energy future.

For more information about the RESTORE DC Block and how it can support energy needs, visit our website

-ENDS-

Notes to Editors:

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 address GE Vernova's expected future business and financial performance, 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 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 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 Solar & Storage Solutions business provides technologies in solar energy, battery energy storage, and power plant controls to drive dispatchable and reliable renewable energy solutions and to help with the transition to a cleaner energy future.

Waukesha, WI – September 3, 2024 – Prolec-GE Waukesha, Inc., a business unit of global energy infrastructure leader Prolec GE, today announced its acquisition of the remaining equity stake in Menk USA LLC, a leading North American manufacturer of cooling radiators for power grid transformers. 
Having been a partial owner of the company since 2002, Prolec GE Waukesha has now acquired complete ownership of Menk USA from Germany-based Menk-Schmehmann Group, one of the world’s leading specialists for complex tube forming, welded assemblies and steel structures for mobile cranes. This acquisition will allow Menk USA to become fully integrated into Prolec GE’s components portfolio, bolstering the company's supply chain resiliency and enhancing its strategic capabilities.​

​Prolec GE has enjoyed a successful relationship with Menk USA since 2002, with Menk being a high quality, reliable supplier. The decision to acquire full ownership aligns with Prolec GE's strategic vision 
to secure critical supply chains and collaborate with customers and suppliers to strengthen the U.S. market’s availability of key transformer components.​ Menk-Schmehmann Group’s shareholders expressed gratitude for the Menk USA team’s achievements over the last 20 years and excitement for what this acquisition means for the company and its employees.

​Ricardo Suarez, CEO of Prolec GE, stated, “This acquisition marks another milestone in our evolution. Menk USA ​has been a valuable ally, and now, as a fully integrated entity, we are excited to leverage our combined strengths to drive innovation and deliver enhanced value to our customers. We are confident that this strategic move will further solidify our position as industry leaders and generate new business opportunities for our company.”​

​Chip Donahue, CEO of Menk USA, commented, “We have had a productive and successful relationship with Prolec GE for over 20 years. Now, by integrating into the Prolec GE business, Menk USA is in an optimal position to better serve our existing customers while exploring new opportunities for expansion and development. We look forward to continuing our mission of providing the highest quality radiators in the market under the guidance and resources of Prolec GE.”

About Prolec GE​

Prolec GE is a joint venture between Xignux and GE Vernova, internationally recognized for quality manufacturing and reliable performance for over 25 years. The company is an electric industry leader 
in the Americas with eight manufacturing facilities strategically located in Mexico, the United States, and Brazil and an installed product base in over 35 countries. Its broad power transformer services offering 
in the U.S., as well as its wide variety of high voltage transformer components, complement Prolec GE’s full line of transformer solutions for the generation, transmission, and distribution of electrical energy for utilities, co-ops, municipalities, renewable project developers, data centers and original equipment manufacturers. ​

​As a leading supplier in the industry, Prolec GE embraces its commitment to providing an exceptional customer experience, superior quality products, comprehensive solutions and on-time deliveries while actively developing innovative, responsible, and sustainable solutions to solve the industry’s challenges. To learn more, visit www.prolec.energy/prolecge or follow us on LinkedIn.​

​
About Xignux 

Xignux is a leader in the energy and food industries. Based in Monterrey, Mexico, we manage a variety of companies that energize life and society to contribute to a better world, thanks to the hard work and talent of more than 30,000 employees in Mexico, the United States, and Brazil.​

​In the energy industry, Viakable offers electrical conductors, and Prolec specializes in energy transformation and delivery. In the food sector, Qualtia provides a wide portfolio of cheeses, cold cuts, meats, and food service, while BYDSA produces savory snacks. Through its Social Responsibility model and the Xignux Foundation, the company also contributes to society´s sustainable development with active participation in four priority areas: energy, nutrition, education, and community development.​

​Xignux was founded 68 years ago and the solutions from its companies reach over 35 countries. Learn more about us at www.xignux.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.

About Menk-Schmehmann Group

Menk-Schmehmann Group: Over 75 years of innovation and precision in metalworking

The Menk-Schmehmann Group, consisting alongside Menk, of the companies Schmehmann and Schäfer-Menk, has stood for outstanding expertise and innovative solutions in metal processing for over seven decades. With deep-rooted expertise and state-of-the-art machinery, the group has established itself as one of the leading specialists for complex tube forming, welded assemblies and steel structures for mobile cranes.

Schmehmann: Tradition meets high-tech in Bad Marienberg

For over 75 years, Schmehmann (www.menk-schmehmann.de), based in Bad Marienberg Germany, has been a reliable partner for the most demanding projects in pipe forming and welding technology. The company's strength lies in its proven blend of decades of experience and state-of-the-art technology. 
This approach enables Schmehmann to meet even the most complex requirements of its customers and to realize projects with the highest precision and quality.

Schäfer-Menk: Premium solutions for mobile cranes and construction machinery

Schäfer-Menk (www.schmenk.cz), based in Czech Republic, is the premium partner for the manufacture of steel structures for mobile cranes, construction machinery and handling equipment. The company is characterized by its proactive and innovative approach, which enables it to always deliver the best solutions for its customers. Schäfer-Menk's key competencies include innovation and industrialization 
in the field of welding. A lean organizational structure ensures a continuous increase in productivity 
and efficiency.

Paris, FRANCE – August 29, 2024 – GE Vernova announced today that its Grid Solutions business will manufacture, deliver and commission the world’s first 245 kilovolt (kV) SF₆-free gas-insulated substation (GIS) for RTE in France. Grid Solutions will deploy its advanced B105 SF₆-free GIS, a solution that will support RTE in replacing sulfur hexafluoride, SF₆—a gas with a global warming potential 24,300 times greater than CO₂—with its g³ alternative. g³ allows for about 99% reduction in CO₂ equivalent of the gas contribution to global warming compared to SF₆.

This pilot project is part of RTE's objective to reduce the carbon footprint of transmission infrastructure by using alternatives to SF₆, while enabling energy transition by connecting low carbon energy. One 245 kV SF₆-free B105 GIS will prevent the addition of approximately 20,000 tons of CO₂ equivalent to its high-voltage grid. The gas-insulated substation will also include Grid Solutions’ SF₆-free F35g 145 kV, which already benefits from six years of return on experience.

Developed by GE Vernova’s Grid Solutions business, the 245 kV B105 Dual Gas GIS is co-funded by the EU’s LIFE Program, the European Union’s funding instrument for the environment and climate action. The 245 kV B105 Dual Gas GIS is a result of Grid Solutions’ research funded by the LIFE21 project named LIFE SF₆-free GIS. This three-and-a-half-year research project aimed to develop a 245 kV substation that is SF₆-free and compatible with both SF₆ and g³ gas. The substation can support networks up to 245 kV for onshore and offshore power generation and transmission, as well as energy-intensive industry applications.

GE Vernova’s Grid Solutions business launched the B105g GIS as part of its new GRiDEA decarbonization product portfolio launched at the CIGRE 2024 conference at the Palais des Congrès in Paris. Its g³ technology serves as an alternative to sulfur hexafluoride (SF₆), an insulating and switching gas that has been the industry standard used for decades in high-voltage substation equipment. Identified as a very potent greenhouse gas by the 1997 Kyoto Protocol, SF₆ contributes 24,300 times more emissions than CO₂ if leaked and can remain in the atmosphere for up to 1,000 years.

Commenting on the ground-breaking development, Khalid Abdallaoui, Executive Director in Charge of Asset Management and Investment Program at RTE, said, “The needs of the French electricity network are significant in the coming years. The decarbonization challenges are substantial and RTE is working with all manufacturers to promote and implement technologies that will make it possible to achieve Net Zero by 2050. In 2023 we anticipated the availability of a 245 kV SF₆-free GIS in the near future. Today, we are keen to be the ones that might install the world’s-first 245 kV SF₆-free substation, the B105g GIS, on our high voltage grid.” 

“RTE’s 245-kV SF₆-free GIS substation project is proof of the market’s acceptance of our SF₆-free technology as a game-changing alternative,” said Vera Silva, CTO of GE Vernova Electrification. “With the launch of our B105g GIS, we are only one step away from completing our SF₆-free GIS range allowing transmission system operators in Europe and elsewhere to significantly reduce the carbon footprint of their substations by replacing SF₆ with g³ gas mixture as soon as they feel ready to proceed. The SF₆-free GIS range up to 420 kV is expected to be completed in 2026 with the 170 kV F35 Dual Gas GIS,” she added.

GE Vernova’s Grid Solutions business’s g³ products feature the same high performance and reliability as SF₆ equipment but with a significantly reduced impact on global warming over their lifetime. According to life-cycle assessments (LCAs), based on international ISO 14040/14044 standards, they deliver a lower carbon footprint over a 40-year substation life cycle compared to the use of SF₆ products. This reduced impact is achieved due to a reduction of about 99% of the gas contribution to global warming compared to SF₆. Additionally, because these SF₆-free switchgear have the same compact dimensions as SF₆ equipment, they are designed to require no increase in emissions during the manufacturing process due to additional raw materials.

The 245 kV B105 Dual Gas substation project is one of several substation projects by RTE implementing SF₆-free products (from 145 kV to 400 kV). Over the past years, after the successful implementation of its Grimaud substation, the French transmission system operator has ordered the construction of multiple F35g 145 kV g³-gas insulated substations, T155g 420 kV GIS, and GL312g 145 kV live tank circuit-breakers for its air-insulated substations.

Both development and manufacturing of these SF₆-free products will take place in France.

To learn more about GE Vernova’s Grid Solutions business’s high-voltage SF₆-free substation equipment, visit its website.

-ENDS-

Notes to Editors:

Complete portfolio of GRiDEA can be found here.

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 address GE Vernova's expected future business and financial performance, 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 business operations, financial results and financial position and on the global supply chain and world economy.

About RTE

The French electricity-transmission-system operator, RTE, provides a public service: guaranteeing a constant supply of electricity throughout France, with the same standard of service, thanks to the efforts of its 9,500-strong staff. RTE manages electricity flows, balancing production and consumption in real time. RTE maintains and develops the high and extra-high voltage grid (from 63,000 to 400,000 volts) which includes nearly 100,000 kilometres of overhead lines, 7,000 kilometres of underground lines, 2,900 operational, some jointly operated, substations, and around fifty cross-border lines. With 37 interconnections, the French grid is the most extensive in Europe. RTE is an independent and neutral industrial operator which optimises and transforms its grid to connect electricity-production facilities for any future energy choices. Through expertise and reporting, RTE informs the decisions made by the public authorities.

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 Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

Media Contact – GE Vernova

Anshul Madaan

GE Vernova

Media Relations

Anshul.madaan@ge.com       

+91 8377880468

Media Contact – RTE

rte-presse@rte-france.com  

More information: www.rte-france.com 

Paris, France (Aug 28, 2024) – GE Vernova Inc. (NYSE:GEV) today announced the launch of its latest innovation, FACTSFLEX GFMe, an advanced Flexible Alternating Current Transmission System (FACTS) solution aimed at strengthening power grids and facilitating the increased use of renewable energy sources.

FACTSFLEX GFMe combines GE Vernova’s STATCOM technology with advanced supercapacitors to stabilize the grid more effectively by enabling active power via energy storage. This combination allows rapid response to grid disturbances on the grid, which is especially important in areas with weaker infrastructure or high levels of renewable energy. By improving grid stability, FACTSFLEX GFMe supports the reliable operation of power systems and helps drive the global shift toward cleaner energy. The solution is now available globally.

“Our grid is undergoing its most significant transformation in over a century, driven by the rise of renewable energy sources like solar and wind,” said Johan Bindele, Leader of Grid Systems Integration business at GE Vernova. “This transformation brings new challenges, particularly the intermittent nature of renewables, which can lead to voltage fluctuations and grid instability. With FACTSFLEX GFMe, we are introducing a solution that leverages supercapacitor technology alongside our STATCOM systems to re-create the inertia which is being lost through the retirement of traditional thermal power generation, ensuring stable and reliable grid operations as we transition to a cleaner energy future.”

How FACTSFLEX GFMe works?

Beyond its reactive power compensation capabilities, FACTSFLEX GFMe employs supercapacitor-based energy storage to emulate inertia by injecting or absorbing active power. This allows grid operators more advanced options to automatically and instantly support the stability of the grid. The system is based on a double star configuration, enabling high voltage energy storage integration. This modular and scalable solution is adaptable to meet the varied needs of different projects.

FACTSFLEX GFMe offers superior voltage and active power performance compared to battery-based options. Active power is scalable, with a typical rating of 150 MW for several seconds. Reactive power capabilities can be tailored to customer requirements, with continuous ratings of typically around 300 Mvar.

In addition to FACTSFLEX GFMe, GE Vernova’s STATCOM portfolio, recently rebranded FACTSFLEX STATCOM, also includes

FACTSFLEX Classic, GE Vernova’s original STATCOM solution with an extensive and proven install base

and FACTSFLEX GFM, a grid-forming STATCOM that provides instantaneous natural reactive power injection for grid disturbances for advanced grid stability.

-ENDS-

Notes to Editors:

Complete portfolio of FACTSFLEX can be found here.

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 address GE Vernova's expected future business and financial performance, 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 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 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 Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

PARIS, France (Aug 27, 2024) – GE Vernova and Systems With Intelligence (SWI) signed a memorandum of understanding (MoU) today at the CIGRE event in Paris to develop advanced substation monitoring solutions. Through this collaboration the companies aim to integrate technologies like gas sensing, bushing monitoring and infrared thermography, along with AI and ML. The goal is to advance grid asset management by integrating SWI's cutting-edge infrared thermography and touchless monitoring systems with GE Vernova’s Grid Automation business's expertise in monitoring & diagnostic solutions of grid assets.

The initial focus of this collaboration will be on substation monitoring, where the companies will integrate their leading technologies to deliver converged monitoring and diagnostic intelligence, significantly enhancing asset management capabilities. This could streamline monitoring for utilities and Transmission System Operators (TSO’s), enabling earlier issue detection and leading to a more reliable, efficient, and stable power grid.

"Today’s asset managers are flooded with data from a myriad of sensing devices provided by various vendors. This often leads to fragmented data silos, requiring multiple software tools to manage and analyze the data independently," said Graham McGuigan, Product Line Leader for Monitoring & Diagnostics at GE Vernova. "Our collaboration with SWI is a step towards unifying these data streams into a more cohesive and intelligent monitoring system."

Angelo Rizzo, President and CEO of SWI, added, "By combining different sensing techniques, we can create solutions that offer enhanced diagnostic intelligence while simplifying the user experience. This collaboration is a significant move towards achieving that goal."

The first tangible outcome of this collaboration will be the integration of SWI’s fixed infrared sensors into GE Vernova’s DGA 900 Plus, a state-of-the-art multi-gas transformer monitoring system that monitors the health of power transformers by detecting early signs of problems and helps prevent transformer failures, ensuring a reliable and efficient power supply. This enhanced new solution, expected to be commercially available in early 2025, will allow asset managers to incorporate infrared thermography directly within the DGA 900 Plus platform, which already includes capabilities for dissolved gas analysis, bushing monitoring, and predictive modeling.

Looking ahead, GE Vernova and SWI plan to expand their collaboration to include the integration of SWI’s pan/tilt substation-level infrared sensors within GridBeats^TM Asset Vision substation monitoring solution, further advancing the capabilities of electrical grid asset management. GridBeats^TM is GE Vernova’s Grid Automation business’s portfolio of software defined automation solutions for grid digitalization.

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 address GE Vernova's expected future business and financial performance, 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 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 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 Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

About Systems With Intelligence
Systems With Intelligence Inc. is a global provider of Touchless™ monitoring solutions for electric utility applications. SWI systems collect and analyze the data that allows utilities to increase safety and reliability while reducing operating costs. Coupling thermal monitoring and visual imaging technology with advanced analytic algorithms, Systems With Intelligence solutions automate remote site monitoring.

Systems With Intelligence products are engineered to operate in the harshest environments and withstand high levels of electromagnetic interference, static discharge, and voltage surges found in industrial applications to ensure uninterrupted operation. Providing a monitoring system that operates reliably and connects seamlessly allows customers to remain focused on their operations.

The Systems With Intelligence management and technical teams are comprised of professionals with extensive experience in advanced technology for mission-critical applications in harsh environments. With domain expertise in substation and industrial automation, communications, and utility operations, the team is uniquely positioned to deliver effective and intelligent monitoring solutions.

For more information, visit the company's official website at www.SystemsWithIntelligence.com.

Paris, France (Aug 26, 2024) – GE Vernova (NYSE:GEV) today announced the launch of Grid Solutions’ GRiDEA portfolio, a comprehensive suite of  innovative solutions aimed at decarbonizing the electrical grid and supporting the transition to a more sustainable energy future. The new portfolio was unveiled at CIGRE in Paris, the world’s leading power systems event, where GE Vernova is showcasing its advanced electrification technology.

A Decarbonization Milestone

GRiDEA offers grid operators a range of solutions to reduce SF₆ emissions and raw material usage, contributing to the global decarbonization effort.

At the core of the GRiDEA portfolio are high-voltage SF₆-free products, including g³, one of the company’s alternative technologies to SF₆, allowing for a 99% CO₂ equivalent reduction of the gas contribution to global warming compared to traditional SF₆ equipment. Grid Solutions offers a wide range of SF₆-free switchgear up to 420 kV.

In addition, the GRiDEA portfolio has been enhanced with another gaseous SF₆-free technology for live tank circuit breakers, which allows the switchgear to operate in extremely low temperature environments.

A Commitment to Sustainable Practices

GE Vernova is committed to minimizing the environmental impact of its products throughout their entire lifecycle. Grid Solutions’ GRiDEA portfolio will include solutions that:

• Feature less raw materials thanks to the use of recycled materials like copper, aluminum and oil, as well as the replacement of copper wiring with fiber optics.
• Extend equipment lifespan through advanced monitoring systems and control switching devices, along with retrofit and modernization services to enhance long-term sustainability.
• Optimize the design and efficiency of transmission and distribution infrastructure, focusing on smaller, lighter, and more efficient products.

Philippe Piron, CEO of GE Vernova’s Electrification Systems business, emphasized the significance of this launch, saying, “The GRiDEA portfolio is more than just a suite of products; it’s proof of our commitment to driving the energy transition forward. By providing grid operators with solutions that not only reduce emissions but also improve efficiency, we’re enabling a future where electrification and sustainability go hand in hand.”

Eric Chaussin, GE Vernova’s Power Transmission business leader, added: “As the global grid evolves, it’s crucial that we equip our customers with solutions that are both innovative and adaptable. GRiDEA represents our dedication to delivering technology that meets the immediate needs of today while anticipating the challenges of tomorrow. This portfolio is designed to support our customers in their efforts to build a more resilient, low-carbon grid.”

Trusted Innovation for an Electric Future

The electrical grid is undergoing significant transformation, driven by the need to electrify while reducing carbon emissions. GE Vernova understands the importance of this shift and is committed to supporting it through the GRiDEA portfolio. This range of products and solutions is designed not only to meet current needs but also to anticipate future industry and environmental challenges.

With the launch of GRiDEA at CIGRE, GE Vernova is setting a new standard for grid transmission infrastructure, digitalization and sustainability. The portfolio reflects the company’s commitment to innovation and carbon reduction, providing grid operators with the equipment they need to contribute to a more sustainable energy future.

-ENDS-

Notes to Editors:

Complete portfolio of GRiDEA can be found here.

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 address GE Vernova's expected future business and financial performance, 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 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 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 Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

Bernard Dagher, who heads up growth and strategy for the Middle East and Africa (MEA) at GE Vernova’s Grid Solutions business, often reminds people why there are almost no landlines in Africa. As the story goes, cell phones arrived on the vast continent before it had strung up the thousands of miles of telephone wires needed for landlines.

• Net-Zero Teesside (NZT) Power is expected to be one of the first gas-fired power stations of its kind - fully integrated with carbon capture technology.
• Consortium and technology selection marks an important next step towards the proposed development of bp’s NZT Power project in the UK, aiming to capture up to 2 million tonnes of CO2 per year.
• Project is expected to provide flexible, dispatchable low-carbon power equivalent to the average electricity requirements of around 1.3 million UK homes, and to progress the deployment of carbon capture technology in line with the UK Government’s net-zero programme.

Technip Energies (PARIS: TE), leader of a consortium with GE Vernova, and construction partner, Balfour Beatty, received a Letter of Intent from bp, on behalf of NZT Power Limited for the execution phase of the Net Zero Teesside Power (NZT Power) in the United Kingdom.

This landmark project is poised to become one of the world’s first commercial scale gas-fired power stations with carbon capture, expected to capture up to 2 million tonnes of CO2 per year. The project is set to provide flexible, dispatchable low-carbon power equivalent to the average electricity requirements of around 1.3 million UK homes, further supporting the nation's transition to a cleaner energy future.

The NZT Power project is also a key component of the Carbon Capture, Usage and Storage (CCUS) East Coast Cluster and has been shortlisted for government funding support as part of the UK's net-zero programme. This selection follows the Development Consent Order recently having been granted by the Secretary of State for the Department for Energy Security and Net Zero.

The Technip Energies and GE Vernova consortium, supported by leading infrastructure group Balfour Beatty, will play an important role constructing a highly efficient combined cycle plant. It will be powered by an advanced GE Vernova 9HA.02 gas turbine, a steam turbine, a generator and a Heat Recovery Steam Generator (HRSG), which will integrate with a state-of-the-art carbon capture plant using Technip Energies’ Canopy by T.ENTM solution powered by the Shell CANSOLV® CO2 capture technology.

Technip Energies, GE Vernova, and Balfour Beatty, supported by Shell in the UK are forming the Carbon Capture Alliance (CCA). The alliance members are deeply committed to long-term investment in the UK, with members already possessing a significant UK footprint and a mature UK supply chain.

In March 2023, the UK government announced up to £20 billion to support the initial deployment of CCUS, focused on creating four clusters by 2030, including the East Coast cluster which includes Teesside. Government analysis shows that up to 10 gigawatts of power CCUS could be needed in order to decarbonise the UK power sector by 2035 (10GW is around 10% of the total UK electricity system today).

Arnaud Pieton, CEO of Technip Energies, commented, “Our selection for the Net Zero Teesside Power project is a testament to Technip Energies growing leadership position as an integrated state-of-the-art CCUS solutions provider. By capturing up to 2 million tonnes of CO2 at a large power plant, we collectively rise to the challenge of scale by providing sustainable and available energy at a large scale. With our partners GE Vernova and Balfour Beatty, we are honoured to contribute to this flagship project that supports bp and the UK in their goal of developing one of the first decarbonised industrial clusters in the world.”

Maví Zingoni, CEO, Power at GE Vernova, commented: “The development of Net Zero Teesside Power, one of the world’s first commercial scale gas-fired power stations with carbon capture, marks a huge step towards supporting the UK government’s commitment to fully decarbonise its power system by 2035. GE Vernova will help bring proven expertise in natural gas combined cycle plant engineering, operability, and full-scale integration to support carbon abatement for this project. We believe post-combustion carbon capture can play a crucial role in reducing emissions and ensuring dispatchable power in the future.”

Leo Quinn, CEO of Balfour Beatty Group, said: “Today’s announcement takes us a step closer to realising one of the world’s first commercial scale gas-fired power stations with carbon capture . It’s a significant milestone in delivering the critical infrastructure needed to transition the UK to Net Zero. Balfour Beatty’s market leading capabilities, underpinned by our unrivalled experience and proven track record in delivering complex infrastructure projects, means we are perfectly positioned to support the delivery of this critical project alongside Technip Energies and GE Vernova – proving on the world-stage that the UK is primed and ready to lead the way in decarbonising our industrial footprint.”

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About Technip Energies 
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.ten.com.

About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. 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 80,000 employees across 100+ countries around the world. 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.

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 and LinkedIn.

About Balfour Beatty 
Balfour Beatty is a leading international infrastructure group with over 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.

We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Over the last 114 years we have created iconic buildings and infrastructure all over the world. Currently, we are working to deliver Hinkley Point C, the first UK nuclear power station in a generation; constructing the world-class arts and cultural facility, the Lyric Theatre, in Hong Kong; and designing, building, financing, operating and maintaining the Automated People Mover superstructure at the fifth busiest airport in the world, Los Angeles International Airport.

Important Information for Investors and Securityholders

Forward-Looking Statement

This Press Release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2022 Annual Financial report filed on March 10, 2023, with the Dutch Authority for the Financial Markets (AFM) and the French Autorité des Marchés Financiers which include a discussion of factors that could affect the Company's future performance and the markets in which the Company operates. Please also see Section 1.3 (Principal Risks and Uncertainties) of the Company's 2023 Half-Year Report which was filed with the AFM and the AMF on July 27, 2023.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

Prolec GE, a Prolec subsidiary of a joint venture between GE and Xignux, a Mexico-based private company, today announced additional manufacturing investments of $85 million to meet unprecedented North American demand for single-phase pad-mount transformers. Prolec GE will increase its manufacturing capacity in Monterrey by equipping a new facility capable of annually duplicating the number of transformers produced at its existing Mexico facility. The company will also take this opportunity to incorporate state-of-the-art manufacturing technology to increase productivity and improve ergonomics in key areas throughout the new plant.​