“In my mind, there are no two letters that better embody the spirit of innovation — and have always embodied the spirit of innovation, in the past and the future of this country — than ‘GE,’” said Scott Strazik, CEO of GE Vernova, as his company officially completed its spin-off from the GE Corporation in April. In the eight months since, GE Vernova has continued to make good on its commitment to electrify and decarbonize the world. As the company looks forward to another year leading the energy transition, here’s a glance back at the biggest milestones of 2024.

This February, when the National Academy of Engineering named the 114 Americans it was elevating to engineering’s highest honor, it cited Dennis Henneke, of GE Vernova’s nuclear business, GE Hitachi Nuclear Energy, for an imposing achievement: “applying probabilistic risk assessment [PRA] to enhance nuclear reactor safety.” The achievement, a kind of engineering grand slam — arcane complexity and vital real-world importance — was not, Henneke says, the result of a lifelong, noble quest.

This year’s annual United Nations climate summit, COP 29, is the first COP meeting to focus on finance in 15 years, and among the major agenda items delegates have been discussing are financial commitments by wealthier countries to help developing nations transition their energy infrastructure away from coal and other high-emissions sources and toward more renewable forms of energy.

The term “energy transition” might conjure up an image of steady technological change, with grids gradually replacing carbon-emitting fossil fuel plants with more sustainable renewables. But this narrative of a straight swap only tells half of the story. The other part of the energy transition phenomenon is the expansion of energy demand, on a massive scale.

Throughout its businesses, GE Vernova benefits from the leadership qualities and problem-solving skills of its many veteran employees. As the country celebrates Veterans Day, we shine a spotlight on two bright stars.

Jamie France, Striving for Quality

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

On a cold December afternoon in 2015, the lights blinked out, town by town, across western Ukraine. It was two days before Christmas, and by sunset more than 230,000 residents had lost power.

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.

MARKHAM, Ontario (October 10, 2024) - GE Vernova’s Nuclear business (NYSE: GEV), GE Hitachi Nuclear Energy (GEH), today announced it has selected Velan Inc, a Montreal-based company, to provide engineering support and manufacture valves for the first BWRX-300 small modular reactor.

“Our collaboration with Velan will further strengthen the robust and experienced Canadian nuclear supply chain and bring economic benefits to the country,” said Sean Sexstone, Executive Vice President, Advanced Nuclear, GEH. “It also positions Velan to be a strategic supplier as our technology is deployed globally. We will continue to look for opportunities to work with Canadian suppliers to support the deployment of the BWRX-300.”

“Velan’s involvement in this project highlights our decades-long leadership in the nuclear power sector,” said James A. Mannebach, Chairman and CEO of Velan Inc. “As we approach our 75th anniversary in 2025, we are remarkably well-positioned to support this landmark project and help shape the future of Canada’s nuclear energy landscape through Small Modular Reactor technology.”

GEH and Ontario Power Generation are developing the first BWRX-300 at OPG’s Darlington site. Early site preparation work has been completed with construction expected to start in 2025 and commercial operation to commence by the end of 2029. A total of four 300 MW units are planned for the Darlington site. OPG's decades of operating experience and proven track record of delivering on-time, on-budget nuclear refurbishment, combined with GEH's nuclear expertise, sets the stage for success in advancing the energy landscape in other regions.

The BWRX-300 is a key pillar of GE Vernova’s energy transition leadership. In addition to helping customers achieve decarbonization goals, the BWRX-300 is designed to reduce construction and operating costs. Specifically, the BWRX-300 leverages a unique combination of existing fuel, plant simplifications, proven components and a design based on an NRC-certified reactor design.

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About GE Vernova 
GE Vernova (NYSE: GEV) is purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.

GE Vernova’s Nuclear energy business, through its global alliance with Hitachi, is a world-leading provider of nuclear fuel bundles, services, and advanced nuclear reactor designs. Technologies include boiling water reactors and small modular reactors, such as the BWRX-300, which is one of the simplest, yet most innovative boiling water reactor designs. GE Vernova’s Nuclear fuel business, Global Nuclear Fuel (GNF), is a world-leading supplier of boiling water reactor fuel and fuel-related engineering services. GNF is a GE Vernova-led joint venture with Hitachi, Ltd. and operates primarily through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Learn more: GE Vernova and LinkedIn.

Forward-Looking Statements
This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova’s expected future business and financial performance and financial condition, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about memoranda of understanding and the expected impact of the relationships created thereunder, contract and project proposals, bidding processes, government review processes and competitions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

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Humans by nature are resource maximizers. Doing more with less — the essence of efficiency — is one of our oldest games. The economist Adam Smith thought deeply about the matter, which is why he is credited with devising the division of labor: the insight that better organizing factory worker tasks, rather than hiring more workers, is just as effective. But efficiency, which is a ratio, must be correctly understood.