• Long-established engineering site in Sesto San Giovanni expands to support the fast-growing Electrification segment
• Increased production of bushings, key components for transmission and distribution systems
• Around 50 new manufacturing jobs to be created in the Lombardy region

SESTO SAN GIOVANNI, Italy (March 3, 2026) – GE Vernova Inc. (NYSE: GEV) announced an investment of approximately $30 million to expand its electrification manufacturing facility in Sesto San Giovanni, Italy, addressing rising global demand for power infrastructure.

The project focuses on increasing output of bushings — critical components used in power and generator transformers that ensure safe and efficient transmission and distribution of electricity. The expansion is expected to generate about 50 new jobs in Lombardy, primarily within manufacturing roles.

“With this investment, we are reinforcing a key capability within our rapidly growing Electrification business,” said Philippe Piron, CEO of GE Vernova’s Electrification segment. “Sesto San Giovanni is a vital part of our global bushing production network. Expanding operations here improves supply reliability for our customers and strengthens our ability to support large-scale transmission and generation projects worldwide.”

As utilities and energy providers continue upgrading grids and modernizing networks to meet increasing electricity demand, the need for transformers and substations is rising. This, in turn, drives higher demand for bushings, which are essential for the safe and reliable operation of high-voltage equipment. The expansion will introduce additional production lines for advanced dry-type bushings, including Resin Impregnated Paper (RIP) and Resin Impregnated Synthetic (RIS) technologies, supporting voltage levels up to 245 kV.

The investment is part of GE Vernova’s broader plan to allocate $11 billion to capital expenditures and R&D between 2025 and 2028. It follows the company’s $5.3 billion acquisition of Prolec GE to expand transformer production in North America, more than $100 million invested in U.S. grid facilities, and the expansion of its Stafford, UK site to strengthen High-Voltage Direct Current (HVDC) and grid manufacturing capabilities in Europe.

A century of Italian engineering excellence

For over 100 years, the Sesto San Giovanni facility has been recognized for its engineering expertise and manufacturing quality in high-voltage bushings. The site serves as GE Vernova’s Bushing Center of Excellence, where products are designed, produced, and serviced for major power infrastructure projects worldwide, including some of the highest voltage applications in the industry.

GE Vernova also plays an important role in Italy’s energy sector, having supported power generation in the country for more than a century. Today, approximately 25% of Italy’s electricity capacity relies on GE Vernova technologies.

Forward-Looking Statements

This document contains forward-looking statements, meaning statements related to future events that involve varying levels of uncertainty. These statements relate to GE Vernova’s expected business and financial performance, product capabilities, and the potential impact of its services. They often include terms such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “will,” “estimate,” “forecast,” or similar expressions. Such statements are subject to risks and uncertainties, including those related to planned investments, market conditions, and global economic factors that may influence actual results.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy company focused on Power, Wind, and Electrification, supported by accelerator businesses. With over 130 years of experience, the company is well positioned to play a leading role in the energy transition by advancing electrification while reducing carbon emissions.

Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 85,000 people across around 100 countries. Guided by its mission, The Energy to Change the World, the company develops technologies that contribute to a more reliable, sustainable, and cost-effective energy future.

GE Vernova’s Grid Solutions business delivers advanced technologies for power transmission and distribution, supporting grid modernization and enabling a secure, decarbonized energy system.

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