TOKYO (March 14, 2026) – GE Vernova (NYSE: GEV) and Hitachi, Ltd. (TSE: 6501, “Hitachi”) have signed a Memorandum of Understanding (MoU) to explore the potential deployment of the BWRX-300 small modular reactor (SMR) across Southeast Asia. The agreement was formalized during the Indo-Pacific Energy Security Ministerial & Business Forum in Tokyo, in the presence of Doug Burgum and Ryosei Akazawa.

Under the MoU, the two companies will collaborate through their joint ventures, GE Vernova Hitachi Nuclear Energy and Hitachi GE Vernova Nuclear Energy, to identify commercial prospects for deploying the BWRX-300 in Southeast Asia. The partnership will also examine ways to integrate qualified Japanese suppliers and enhance the SMR supply chain to support future reactor deployment in the region.

“As countries increasingly turn to nuclear energy to strengthen energy security, GE Vernova and Hitachi are committed to continuing our longstanding collaboration in advancing the global nuclear sector,” said Roger Martella, Chief Corporate Officer at GE Vernova. “Our SMR technology offers a long-term solution for nations across Southeast Asia.”

Yasunori Inada, Vice President and Executive Officer and CEO of the Nuclear Energy Business Unit at Hitachi, added: “Building on decades of experience in nuclear technology through our partnership with GE Vernova, we are eager to expand our efforts by exploring BWRX-300 deployment in Southeast Asia. Our goal is to support a sustainable energy future in the region by leveraging the combined strengths of both companies.”

Global momentum for the BWRX-300 continues to grow. The first unit is currently under construction at Ontario Power Generation’s Darlington site in Canada, with completion expected before the end of the decade, positioning it as the first SMR in the Western world. Key components, including the reactor pressure vessel, are already being manufactured, while construction work is progressing as scheduled. A total of four SMRs are planned for the site.

In the United States, the U.S. Nuclear Regulatory Commission has accepted and is reviewing an application from the Tennessee Valley Authority (TVA) to build the first BWRX-300 at its Clinch River site in Oak Ridge, Tennessee. These developments highlight the growing traction of the BWRX-300 as GE Vernova and Hitachi build on more than 50 years of experience in the nuclear industry, combining proven technologies and deep expertise to enable large-scale commercial deployment of SMRs worldwide.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company focused on power generation, wind energy, and electrification, supported by its accelerator businesses. With over 130 years of experience addressing global energy challenges, the company is well positioned to support the energy transition by expanding electrification while reducing carbon emissions. Headquartered in Cambridge, Massachusetts, GE Vernova employs around 85,000 people across approximately 100 countries. Guided by its mission, “The Energy to Change the World,” the company delivers technologies aimed at creating a more reliable, affordable, sustainable, and secure energy future.

About Hitachi

Hitachi, Ltd. operates through its Social Innovation Business (SIB), integrating IT, operational technology (OT), and products to help build a balanced society where environmental sustainability, economic growth, and wellbeing coexist. The company conducts business globally across four main sectors: Digital Systems & Services, Energy, Mobility, and Connective Industries, alongside its Strategic SIB unit focused on emerging growth areas. With Lumada at its core, Hitachi leverages data, advanced technologies, and industry expertise to address complex societal and customer challenges. For FY2024 (ended March 31, 2025), the company reported revenues of 9,783.3 billion yen, with 618 consolidated subsidiaries and approximately 280,000 employees worldwide.

Forward-Looking Statements

This document includes forward-looking statements, which relate to future events and inherently involve varying levels of uncertainty. These statements typically address anticipated business performance, financial condition, product outcomes, and the expected impact of services provided by GE Vernova and Hitachi. They often include terms such as “expect,” “anticipate,” “plan,” “intend,” “estimate,” and similar expressions. Such statements involve uncertainties regarding planned or potential investments, transactions, or projects, as well as the influence of macroeconomic conditions, market volatility, global supply chains, and broader economic factors on business operations and financial results.

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