• Acquisition Enhances Supply Chain Resilience Amid Significant Industry Growth

GREENVILLE, S.C. (March 3, 2025) – GE Vernova, Inc. (NYSE: GEV) has officially completed the acquisition of Woodward, Inc.’s heavy-duty gas turbine combustion parts division, headquartered in Greenville, S.C. This strategic move underscores GE Vernova’s commitment to strengthening domestic manufacturing, securing jobs, and reinforcing its supply chain in the U.S.

“The successful completion of this acquisition fortifies our supply chain, enabling us to better support our customers and the broader energy sector,” stated Eric Gray, President & CEO of GE Vernova’s Gas Power division. “We are excited to integrate these skilled professionals into our team and leverage their expertise.”

Combustion parts produced by the acquired division are essential components of GE Vernova’s cutting-edge gas turbines, helping to meet increasing energy demands driven by data centers, industrial expansion, and overall load growth.

This acquisition aligns with GE Vernova’s broader investment strategy, which includes a previously announced $160 million investment and the hiring of over 650 new employees at its Greenville facility. This site has been a cornerstone of South Carolina’s industrial landscape for more than five decades.

The newly acquired team will operate under the leadership of Shane Long, Global Supply Chain Leader for GE Vernova’s Gas Power business. GE Vernova has taken ownership of all assets from Woodward, Inc.’s Greenville operations, though financial details of the transaction remain undisclosed.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy company specializing in Power, Wind, and Electrification, supported by accelerator businesses. With over 130 years of industry leadership, GE Vernova is dedicated to advancing the energy transition by expanding electrification while pursuing decarbonization. The company plays a key role in ensuring energy security, affordability, and sustainability. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova operates in over 100 countries with a workforce exceeding 80,000 employees.

GE Vernova’s Gas Power division develops high-efficiency natural gas technologies and decarbonization solutions to support a lower-carbon future. As an industry leader in gas turbines and power plant innovations, it boasts the largest installed base worldwide.

Forward-Looking Statement Disclaimer

This document includes forward-looking statements concerning potential future developments, including GE Vernova’s business performance, product impact, and anticipated financial results. Such statements often feature terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “forecast,” or similar expressions. Forward-looking statements inherently involve uncertainties, including potential investments, economic fluctuations, and supply chain disruptions that could influence GE Vernova’s operations, financial standing, and overall market conditions.

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