Athens / Bucharest (September 10, 2024) - GE Vernova Inc. (NYSE: GEV) announced today that it has entered into an agreement with Public Power Corporation Renewables (PPC R) to supply, install and commission 23 of GE Vernova's 6.1 MW - 158m* turbines for a wind farm in Vaslui County, Romania. The deal, which was booked in the second quarter of 2024, expands the presence of GE Vernova’s Onshore Wind business in Romania by adding 140 MW to the company’s existing installed base of more than 700 MW in the country.

Initial deliveries for the project are scheduled for the first half of 2025, and the project is expected to achieve full operation by the end of next year. When completed, the project is expected to provide enough energy to power the equivalent of approximately 62,000 households.

The agreement aims to enable both companies to support Romania in its goal of adding significantly more renewable energy by 2030.

Gilan Sabatier, Chief Commercial Officer for GE Vernova’s Onshore Wind business in International Markets, said: “We are honored that PPC Renewables has chosen GE Vernova turbines for their Vaslui project in Romania. The project is expected to support Romania’s energy strategy and the country’s plans to install an additional 5 GW of wind by 2030, while enabling GE Vernova to achieve its mission of delivering industry leading technology to electrify and decarbonize the world. This project reinforces our ongoing commitment to help lead the energy transition in the European Union, where we have a long history, have installed thousands of wind turbines, and are using our latest technology in projects like this.”

Konstantinos Mavros, PPC Renewables CEO & PPC Group Deputy CEO of RES, said: “We are grateful for signing a new supply agreement with GE Vernova, for the implementation of our emblematic wind park in Vaslui County (Romania), which consists of 23 wind turbines of total installed power of 140 MW. Our energy portfolio is gradually expanding into new countries setting PPC as the largest clean energy company in Southeast Europe with 4.7 GW production capacity from renewables, projects of 2.8 GW under construction or at the Ready to Build stage, and a project pipeline of 20 GW.”

GE Vernova's Onshore Wind business has a total installed base of approximately 56,000 turbines and nearly 120 GW of installed capacity worldwide. Committed to its customers' success for more than two decades, its product portfolio offers next-generation technology that leads with high-powered turbines to enable high-quality scale and drive decarbonization through affordable and sustainable generation of renewable energy.

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*Note to Editors: GE’s Vernova’s 6.1 MW turbine with a 158 meter rotor is what we refer to as the 6.1 MW-158m.

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 Wind segment is focused on delivering a suite of wind products and services to help accelerate a new era of energy by harnessing the power of wind. The business comprises the Offshore Wind, Onshore Wind, and LM Wind Power businesses. Technologies provided to customers include the Haliade-X platform, our offshore wind turbine, and the next generation high efficiency 3-megawatt onshore wind turbine, as well as maintenance solutions and life extension optionality.

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.

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

LONDON (September 9, 2024) - GE Vernova’s nuclear business, GE Hitachi Nuclear Energy (GEH), has signed a series of Memorandum of Understanding (MoUs) with Aecon, AtkinsRéalis, Jacobs and Laing O’Rourke.

These arrangements mark another step forward in GEH’s potential deployment of its BWRX-300 technology in the UK, as it continues to progress through Great British Nuclear’s (GBN) ongoing small modular reactor (SMR) selection competition.

Aecon is the provider of construction services, including project management, construction planning and execution for Ontario Power Generation’s Darlington New Nuclear Project while AtkinsRéalis is serving as architect and engineer for the project. Construction at Darlington is expected to start in 2025 with commercial operation to commence by the end of 2029. These MoUs enable GEH to leverage lessons learned from the project to enhance progress in the UK.  

Additionally, GEH’s ongoing collaboration with Jacobs can facilitate best-in-class design capabilities tailored to the UK environment while the MoU with UK-based Laing O’Rourke will see it support the development of the programme, drawing on its sector leading knowledge of modern methods of construction.

These agreements build on GEH’s previously announced collaboration with Sheffield Forgemasters to discuss how the Sheffield-based company’s forgings could help contribute to BWRX-300 deployment in the UK.

Andy Champ, GEH UK Country Leader said: “Strategic relationships like these lay further foundations for the successful roll-out of our BWRX-300 technology in the UK. These MoUs underscore our desire to work closely with the UK nuclear supply chain as the SMR competition progresses, which can play a key role in helping Britain become a clean energy superpower.

“Given our BWRX-300 reactor is planned for deployment in Canada, collaborating with best-in-class experts across the industry puts us in an even stronger position to reliably deliver this technology for the best value for money. It also furthers our confidence in our ability to work with Great British Nuclear to bring our SMR technology to market.”

Thomas Clochard, Executive Vice President, Nuclear & Civil, Aecon Group Inc. said: “Aecon’s extensive nuclear experience and technical knowledge spans five decades and we are well positioned to play an important role in building the next generation of nuclear infrastructure to ensure clean, reliable and affordable electricity for future generations. Aecon is at the forefront of advancing the energy transition, including through nuclear power, as the Canadian constructor of North America’s first grid-scale SMR – building the first-of-a-kind GEH BWRX-300 SMR and delivering the two largest ongoing nuclear refurbishment projects in North America. Aecon is proud to bring its full spectrum of nuclear construction and project management services, as well as unique fabrication and execution solutions to support the future deployment of SMRs in the UK working with GEH, Great British Nuclear and our partners.”

Joe St Julian, President, Nuclear, AtkinsRéalis, said: “AtkinsRéalis has been working closely with GEH and our partners at Darlington to deliver the first commercial, land-based SMR in the western world. As a global partner to GEH, we look forward to leveraging our experience at Darlington and bringing our broader knowledge and experience in new nuclear build programmes to ensure GEH’s nth-of-a-kind UK project delivers efficiently and safely to support UK government’s aspirations of 24GWs of nuclear before 2050.”

Dawn James, Jacobs Vice President, said: “We will assist GEH to build relationships of trust with government and regulators, de-risk the program and secure the GDA statements on time. We have held trusted supplier status on all major UK nuclear licensing applications since 2007, drawing on a deep understanding of both the GDA process and the associated site-specific regulatory requirements for new nuclear power stations. Our work with GEH will progress our joint aim of ensuring the UK’s energy security and building a more connected and sustainable world.”

Allan Gregory, Laing O’Rourke’s Nuclear Delivery Director, said: “As a proud member of the UK’s new nuclear supply chain, we are committed to helping the UK Government achieve its 2030 clean energy mission. We are delighted to be working with GEH to support its plans to deploy its BWRX-300 small modular reactor in the UK. We will harness our knowledge of modern methods of construction, as well as our established supply chain partnerships, to provide delivery certainty for GEH’s technology.”

Building on a long and deep history in the UK, GE Vernova has a significant local footprint with four manufacturing facilities and more than 30 percent of the country’s electricity currently powered by its technology. GEH is committed to developing a robust UK supply chain for its BWRX-300 deployment having held a SMR supply chain conference in Sheffield earlier this year, which was attended by over 150 UK businesses.

Separately, in January 2024 GEH received a £33.6 million Future Nuclear Enabling Fund (FNEF) grant from the UK Department for Energy Security & Net Zero (DESNZ). In conjunction with the awarding of this grant, GEH entered the Generic Design Assessment (GDA) process for the BWRX-300.

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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.

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.

Teaching a group of young girls to extract DNA from fruit — over videoconference, due to the pandemic — wasn’t in Miguel Angel Herranz del Pino’s job description. But the field operation process manager at GE Vernova in Madrid, Spain, stepped in two years ago when a co-worker was unable to take the class during the site’s first-ever STEAM Girls Spain Summer Camp. This year, Herranz del Pino was a camp counselor again, this time in person. If wrangling 10-year-old girls was challenging over Zoom, doing it live was even harder — but far more rewarding.

Berlin, Germany (July 18, 2024) - GE Vernova’s Electrification business (NYSE:GEV) today announced that it has entered into a research & development contract with four German Transmission System Operators (TSOs).

The R&D agreement with TenneT TSO GmbH, 50Hertz Transmission GmbH, Amprion GmbH and Transnet BW GmbH for the design and engineering of a Multi-Terminal/Multi-Hub High-Voltage Direct Current (HVDC) connection solution marks a key initial milestone on the path to a future high voltage grid for Germany and Europe’s energy transition.

“We believe GE Vernova’s technology will be essential to the efficient integration of renewable energy and the future of the energy transition,” said Johan Bindele, head of Grid Systems Integration at GE Vernova’s Grid Solutions business. “This truly transformative and groundbreaking innovation could change fundamentally how we deliver electricity.”

HVDC is the most efficient way to transmit bulk power over long distances and is essential to integrating renewable wind and solar energy into the grid. With today’s available HVDC Voltage Sourced Converter (VSC) technology, HVDC systems are point-to-point, bi-directional transmission systems that have one HVDC converter station at each end. By developing a new generation of multi-terminal HVDC technology, GE Vernova, in partnership with the four German TSOs, will create an HVDC system in which multiple terminals can connect with one another. This multi-terminal grid will enable electricity to travel where needed for a highly efficient electron highway.

The R&D contract also includes the conceptualization, design and development of enabling technologies, specifically a new-to-market 525 kV Direct Current Circuit Breaker (DCCB) that will allow these and other TSOs to trip and isolate faults in the HVDC system. GE Vernova is currently in the development phase of the DCCB, which, when completed, is planned to become part of GE Vernova’s market offer.

The initial R&D award covers an 18-month design phase through December 2025. The implementation phase is scheduled to begin in 2026. Commercial deployment is expected by 2029. The project will be led by GE Grid GmbH (Berlin) with engineering to be conducted at GE Vernova’s HVDC facility in Stafford, UK.

This announcement reaffirms GE Vernova's dedication to providing innovative solutions that meet the grid's changing needs.

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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 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.

LONDON (July 8, 2024) — GE Vernova’s Nuclear business, GE Hitachi Nuclear Energy (GEH), has submitted its tender response, as part of Great British Nuclear’s (GBN) ongoing small modular reactor (SMR) selection competition, by providing documentation in support of its BWRX-300 SMR technology.

The 10th generation SMR design builds on decades of real-world operating experience and innovation, using a standard design, a proven delivery model and GEH’s experience with cross-border regulatory collaboration. GEH and Ontario Power Generation are developing the first BWRX-300 at OPG’s Darlington site near Toronto. Early site preparation work has been completed, construction is expected to start in early 2025 and commercial operation to commence by 2029. A total of four 300 MW units are planned for the Darlington site. 

“We have entered this competition with a proven track record of progressing SMR reactor technology internationally, a fuel that is already licensed and in operation, and a reactor designed for manufacture,” said Andy Champ, GEH UK Country Leader. “Our BWRX-300 has evolved from proven, simple, boiling water reactor technology and is not just smaller, but through innovation even further simplified. We believe this uniquely positions us to reliably deliver an SMR with the most value for money and along with our strategic investment partners, be a valuable partner to the UK Government as it strives to reach its net zero target by 2050.

“We have a strong and growing team here in the UK, and we are confident that our SMR represents the lowest risk and highest reward choice for Great British Nuclear. We look forward to the outcome of the competition and the opportunity to play a pivotal role in helping to deliver not just Great British Nuclear’s ambitions, but also the new Government’s mission to make the UK a green energy superpower."

Building on a long and deep history in the UK GE Vernova has a significant local footprint with four manufacturing facilities and more than 30 percent of the country’s electricity currently powered by its technology. GEH is committed to developing a robust UK supply chain for its BWRX-300 deployment having held a SMR supply chain conference in Sheffield earlier this year, which was attended by over 150 UK businesses. GEH is already collaborating with Sheffield Forgemasters on potential SMR deployment and expects to announce further strategic partnerships imminently.

Separately, in January 2024 GEH received a £33.6 million Future Nuclear Enabling Fund (FNEF) grant from the Department for Energy Security & Net Zero (DESNZ). In conjunction with the awarding of this grant, GEH entered the Generic Design Assessment (GDA) process for the BWRX-300.

###

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 planned and potential transactions, contract and project proposals and bidding processes, 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.

CAMBRIDGE, Mass. (June 10, 2024) – GE Vernova Inc. (NYSE: GEV) and Seatrium Limited (Seatrium or the Group) today announced that, they have been awarded a third contract by TenneT TSO B.V. (TenneT) for the construction of a 2-gigawatt (GW) High Voltage Direct Current (HVDC) electric offshore transmission system in the Netherlands. The project is slated to begin in June 2024, with commissioning expected by 2031.

This contract is part of the five-year Framework Cooperation Agreement with TenneT announced by the GE Vernova-Seatrium consortium in March 2023. The agreement was signed to cover three projects, each valued at approximately EURO 2 billion: IJmuiden Ver Beta, IJmuiden Ver Gamma, and Nederwiek 2. The current contract is for Nederwiek 2, TenneT’s third project with this consortium. The contracts for IJmuiden Ver Beta and IJmuiden Ver Gamma were awarded to the consortium in March 2023.

The HVDC system will support TenneT's sustainability goal of connecting 40 GW of offshore wind energy in the German and Dutch North Sea and will serve the Nederwiek 2 offshore wind farm, located approximately 95 kilometers off the coast of the Netherlands.

Dr. Johannes Kammer, Associate Director of Large Projects Offshore - 2GW, TenneT, said: “With the successful call-off of Nederwiek 2 from the Framework Cooperation Agreement with our Partners GE Vernova and Seatrium, we are now starting into the delivery of the third project with this consortium. We are pleased with the progress we made already in the first two projects with these partners. Now we experience the benefits of using the works from the initial two projects on the next one as we design one and build it many times.”

GE Vernova's Grid Solutions, the consortium leader, will be responsible for the engineering, procurement, construction, installation, and commissioning (EPCI) of the HVDC converter stations. Seatrium’s scope of work will include the engineering, procurement, construction, transportation, installation, and commissioning of the 2 GW HVDC Offshore Converter Platform.

Mr. Johan Bindele, Head of Grid Systems Integration at GE Vernova’s Grid Solutions business, added: “TenneT is playing a crucial role in the energy transition, and we are honored to support their efforts with our advanced HVDC system. GE Vernova is dedicated to decarbonizing and electrifying the world, and the TenneT projects exemplify our commitment to advancing renewable energy infrastructure.”

Mr. Samuel Wong, Executive Vice President, Fixed Platforms at Seatrium, said: "We are pleased to partner with TenneT and GE Vernova to deliver this transformative offshore wind solution. This project underscores our commitment to helping our customers achieve their renewable energy goals by providing innovative and cost-effective solutions that help accelerate the energy transition. With valuable experience from working on the first two platforms, we are confident of delivering a high-quality end product to our customer, as well as achieving greater synergies through project repeatability in our series-build strategy with the One Seatrium Global Delivery Model.”

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About TenneT
TenneT is a leading European grid operator. We are committed to providing a secure and reliable supply of electricity 24 hours a day, 365 days a year, while helping to drive the energy transition in our pursuit of a brighter energy future – more sustainable, reliable and affordable than ever before. In our role as the first cross-border Transmission System Operator (TSO) we design, build, maintain and operate over 25,000 kilometres of high-voltage electricity grid in the Netherlands and large parts of Germany, and facilitate the European energy market through our 17 interconnectors to neighbouring countries. We are one of the largest investors in national and international onshore and offshore electricity grids, with a turnover of EUR 9.2 billion and a total asset value of EUR 45 billion. Every day our 8,300 employees take ownership, show courage and make and maintain connections to ensure that the supply and demand of electricity is balanced for over 43 million people.

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 Seatrium Limited
Seatrium Limited provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types.

The Group’s key business segments include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation.

As a premier global player offering offshore renewables, new energies and cleaner offshore & marine solutions, Seatrium is committed to delivering high standards of safety, quality and performance to its customers which include major energy companies, vessel owners and operators, shipping companies, and cruise and ferry operators. Seatrium operates shipyards, engineering & technology centres and facilities in Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, the United Arab Emirates, the United Kingdom and the United States. Discover more at www.seatrium.com. 

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 and TenneT TSO B.V.'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 business operations, financial results and financial position and on the global supply chain and world economy.

CAMBRIDGE, Mass. (May 31, 2024) – GE Vernova Inc. (NYSE:GEV) today announced that it completed the sale of a portion of its Steam Power business to EDF. The transaction includes the manufacturing of conventional island equipment for new nuclear power plants as well as related maintenance and upgrade activities for existing nuclear plants outside of the Americas. As part of the EDF, this business will be called Arabelle Solutions.

GE Vernova CEO Scott Strazik said “Completing this transaction is an important milestone for GE Vernova. I’d like to thank our teams for their efforts to bring this transaction to a successful conclusion. Going forward, GE Vernova plans to continue to be a best-in-class services partner for our other Steam Power customers and is focused on advancing the future of nuclear power with our small modular reactor technology.”

GE Vernova retains a services-focused Steam Power business, including services for more than 100 gigawatts of nuclear turbine islands in the Americas region. It also retains GE Hitachi Nuclear Energy, a leading lifecycle provider for reactor islands, global nuclear fuels, and services, which is working to deploy commercial, grid-scale SMR technologies. GE Vernova remains committed to the nuclear sector and continues to invest in next-generation technology, which plays an important role in today’s energy transition.

Financial terms are not being disclosed.

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, such as the continued success of GE Vernova’s Steam Power business following the sale of a portion of its business to EDF. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see https://www.gevernova.com/investors/fls as well as our SEC filings. We do not undertake to update our forward-looking statements.

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 mission is embedded in its name – it retains its legacy, “GEV,” 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.

In 2009, the United States Department of Energy was seeking a dose of radical thinking. Early that year, its newly created Advanced Research Projects Agency–Energy (ARPA-E) issued an open call for “the most revolutionary energy technologies.” If ARPA-E officials were expecting a steady trickle of ideas from business, academia, and research laboratories, they were wrong. They’d just opened the floodgates.