• 147 MW wind farm utilizes 46 3.2 MW–103m turbines
• Installation produces sufficient energy to supply electricity to approximately 120,000 Japanese homes
• Initiative advances Japanese government objectives for wind and renewable energy expansion

TOKYO, Japan (April 3, 2025) – GE Vernova’s Onshore Wind division confirmed today that the Abukuma wind facility has commenced power generation following the achievement of its Commercial Operation Date (COD). The 147 MW installation incorporates 46 3.2 MW–103m* onshore wind turbines.

Developed by Fukushima Fukko Furyoku, LLC, a coalition of nine firms under the leadership of Sumitomo Corporation, the Abukuma project represents a strategic partnership focused on reconstructing the Abukuma region through sustainable energy development. This collaboration integrates GE Vernova’s cutting-edge technology with Toshiba Corporation’s proven implementation expertise, demonstrating effective international cooperation in advancing Japan’s renewable energy infrastructure.

Positioned in the Abukuma region, this landmark installation stands as Japan’s most substantial onshore wind energy facility. Capable of generating sufficient electricity to serve approximately 120,000 Japanese households, the project serves as a cornerstone for Fukushima’s post-2011 revitalization strategy, fostering economic revival and enhancing energy security through clean power generation.

David Hardy, Chief Commercial Officer for GE Vernova’s Wind segment, said: “We are pleased to announce the start of operation of this critically important wind farm for Japan along with our consortium members. The Abukuma wind farm is powered by technology that is developed to minimize environmental impact and cope with extreme weather conditions in Japan, reinforcing our commitment to supporting our customers in meeting Japan’s ambitious renewable energy and wind power goals.”

“We are proud to have accomplished this meaningful project together with GE Vernova in Fukushima. We believe this wind farm will contribute to the region’s economic development for years to come, generating local employment opportunities and other positive impacts. From a decarbonization perspective, we also see this project as helping Fukushima Prefecture become a leading region in the adoption of renewable energy on the global stage.” said Hirano Takayuki, Representative, Fukushima Fukko Furyoku, LLC.

GE Vernova’s Onshore Wind division maintains a global installed base of approximately 57,000 turbines, representing over 120 GW of capacity worldwide. With two decades of customer-focused innovation, the business delivers next-generation high-capacity turbines at scale, accelerating decarbonization through cost-effective, sustainable renewable energy solutions.

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GE Vernova introduces the TM2500 DLE, a next-generation mobile aeroderivative gas turbine offering enhanced efficiency, reduced emissions, and a more compact design compared to its predecessor. This innovative “power plant on wheels” delivers up to 34MW of electricity with an impressive 39% efficiency, making it a game-changer for off-grid locations and emergency power needs.

A More Sustainable and Efficient Solution

Unlike earlier mobile solutions, the TM2500 DLE minimizes environmental impact by significantly lowering emissions of nitric oxide (NOx), carbon monoxide (CO), and particulate matter (PM). Additionally, it operates without water, eliminating the need for post-combustion treatment and reducing overall resource consumption.

Meeting Growing Global Energy Demands

As global energy demand rises, with 76 million people still lacking electricity access, mobile power solutions are becoming crucial. Many regions suffer from weak or non-existent grids, making decentralized, rapid-response power generation vital. The TM2500 DLE is designed for immediate deployment, offering an ideal solution for utilities, municipalities, data centers, and industries requiring emergency backup.

Flexibility and Rapid Deployment

The TM2500 DLE is engineered for fast installation and easy transport. Mounted on a two-trailer frame, it offers on-site adaptability and can be operational within 30 days of contract signing. Once in place, it features a rapid five-minute startup cycle, making it well-suited for grid stabilization, emergency response, and fluctuating power demands in disaster-stricken areas.

Built on Proven Reliability

With 140 million accumulated hours of operation, GE Vernova’s mobile gas turbines have consistently demonstrated their dependability. The TM2500 DLE maintains this reliability while offering enhanced fuel flexibility—it can run on natural gas, liquid fuel, or hydrogen blends. This adaptability ensures continuous power generation, even in regions with fuel supply fluctuations.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy leader committed to electrification and decarbonization. With over 130 years of expertise, the company operates across Power, Wind, and Electrification segments, driving energy transformation worldwide. Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 75,000 people in over 100 countries. Its Gas Power division pioneers cutting-edge gas turbine and power plant technologies, maintaining the largest installed base in the industry.

By delivering innovative energy solutions like the TM2500 DLE, GE Vernova continues to shape a more sustainable, reliable, and efficient future.

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• Springfield’s Energy Capacity Strengthened with LM6000VELOX Packages
• Three LM6000VELOX packages from GE Vernova will add 150 megawatts of rapid-response power to City Utilities’ McCartney Generating Station in Springfield, Missouri.
• These aeroderivative gas turbine packages, based on the reliable LM6000 technology, support dual-fuel operation with natural gas and diesel. Their ability to start quickly and reach full output in under five minutes ensures enhanced energy reliability.
• This additional power is intended to bolster Springfield’s electric grid and reduce the impact of unexpected supply disruptions.

ATLANTA, GA (March 28, 2025) – GE Vernova Inc. (NYSE: GEV) has secured an order from Springfield City Utilities (CU) to supply three LM6000VELOX* aeroderivative gas turbine packages. These units will expand generation capacity at CU’s McCartney Generating Station, a 100 MW facility in Greene County, Missouri.

Rising electricity demand, aging infrastructure, and extreme weather conditions have increased CU’s Planning Reserve Margin (PRM) requirements. PRM represents the excess generation capacity needed to maintain reliability during peak periods or outages. By 2026, CU must sustain a 36% PRM in winter, a significant jump from the current 15%. This necessitates additional generation capacity to safeguard against unforeseen power disruptions.

Boosting Grid Stability with High-Efficiency Technology

GE Vernova’s aeroderivative turbines will provide an extra 150 MW of flexible, reliable power, reinforcing grid stability. These units are set to become CU’s most efficient generators, capable of running on both natural gas and diesel as a backup fuel. The facility is expected to commence operations in 2027.

“This investment reinforces Springfield’s long-term energy security,” said Warren Brooks, Vice President of Electric Operations at City Utilities. “GE Vernova’s units will enable us to meet peak energy demands efficiently. This project aligns with our broader strategy of delivering affordable, reliable, and innovative energy solutions.”

Advanced Aeroderivative Solutions for Rapid Deployment

GE Vernova’s LM6000VELOX packages incorporate well-established LM6000* aeroderivative technology, renowned for its fast start-up—reaching full power in as little as five minutes—and its ability to complement intermittent renewable energy sources. The LM6000VELOX design streamlines installation and commissioning by up to 40%, cutting approximately 4,000 labor hours.

“With the increasing demand for electricity, driven by electrification and renewable energy expansion, utilities like CU must prioritize efficient and reliable grid operations,” said Dave Ross, CEO of GE Vernova’s Gas Power Americas. “We are excited to support CU in enhancing McCartney Generating Station with our cutting-edge technology.”

GE Vernova’s LM6000 gas turbines are part of a global fleet of nearly 1,200 units in operation across approximately 60 countries. In a Singular Annular Combustor (SAC) configuration, these turbines can run on up to 100% hydrogen by volume, contributing to a reduction in CO₂ emissions from gas-powered electricity generation.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy solutions company specializing in power, wind, and electrification. With over 130 years of industry expertise, GE Vernova is dedicated to advancing energy transformation by expanding electrification while supporting decarbonization efforts. Headquartered in Cambridge, Massachusetts, the company employs approximately 75,000 professionals across more than 100 countries.

GE Vernova’s Gas Power division pioneers advanced gas turbine technologies, offering efficient power generation and decarbonization solutions. With the largest installed base in the industry, the company continues to lead in delivering innovative, lower-carbon energy solutions for a sustainable future.

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• At DISTRIBUTECH 2025, GE Vernova introduces new whitepapers aimed at helping utilities address the evolving challenges of grid reliability, cybersecurity, and digital transformation.
• The whitepapers focus on virtualized protection, AI-driven grid management, and secure remote access, offering insights on how to build resilient, modern energy networks.
• Experts at DISTRIBUTECH 2025 will present live demonstrations of solutions at Booth 3223, showcasing practical tools for a grid ready for the future.

TEXAS, US (March 25, 2025) – As global utilities face escalating concerns related to grid security, modernization, and reliability, GE Vernova unveils a series of whitepapers that offer pragmatic strategies to enhance energy systems. Launched at DISTRIBUTECH 2025 in Dallas, Texas, these papers provide grid operators worldwide with valuable insights into cybersecurity, digitalization, automation, and artificial intelligence (AI) strategies—critical for ensuring a secure, resilient, and future-proof energy network.

The Growing Importance of Grid Reliability and Automation

The world is entering an era where AI-powered data centers, electrified transportation, and industrial automation are reshaping energy demand. This transition is placing immense pressure on grids, compelling utilities to reassess their approach to resilience and efficiency. Meanwhile, energy grids have become prime targets for cyberattacks. To address this, utilities must adopt scalable, software-based solutions that can revolutionize grid operations—improving reliability without requiring costly hardware upgrades, ensuring secure remote access, strengthening substation resilience, optimizing grid usage, and unlocking new economic possibilities.

GE Vernova’s latest whitepapers offer practical guidance on overcoming these critical challenges and securing networks for the future.

Key Insights from the Whitepapers

• Modernization through Virtualized Protection, Automation & Control (VPAC)
• Utilities are experiencing a major transformation in managing protection and control systems. Traditional, hardware-dependent protection systems are increasingly inadequate to handle the complexities of modern grids, making virtualization essential for utilities. GE Vernova’s research examines:
• Unlocking Resilience & Scalability with Virtualized Software-Defined Substation Solutions – GE Vernova explores how virtualization can replace outdated hardware dependencies, cut operational costs, and enable remote upgrades—ushering in a flexible, software-driven approach to grid management.

Enhancing Grid Cybersecurity

The power grid is not just an engineering challenge but a security priority. Grids remain prime targets for cyberattacks, and legacy systems combined with digital substations present significant vulnerabilities. Two whitepapers focus on:

Secure Remote Access Solutions – Many grid assets weren’t designed for remote management, making them vulnerable to cyber threats. This whitepaper outlines advanced access control strategies to protect legacy infrastructure while enabling modernization.

Substation Cyber Resilience – While digital substations are transforming grid management, they also bring new risks. This whitepaper explores multi-layered cybersecurity strategies to enhance defenses, reduce attack surfaces, and protect against sophisticated grid disruptions.

Empowering Intelligent Grids with AI

As the energy sector evolves, utilities face mounting challenges stemming from the integration of renewable energy, increasing grid complexity, and heightened resilience needs in the face of cyber threats and extreme weather. Traditional grid management methods are proving insufficient. This whitepaper, part of a four-paper series, explores the crucial role AI can play in revolutionizing grid management.

Highlighting Innovation at DISTRIBUTECH 2025

At DISTRIBUTECH 2025 in Dallas, GE Vernova will highlight its latest innovations in grid digitization and automation technologies, offering real-world solutions for grid reliability, security, and modernization. Experts will be available at Booth 3223 to discuss insights from the whitepapers and demonstrate how advanced digital and automation solutions can help utilities build a more resilient, future-ready energy network.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-driven global energy company encompassing Power, Wind, and Electrification sectors, supported by accelerator businesses. With over 130 years of tackling the world’s energy challenges, GE Vernova is uniquely positioned to lead the energy transition, continuing to electrify the world while working towards its decarbonization. GE Vernova helps customers power economies and deliver essential electricity vital for health, safety, security, and improved quality of life. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova operates in over 100 countries and employs approximately 75,000 people globally. Guided by its purpose, The Energy to Change the World, GE Vernova technology enables the delivery of a more affordable, reliable, sustainable, and secure energy future.

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• Saudi Engineers Successfully Lead Gas Turbine Overhaul at SEC’s 8th Power Plant in Riyadh
• First fully Saudi-led gas turbine maintenance project completed at SEC’s 8th power plant.
• Highly complex operation requiring specialized expertise, certifications, and hands-on experience.
• Strategic partnership advances Saudi Vision 2030, fostering local workforce development.

Riyadh, Saudi Arabia (March 24, 2025) – GE Vernova, Inc. (NYSE: GEV) and Saudi Electricity Company (SEC) have successfully completed a major gas turbine maintenance project, led entirely by Saudi engineers and specialists from GE Vernova. This milestone, achieved at SEC’s 8th power plant in Riyadh, reinforces both companies’ dedication to workforce localization and skill development in Saudi Arabia’s energy sector, in alignment with Vision 2030.

This success follows GE Vernova’s recent celebration, attended by HRH Prince Abdulaziz bin Salman, Minister of Energy, marking the completion of the first H-class gas turbine unit at the GE Saudi Advanced Turbines (GESAT) facility in Dammam.

Strategic Importance of SEC’s 8th Power Plant

Riyadh’s 8th power plant plays a critical role in meeting the city’s increasing electricity demands. With a capacity of over 1,700 megawatts, it enhances the stability of the region’s power grid. One of the facility’s blocks is powered by four GE Vernova 7F gas turbines, generating approximately 500 megawatts.

The maintenance, spearheaded by GE Vernova’s Gas Power One Field Services team in collaboration with SEC, was crucial to ensuring operational reliability. The project exemplifies the impact of years of technical training, certifications, and hands-on experience gained by Saudi engineers.

Expertise and Innovation in Maintenance Execution

The Saudi-led engineering team adhered to strict safety protocols and completed the project on schedule, utilizing GE Vernova’s Live Outage platform. This digital tool optimizes execution by standardizing procedures and improving safety compliance.

With extensive experience in power plant optimization, GE Vernova’s outage services team provided critical support, ensuring sustained efficiency and long-term reliability of power generation units. This initiative marks a significant step in enhancing Saudi Arabia’s technical self-sufficiency.

Strengthening Saudi Arabia’s Energy Sector

Engineer Abdulaziz Saeed Al-Shumaila, Head of Power Generation Operations at SEC, stated, “Ensuring a stable and reliable power supply is our priority. This project represents a new phase in Saudi Arabia’s power sector, highlighting our investment in local talent and innovation. Through our partnership with GE Vernova, we will continue empowering Saudi engineers to take on leadership and technical roles in the energy sector, contributing to Vision 2030.”

Hisham Al Bahkali, President of GE Vernova, Saudi Arabia, emphasized, “The successful maintenance of Riyadh’s 8th power plant showcases Saudi expertise in executing complex energy projects. This accomplishment reflects our ongoing collaboration with SEC to drive the Kingdom’s energy transition and nurture national competencies.”

He added, “This milestone follows a remarkable year for GE Vernova in Saudi Arabia, including the rollout of the first H-Class gas turbine at the GESAT facility. This advanced turbine will power the Jafurah Cogeneration Independent Steam and Power Plant (ISPP), supporting Saudi Arabia’s national energy goals.”

Advancing Decarbonization and Sustainability

In 2024, GE Vernova secured its largest Middle East & Africa order, comprising six 7HA.0³ gas turbines, two 7E.0³ units, and a 21-year maintenance agreement for Saudi Arabia’s Taiba 1 and Qassim 1 power plants. Additionally, the company completed FEED studies on decarbonization options for three cogeneration plants, exploring advanced CO₂ reduction technologies.

For nearly 90 years, GE Vernova has played a key role in Saudi Arabia’s energy infrastructure, contributing to economic diversification and talent development. With over 850 employees in the country, the company operates the GE Manufacturing and Technology Center (GEMTEC) in Dammam, home to a gas turbine Service and Repairs Center, the GE MENA Decarbonization Center of Excellence, and the GE Saudi Advanced Turbines (GESAT) facility.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a leading global energy company with Power, Wind, and Electrification segments, supported by accelerator businesses. With over 130 years of expertise, the company drives the energy transition by advancing electrification and decarbonization. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova has approximately 75,000 employees across 100+ countries.

GE Vernova’s Gas Power business engineers cutting-edge natural gas solutions, including SF₆-free technologies and g³-insulated systems, to support a lower-carbon energy future. As a global leader in gas turbine innovation and power plant services, the company continues shaping a more sustainable and resilient energy landscape.

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Powered by GE Vernova’s 9HA.01 combined cycle technology, the Pulau Indah power plant has officially commenced commercial operations. This 1,200 MW facility will receive ongoing maintenance services from GE Vernova under a 21-year agreement, ensuring long-term efficiency and reliability.

Designed with a modular, block-size configuration, GE Vernova’s system simplifies installation, operation, and maintenance, helping to streamline project execution while reducing costs.

A Milestone for Malaysia’s Energy Future

SELANGOR, Malaysia (March 13, 2025) – GE Vernova Inc. (NYSE: GEV) announced that Worldwide Holding Berhad (WHB) has successfully launched operations at the Pulau Indah power plant, located approximately 60 km from Kuala Lumpur. The two-block power facility, featuring GE Vernova HA combined cycle technology, is expected to generate electricity for around 2.5 million Malaysian households.

As Malaysia’s economy is projected to triple in the coming decades and its population surpass 40 million, the nation’s energy needs will rise significantly. Committed to achieving net-zero emissions by 2050, Malaysia continues to refine its long-term energy strategy in alignment with its National Energy Policy.

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High-Efficiency Technology with Hydrogen Capability

At the core of the facility are two 9HA gas turbines, designed for high operational flexibility. These turbines support fast ramp-up times, making them ideal for fluctuating demand. Additionally, the HA units can co-fire up to 50% hydrogen by volume when blended with natural gas, further supporting lower-carbon energy solutions.

Natural gas remains a key energy source in Malaysia due to its reduced CO₂ emissions compared to coal and its ability to complement renewable energy sources. Gas plants also offer operational flexibility, making them crucial for balancing energy supply and demand.

Cutting-Edge Monitoring and Control

GE Vernova supplied two 600 MW blocks, each featuring a 9HA.01 gas turbine, an STF-D650 steam turbine, a W88 generator, and a Once Through Heat Recovery Steam Generator (OT HRSG).

The plant’s performance will be continuously optimized using GE Vernova’s Mark* VIe Distributed Control System (DCS), enhancing asset visibility, reliability, and cost efficiency. Additionally, real-time data from sensors throughout the facility will be analyzed 24/7 at GE Vernova’s Monitoring & Diagnostics (M&D) Center in Greenville, SC, USA.

A Global Energy Leader Supporting Malaysia

“We are proud to integrate this power plant into our global fleet, which now includes 116 operational units with over 3 million commercial operating hours—enough capacity to power over 50 million U.S. homes,” said Ramesh Singaram, President and CEO of Asia, Gas Power, GE Vernova. “With over 40 years of experience and the largest installed base of gas turbines in Malaysia, GE Vernova is well-equipped to support the country’s energy transition and rising electricity demand.”

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a global energy leader encompassing Power, Wind, and Electrification segments, supported by its accelerator businesses. With over 130 years of expertise in tackling global energy challenges, GE Vernova is driving the transition to cleaner energy while ensuring worldwide electrification.

Headquartered in Cambridge, Massachusetts, USA, GE Vernova employs more than 80,000 professionals across 100+ countries. Its mission—The Energy to Change the World—guides its efforts to deliver affordable, reliable, and sustainable energy solutions.

GE Vernova’s Gas Power division is an industry leader in natural gas-powered technologies, offering advanced turbines, power plant solutions, and decarbonization technologies for a more sustainable energy future.

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LONDON, UK (March 13, 2025) – National Grid has officially awarded two segments of its £59bn High-Voltage Direct Current (HVDC) supply chain framework, securing essential works and equipment for major energy projects across the UK. Four key suppliers, including GE Vernova, have been selected under the HVDC Converter Framework, with contracts amounting to approximately £24.6bn. This agreement spans an initial five-year period, with an option for a three-year extension.

Read the complete press release here.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a globally focused energy company specializing in Power, Wind, and Electrification, supported by its accelerator businesses. With a legacy spanning over 130 years, GE Vernova continues to address global challenges, playing a crucial role in the energy transition by expanding electrification while advancing decarbonization efforts.

Dedicated to powering economies, GE Vernova provides essential electricity that supports health, security, and quality of life. Headquartered in Cambridge, Massachusetts, U.S., the company operates in more than 100 countries, employing approximately 75,000 professionals. Guided by its mission, *The Energy to Change the World*, GE Vernova is committed to fostering a more affordable, reliable, and sustainable energy landscape.

GE Vernova’s Grid Solutions division enhances power transmission and distribution through advanced grid technologies, contributing to a secure and decarbonized energy transition.

Forward-Looking Statements

This document includes forward-looking statements concerning future events, inherently involving varying degrees of uncertainty. These statements often address anticipated business and financial performance, product outcomes, service impact, and expected benefits. Phrases such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” and similar expressions typically indicate forward-looking statements. These projections may relate to planned transactions, investments, or macroeconomic influences on business operations, financial results, and global market conditions.

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MONTREAL, March 11, 2025 (GLOBE NEWSWIRE) — PyroGenesis Inc. (“PyroGenesis”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a leading technology company specializing in the design, development, and commercialization of advanced electric plasma solutions, has signed a memorandum of understanding (“MOU”) with GE Vernova’s Power Conversion & Storage business. This agreement, announced alongside GE Vernova’s latest press release, paves the way for a long-term strategic partnership focused on integrating PyroGenesis’ plasma torch technology into multi-megawatt industrial processes. The collaboration aims to replace fossil fuel combustion in high-temperature applications, particularly in industries such as aluminum, steel, cement, and quicklime production.

“This MOU marks a pivotal milestone in our mission to electrify emissions-intensive industries,” stated Ed Torres, Power Conversion & Storage Business Leader at GE Vernova. “Through this partnership, we are not only pushing forward our strategic vision but also reinforcing our commitment to sustainability. This initiative aligns with global carbon reduction goals and highlights our dedication to pioneering innovative solutions for a cleaner, more sustainable future.”

PyroGenesis’ President and CEO, P. Peter Pascali, emphasized the significance of this collaboration: “This partnership reflects the increasing demand for industrial electrification solutions that require multi-megawatt plasma torches exceeding 10 MW. Our recent client trials demonstrated that transitioning to PyroGenesis’ all-electric plasma torches offers substantial energy savings, with CO₂ reductions being a key environmental benefit. Additionally, using our plasma torches enables companies to consider smaller, more cost-effective furnace designs while achieving up to 30% higher production rates from the same operational footprint. These efficiency gains translate directly into improved revenue and profitability.”

Pascali further noted that PyroGenesis’ recent $27 million contract, announced on October 21, 2024, for the development of a 20MW plasma torch system exemplifies the industry’s shift toward electrification. “As companies increasingly recognize the benefits of adopting this technology, sophisticated electric power systems and controls—such as those provided by GE Vernova—will become essential.”

Under the agreement, PyroGenesis will supply the plasma torch systems while GE Vernova will provide the necessary electrical infrastructure.

Phase 1 of the collaboration involves a feasibility study on implementing and retrofitting PyroGenesis plasma torches with GE Vernova’s electrical infrastructure in a major iron ore pellet facility.

Phase 2 will focus on a similar study for a primary aluminum smelter casthouse.

PyroGenesis’ plasma torch technology plays a crucial role in its three-tier solution ecosystem, designed to address key economic drivers in heavy industry. The Energy Transition and Emission Reduction vertical focuses on replacing fossil fuel-based heating with electric plasma torches, significantly lowering energy costs and emissions. The other two verticals—Waste Remediation and Commodity Security & Optimization—further support industrial sustainability initiatives.

This collaboration between PyroGenesis and GE Vernova underscores the transformative potential of electrification in heavy industry, driving innovation and fostering a more sustainable global economy.

About PyroGenesis Inc.

PyroGenesis is a cutting-edge technology company that excels in designing, developing, manufacturing, and commercializing advanced plasma-based solutions. These innovations not only provide sustainable alternatives to conventional industrial processes but also significantly reduce greenhouse gas (GHG) emissions. The company has pioneered proprietary, patented plasma technologies, which are being evaluated and implemented by leading multinational corporations across four major sectors: iron ore pelletization, aluminum production, waste management, and additive manufacturing.

Operating from its headquarters in Montreal, PyroGenesis is supported by a team of skilled engineers, scientists, and technicians. The company maintains its technological edge through continuous innovation at its two production facilities, spanning 3,800 m² and 2,940 m², respectively. PyroGenesis’ commitment to excellence is reflected in its ISO 9001:2015 and AS9100D certifications, upheld since 1997.

PyroGenesis is publicly listed on multiple stock exchanges: the TSX in Canada (TSX: PYR), the OTCQX in the United States (OTCQX: PYRGF), and the Frankfurt Stock Exchange in Germany (FRA: 8PY).

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a globally recognized energy enterprise, dedicated to powering the future through its Power, Wind, and Electrification divisions, supported by strategic accelerator businesses. With over 130 years of expertise in addressing global energy challenges, GE Vernova is uniquely positioned to drive the energy transition, focusing on both electrification and decarbonization.

Committed to delivering essential electricity that enhances safety, security, and overall quality of life, GE Vernova operates in approximately 100 countries with a workforce of around 75,000 professionals. Headquartered in Cambridge, Massachusetts, U.S., the company operates under the mission “The Energy to Change the World,” striving to provide energy solutions that are affordable, reliable, sustainable, and secure.

The Power Conversion & Storage division of GE Vernova integrates advanced energy storage and conversion technologies, catering to the growing electrification demands of industries and utilities. By prioritizing power stability, energy storage, and industrial electrification, this division enables businesses to address complex energy challenges while advancing toward a decarbonized future.

Cautionary and Forward-Looking Statements

This press release contains “forward-looking statements,” which include projections, expectations, and assumptions about future events and performance. Terms such as “plans,” “targets,” “expects,” “anticipates,” “intends,” “believes,” and similar expressions often indicate forward-looking information. These statements reflect management’s current expectations and are subject to inherent uncertainties, risks, and evolving circumstances that may lead to actual outcomes differing significantly from those anticipated.

The assumptions underlying these statements are considered reasonable by PyroGenesis as of the release date. However, various risk factors, including those outlined under “Risk Factors” in PyroGenesis’ most recent annual report and other regulatory filings, could impact actual results. While the company strives for accuracy, no assurance can be given that these expectations will materialize. Therefore, reliance on forward-looking statements should be limited to their respective issuance dates.

PyroGenesis assumes no obligation to update or revise forward-looking statements unless required by law. Additionally, the Toronto Stock Exchange, its Regulation Services Provider, and the OTCQX Best Market do not take responsibility for the adequacy or accuracy of this release.

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• Cutting-Edge Technology Powers Over 50 Million U.S. Homes with 67 GW Capacity
• Company Expands Operations with $160 Million Investment in Greenville Facility to Meet Rising Demand

The H-Class gas turbine fleet from GE Vernova has now surpassed three million hours of commercial operation across 116 units worldwide. With a combined capacity of 67 gigawatts, these turbines generate enough electricity to power more than 50 million U.S. households. As the energy sector continues to evolve, GE Vernova remains committed to supporting the global transition to cleaner and more efficient power generation.

Leading the Future of Energy Generation

Since its introduction in 2016, the HA gas turbine fleet has consistently delivered exceptional performance, achieving record-breaking combined cycle efficiency. Over the years, this fleet has helped power plants enhance energy efficiency, lower emissions, phase out coal-fired plants, and integrate greater levels of renewable energy.

“The success of our HA fleet marks a significant milestone for the industry,” said Eric Gray, President & CEO of GE Vernova’s Gas Power division. “With strong collaboration from our customers, we continue to drive electrification and decarbonization forward. As more HA turbines come online, these achievements will accelerate, enhancing both service opportunities for GE Vernova and operational reliability for our clients.”

Enabling Decarbonization with Advanced Technologies

Beyond supporting global electrification efforts, GE Vernova’s HA gas turbines offer viable pathways to decarbonization. Pre-combustion solutions include hydrogen co-firing, with current capabilities allowing for up to 50% hydrogen blending with natural gas. Additionally, post-combustion strategies, such as carbon capture and sequestration, play a crucial role in reducing emissions. One notable example is the Net Zero Teesside Power project in the U.K., where GE Vernova’s 9HA.02 turbine will drive the world’s first large-scale gas-fired power station with integrated carbon capture technology.

Addressing Growing Energy Demands

With the surge in energy-intensive industries such as AI-driven data centers, the demand for reliable and large-scale electricity generation is increasing. Agreements with industry leaders like Chevron, NRG, and Kiewit demonstrate the broad appeal of HA turbines in meeting these evolving energy needs. According to the International Energy Agency (IEA), data center energy consumption could double by 2026, further underscoring the importance of efficient power generation solutions.

To support this rising demand, GE Vernova has committed over $160 million to expanding its Greenville, South Carolina, facility. This investment will enhance production capabilities, with plans to manufacture 70–80 heavy-duty gas turbines annually starting in late 2026 and shipping approximately 20 gigawatts of capacity each year beginning in 2027. The Greenville site remains GE Vernova’s largest gas turbine manufacturing facility and the HA Repairs Center of Excellence for the Americas, featuring the most advanced off-grid turbine validation facility globally.

GE Vernova: Powering a Sustainable Future

GE Vernova Inc. (NYSE: GEV) is a purpose-driven global energy company specializing in Power, Wind, and Electrification solutions. With over 130 years of innovation, the company plays a pivotal role in the global energy transition by advancing electrification while simultaneously reducing carbon emissions. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova operates in more than 100 countries, employing over 80,000 people worldwide.

As a leader in gas turbine technology and power plant services, GE Vernova continues to pioneer advanced, high-efficiency natural gas solutions alongside decarbonization initiatives. Guided by its mission—The Energy to Change the World—the company is committed to delivering sustainable, reliable, and affordable energy for a secure future.

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• 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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• Dominion Energy’s Bushy Park Combustion Turbine facility in South Carolina is now home to GE Vernova’s first globally operating LM6000VELOX* package.
• This advanced aeroderivative solution replaced older generation peaking units, improving reliability, flexibility, and efficiency in power supply.
• The LM6000VELOX package, which includes an LM6000* aeroderivative gas turbine and generator, comes factory-assembled into simplified modules for quicker and easier installation and commissioning.

ATLANTA, GA (February 13, 2025) – GE Vernova Inc. (NYSE: GEV) announced that Dominion Energy’s Bushy Park Combustion Turbine (Bushy Park CT) facility achieved commercial operation on November 1, 2024, in Berkeley County, South Carolina. The 52 megawatt** Bushy Park CT #1, powered by the LM6000VELOX* package, is the first LM6000VELOX package solution to be in operation worldwide.

Launched in 2023, the LM6000VELOX package was designed to reduce the installation and commissioning time for LM6000 aeroderivative gas turbines by up to 40%. This innovation helps lower costs and speed up the process, while also minimizing construction delays for power utilities, EPCs, and other industry players.

The new LM6000VELOX, along with two additional units for Dominion Energy’s Parr facility in Fairfield County, South Carolina, is replacing older peaking generation units. These units assist in meeting high energy demand periods and complement solar power when the sun isn’t fully available throughout the day. Both the Bushy Park and Parr units offer a variety of flexible operational features, including dual-fuel capabilities, fast-starting, synchronous condensing, and black start. GE Vernova also supplied selective catalytic reduction and oxidation catalyst systems, paired with dry low exhaust combustion, to ensure top-tier air emissions performance without relying on water injection.

Keller Kissam, President of Dominion Energy South Carolina, commented, “The start of commercial operation at Bushy Park reflects our ongoing commitment to delivering safe, reliable, and affordable energy to our communities. Investments in flexible and efficient units are essential to meet growing demands in one of the fastest-growing states, while supporting our extensive solar grid.”

Dave Ross, President and CEO of GE Vernova’s Gas Power division for the Americas, added, “This marks the first operation of this solution globally, and we’re proud to reach this milestone with Dominion Energy. This aeroderivative solution not only offers dispatchable power but also reduces carbon emissions compared to older units and provides essential black-start capability to restore power after blackouts.”

GE Vernova plays a key role in supporting Dominion Energy, helping meet the electricity needs of roughly 3.6 million customers across Virginia, South Carolina, and North Carolina.

With over 40 million operating hours and more than 1,300 units delivered, the LM6000 aeroderivative gas turbine remains a leader in the +40 MW market. In addition to the two LM6000VELOX packages currently being installed at Dominion Energy’s Parr facility, there are also ten units being installed at the Tennessee Valley Authority’s Johnsonville Aeroderivative Power Plant, slated to begin operations in 2025. Moreover, GE Vernova has announced the first LM6000VELOX solution to begin operating on 100% hydrogen at the Whyalla hydrogen power plant in Australia, expected in 2026.

Forward-Looking Statements

This document contains forward-looking statements, which discuss future events that are inherently uncertain. These statements often relate to GE Vernova’s expected business performance, financial outcomes, and product effectiveness. Phrases like “expect,” “anticipate,” “plan,” and “estimate” often signal forward-looking projections. Such statements address potential projects, investments, or transactions and may reflect the impacts of broader market and economic conditions on the company’s operations and financial standing.

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• Upgrades to 46 GE Vernova gas turbines across 12 power plants are projected to add over 500 megawatts (MW) to Iraq’s national grid by summer 2025.
• Advanced Gas Path (AGP) enhancements at Al Mansouriya, Al-Quds, and Dhiqar power plants have increased power capacity by 6%.
• Comprehensive maintenance and upgrade projects spanning multiple power plants have reinforced a total generation capacity of 3.7 gigawatts, enhancing long-term grid stability.

Baghdad, Iraq (February 5, 2025) — Iraq’s Ministry of Electricity (MoE) and GE Vernova Inc. (NYSE: GEV) have successfully advanced key power infrastructure projects, significantly improving the efficiency and capacity of Iraq’s energy sector. These upgrades align with the country’s broader strategy to modernize power generation and ensure a stable, reliable energy supply.

The large-scale modernization initiative covers 46 gas turbines at 12 power plants, with an expected contribution of up to 500 MW to the national grid by mid-2025. This effort enhances operational flexibility and improves efficiency, availability, and power output. Several plants—Ninawa, Al Diwaniyah, Hilla, Karbala, Shat Al Basra, Najibiya, Samawa, Dhiqar, Al Khairat, and Al Haidariya—have already transitioned from heavy fuel oil (HFO) to natural gas, increasing total capacity by approximately 260 MW. Additional modernization efforts at remaining plants are expected to further raise capacity by around 250 MW before the summer peak season.

Moreover, GE Vernova has completed the installation of Advanced Gas Path (AGP) upgrades on 9.E gas turbines at Al-Quds and Dhiqar power plants, alongside MXLII upgrades for 13E2 gas turbines at Al Mansouriya. These enhancements are projected to boost power output by up to 6%, allowing Iraq to generate more electricity with the same fuel input, optimizing energy efficiency.

Additionally, under the service and upgrade agreement signed in 2024 with the Ministry of Electricity, GE Vernova has finalized comprehensive maintenance programs at several power plants, including Qayyarah, Diwaniyah, Al-Haydariyah, and Baghdad South, supporting a total capacity of 3.7 gigawatts. These initiatives are key to enhancing Iraq’s power infrastructure reliability.

Eng. Ziyad Ali Fadhil, Iraq’s Minister of Electricity, stated: “These extensive modernization efforts play a crucial role in expanding our power generation capabilities and ensuring stable electricity supply, particularly during peak demand periods. The focus on efficiency improvements enables higher output without increasing fuel consumption, reducing carbon emissions per unit of energy produced. Partnering with globally recognized companies like GE Vernova is instrumental in achieving the Ministry’s long-term energy goals.”

Joseph Anis, President & CEO of Gas Power for Europe, the Middle East & Africa at GE Vernova, stated: “We take pride in our continued collaboration to advance the Ministry of Electricity’s strategic goals, enhancing power generation efficiency across Iraq while accelerating the country’s energy transition. The successful and timely execution of these projects aligns with GE Vernova’s commitment to modernizing Iraq’s energy infrastructure and delivering more efficient, sustainable energy solutions.”

In October 2024, GE Vernova announced the early completion and commissioning of five vital 132-kilovolt substations throughout Iraq. Additionally, on November 18, 2024, the Al Rasafa Center substation was successfully energized, more than two months ahead of the original timeline.

Earlier that year, in April 2024, GE Vernova formalized a Memorandum of Understanding (MoU) with the Iraqi government in Washington, D.C., coinciding with the visit of Prime Minister Mohammed Shia’ Al-Sudani to the United States. The agreement was signed under the patronage of Prime Minister Al-Sudani, with the presence of Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Swad, alongside Roger Martella, GE Vernova’s Chief Corporate Officer, Chief Sustainability Officer, and Head of Government Affairs.

Over the past decade, GE Vernova has played a pivotal role in strengthening Iraq’s energy infrastructure, contributing up to 19,000 megawatts to the national power grid. The company has also built 30 substations and completed the initial phase of Iraq’s electricity grid interconnection with Jordan. Additionally, GE Vernova has facilitated access to over USD 3 billion in energy project financing for Iraq and remains dedicated to fostering local talent development and workforce training initiatives.

Forward-Looking Statements

This document contains forward-looking statements, which discuss future events that inherently involve a degree of uncertainty. These statements often refer to GE Vernova’s anticipated business and financial performance, product efficiency, service impact, and projected outcomes. Common terms in such statements include “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” and “range.” Forward-looking statements inherently involve variables such as planned and potential transactions, investments, or projects, their projected outcomes, and the effects of macroeconomic conditions and market volatility on GE Vernova’s operations, financial results, and global supply chain dynamics.

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LONDON, UK (February 4, 2025) – GE Vernova’s nuclear division, GE Hitachi Nuclear Energy (GEH), has further advanced the deployment of its BWRX-300 Small Modular Reactor (SMR) in the UK by signing additional Memoranda of Understanding (MoUs) with two leading nuclear engineering firms—Boccard and Cavendish Nuclear.

These agreements reaffirm GEH’s commitment to deepening collaboration with UK-based suppliers, capitalizing on their extensive expertise in nuclear power plant construction and operations. This effort supports the ongoing selection process led by Great British Nuclear (GBN) for SMRs, reinforcing prior partnerships with Aecon, AtkinsRéalis, Jacobs, and Laing O’Rourke.

Andy Champ, UK Country Lead for GE Hitachi, stated: “These partnerships with Boccard and Cavendish Nuclear reinforce our dedication to integrating UK suppliers into the deployment of our BWRX-300 SMR technology. We are honored to collaborate with these industry-leading firms, demonstrating our commitment to providing the UK with scalable, cost-effective, and clean energy solutions. Drawing from our extensive collaboration with Ontario Power Generation (OPG) on the Darlington project in Canada, we are well-positioned to deliver this technology efficiently and affordably. We look forward to continuing our engagement with the UK supply chain and GBN to drive Britain’s clean energy ambitions forward.”

Douglas McQueen, Managing Director at Boccard UK, expressed enthusiasm about the partnership: “We are pleased to formalize our collaboration with GE Vernova through this MoU. Our fully digitalized nuclear manufacturing facility in North Wales, backed by our engineering and project management expertise, will contribute exceptional quality and efficiency to the UK’s Nuclear New Build program. Our proprietary digital manufacturing platform, BocTrack®, will enable a faster route to commercialization for both SMRs and large-scale GW Generating stations, which are vital to the UK’s decarbonization goals. We eagerly anticipate working with GE Vernova during this transformative period in the energy sector.”

Mick Gornall, Managing Director of Cavendish Nuclear, highlighted the strategic importance of this agreement: “We are delighted to strengthen our partnership with GEH, building on ongoing manufacturing studies to develop a resilient UK supply chain for the Reactor Pressure Vessel and other critical components.”

The collaboration with Cavendish Nuclear, a subsidiary of Babcock International, aligns with the UK Government’s Future Nuclear Enabling Fund. It builds on existing joint efforts supporting regulatory approval of the BWRX-300 through the Generic Design Assessment (GDA) process while advancing operational readiness and manufacturing innovations.

GEH, in partnership with OPG, is developing the first BWRX-300 at OPG’s Darlington site near Toronto, poised to become the first commercial SMR in the G7. Site preparation has been completed, with construction on the first unit expected to commence later this year, pending regulatory approval. Commercial operation is projected to begin by the end of 2029, with four 300 MW units planned for the site.

With a longstanding presence in the UK, GE Vernova continues to make a significant impact, operating four manufacturing facilities and powering over 30% of the country’s electricity with its technology. Committed to establishing a robust UK supply chain, GEH hosted an SMR supply chain conference in Sheffield in April 2024, attended by over 150 UK businesses.

Additionally, in January 2024, GEH secured a £33.6 million grant from the UK Department for Energy Security & Net Zero (DESNZ) through the Future Nuclear Enabling Fund (FNEF). This funding facilitated GEH’s entry into the GDA process for the BWRX-300, further solidifying its position in the UK’s nuclear energy landscape.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company specifically designed to drive the future of power, wind, and electrification. Supported by its accelerator businesses, it builds on over 130 years of innovation and expertise in solving global challenges. With a strong commitment to electrification and decarbonization, GE Vernova plays a pivotal role in the energy transition. The company powers economies and ensures access to electricity, a critical component of safety, security, health, and quality of life. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova operates in over 100 countries with a workforce of approximately 75,000. Guided by its mission, The Energy to Change the World, the company’s technologies contribute to a future that is more sustainable, secure, reliable, and affordable.

Nuclear Energy Solutions

Through its strategic alliance with Hitachi, GE Vernova is a global leader in nuclear energy, offering advanced reactor designs, nuclear fuel bundles, and a range of services. Its portfolio includes boiling water reactors and small modular reactors like the BWRX-300, an innovative yet streamlined design in the field. The company’s nuclear fuel division, Global Nuclear Fuel (GNF), leads in supplying fuel for boiling water reactors and providing engineering support. Operated as a joint venture with Hitachi, Ltd., GNF functions through Global Nuclear Fuel-Americas, LLC, based in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd., located in Kurihama, Japan.

A Name Rooted in Innovation

The name GE Vernova reflects both its heritage and future vision. “GE” symbolizes a long-standing reputation for quality and ingenuity, while “Ver” and “Verde” evoke the planet’s lush, thriving ecosystems. “Nova,” derived from the Latin novus, signals a forward-looking approach to low-carbon energy solutions.

Forward-Looking Statements

This document includes forward-looking statements, which pertain to future events and are inherently uncertain. Such statements often discuss GE Vernova’s anticipated business performance, financial outlook, product effectiveness, and service impact. They may include terms such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “forecast,” “target,” and similar expressions. Forward-looking statements involve varying degrees of uncertainty, covering areas such as memoranda of understanding, contract negotiations, project proposals, investment impacts, regulatory approvals, and market conditions. These factors, alongside broader economic fluctuations, may influence GE Vernova’s operations, financial results, and global supply chain dynamics.

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Ambitious Plans to Deliver Up to Four Gigawatts of Energy for AI-Driven Growth

NEW YORK & HOUSTON (January 28, 2025) – Engine No. 1 and Chevron U.S.A. Inc. (NYSE: CVX) have joined forces to establish a new venture aimed at providing scalable and dependable energy solutions for U.S.-based data centers powered by domestic natural gas. Early strategic moves by the Trump Administration are laying the groundwork to harness America’s energy wealth, reinforcing the nation’s leadership in artificial intelligence (AI). Partnering with GE Vernova (NYSE: GEV), the initiative plans to launch the first multi-gigawatt co-located power plant and data center during President Trump’s second term.

Innovative “Power Foundries” to Drive AI Expansion

The first projects—termed “power foundries”—will deploy seven domestically manufactured GE Vernova 7HA natural gas turbines under a secured slot reservation agreement, accelerating their implementation. These projects are set to supply co-located data centers across the U.S. Southeast, Midwest, and West. By bypassing the existing transmission grid in initial phases, this approach aims to mitigate risks of increased electricity costs for consumers.

Meeting the Surging Demand for Reliable Power

This initiative directly addresses the need for cost-effective and stable energy to support the massive electricity demands of AI-driven data centers. The joint development aims to supply up to four gigawatts (GW) of energy—enough to power approximately 3 to 3.5 million homes—with initial operations targeted by the end of 2027. There is also potential for expansion beyond this capacity. The infrastructure will be designed with adaptability in mind, allowing for the integration of lower-carbon technologies, including carbon capture and storage (CCS). This system has the potential to capture over 90% of the CO₂ emissions from the turbines while incorporating renewable energy sources.

Leadership Perspectives on the Partnership

Chris James, founder and chief investment officer of Engine No. 1, stated: “Energy is fundamental to maintaining America’s dominance in AI. By leveraging abundant domestic natural gas to generate electricity directly linked to data centers, we can secure AI leadership, drive economic growth, and reaffirm America’s status as an industrial powerhouse. Our partnership with Chevron and GE Vernova is a crucial step toward overcoming major energy challenges.”

Mike Wirth, CEO and chairman of Chevron Corporation, added: “We are honored to contribute to President Trump’s vision of a new era of American prosperity, fueled by our vast energy reserves and an exceptional workforce. His commitment to energy security and AI dominance reassures our investment in projects that will generate jobs and enhance national security.”

Scott Strazik, CEO of GE Vernova, emphasized: “We are excited to support data center growth in the U.S. by delivering essential power solutions through innovative technologies. As a leading American energy manufacturer, GE Vernova is uniquely positioned to make this large-scale effort a reality.”

Future Impact on the Energy Landscape

The rapid expansion of digital technologies—such as cloud computing, AI solutions, and rising data consumption—demands efficient and scalable energy solutions. Over time, this model is designed to supply surplus electricity to the U.S. grid through future interconnects, supporting broader energy requirements while maintaining cost efficiency.

Beyond delivering affordable and dependable power to a rapidly expanding sector, this collaboration is expected to generate thousands of jobs and contribute to the U.S.’s industrial resurgence.

About the Partners

Engine No. 1 – An investment firm focused on building and funding companies that contribute to the U.S. reindustrialization.

Chevron – One of the world’s foremost integrated energy companies, dedicated to producing affordable, reliable, and progressively cleaner energy. The company is engaged in oil and gas production, refining, and the development of low-carbon solutions like CCS, renewable fuels, and hydrogen technologies.

GE Vernova – A purpose-driven global energy company specializing in Power, Wind, and Electrification. With over 130 years of experience, GE Vernova plays a pivotal role in global energy transition by advancing electrification and decarbonization efforts. Headquartered in Cambridge, Massachusetts, with around 75,000 employees in over 100 countries, it continues to deliver sustainable and secure energy solutions. More information is available at: [www.gevernova.com](http://www.gevernova.com).

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CAMBRIDGE, Ontario (January 27, 2025) – GE Vernova’s nuclear division, GE Hitachi Nuclear Energy (GEH), has awarded a contract to BWX Technologies, Inc. (BWXT) to produce the reactor pressure vessel (RPV) for the inaugural BWRX-300 small modular reactor, set for construction at Ontario Power Generation’s Darlington New Nuclear Project site.

The RPV, the most substantial component of the BWRX-300, plays a critical role in the reactor’s functionality. Previously, GEH engaged BWXT for engineering analysis, design assistance, and procurement preparations related to the RPV. BWXT became the first member of GEH’s qualified supplier network for the BWRX-300.

“The production of the first BWRX-300 reactor pressure vessel is a pivotal step in advancing this technology,” stated Lisa McBride, Canada Country Leader at GEH. “Collaborating with BWXT enables us to push this project forward while also supporting Ontario’s manufacturing sector.”

Early site preparations at Darlington are complete, with construction of the first unit anticipated to begin later this year, subject to regulatory approval. Commercial operations are expected to launch by the end of 2029. The project envisions a total of four units at the site. The partnership between OPG and GEH integrates OPG’s extensive nuclear operations expertise with GEH’s advanced boiling water reactor technology, fostering a significant energy initiative in Ontario.

The BWRX-300, a next-generation boiling water reactor, forms a cornerstone of GE Vernova’s leadership in the energy sector. Designed to provide dependable electricity, it incorporates certified nuclear fuel, plant simplifications, and proven components to optimize construction and operational costs. Its design, based on an NRC-certified reactor, builds upon decades of experience in boiling water reactor operations, ensuring efficiency and reliability. Moreover, it leverages a standardized approach, a well-established delivery model, and GEH’s expertise in regulatory collaboration across borders.

About GE Vernova

GE Vernova (NYSE: GEV) is a globally focused energy enterprise comprising Power, Wind, and Electrification segments, reinforced by its accelerator businesses. With a legacy spanning over 130 years, GE Vernova remains dedicated to advancing the energy transition by enhancing global electrification while driving decarbonization. The company’s technologies enable economic growth and ensure the availability of vital electricity for health, security, and overall quality of life. Headquartered in Cambridge, Massachusetts, U.S., GE Vernova employs approximately 75,000 individuals across 100+ countries. Guided by its mission, *The Energy to Change the World*, GE Vernova strives to create a future of energy that is more affordable, sustainable, and secure.

Through its strategic alliance with Hitachi, GE Vernova’s Nuclear division is a leader in nuclear fuel development, reactor design, and engineering services. Its technologies include boiling water reactors and small modular reactors, including the BWRX-300—one of the industry’s most advanced and streamlined designs. The company’s nuclear fuel segment, Global Nuclear Fuel (GNF), is a leading provider of boiling water reactor fuel and engineering services. Operated as a joint venture with Hitachi, Ltd., GNF primarily functions through Global Nuclear Fuel-Americas, LLC in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd. in Kurihama, Japan.

GE Vernova’s name encapsulates its vision—*GE* stands as a symbol of ingenuity and excellence, while *Ver* and *verde* reference the planet’s natural vitality. *Nova*, derived from the Latin “novus,” signifies a new era of low-carbon innovation.

Forward-Looking Statements

This document contains forward-looking statements that pertain to future events and inherently involve varying levels of uncertainty. Such statements may discuss GE Vernova’s anticipated business performance, product expectations, service impacts, and financial outlook. These projections frequently include terms such as “expect,” “anticipate,” “plan,” “believe,” “seek,” “will,” “estimate,” and similar expressions. As forward-looking statements address aspects that are uncertain by nature, they may cover topics such as partnership agreements, project proposals, government approvals, market conditions, and economic volatility. These factors could influence GE Vernova’s operations, financial performance, and supply chain dynamics on a global scale.

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The Tennessee Valley Authority (TVA) has selected Bechtel, Sargent & Lundy, and GE Hitachi (GEH) to develop a cost estimate and schedule for a potential small modular reactor (SMR) at the Clinch River Nuclear site in Tennessee. The initiative follows a rigorous selection process aimed at ensuring efficiency and innovation in nuclear power generation.

The project will leverage an integrated project delivery (IPD) model, which streamlines collaboration by aligning all stakeholders under a unified plan. This method promotes cost control, risk-sharing, and timely execution.

A Collaborative Effort for Nuclear Innovation

Unlike traditional nuclear projects in the U.S., this effort will involve TVA, Bechtel, Sargent & Lundy, and GEH working as a cohesive unit to plan, design, and potentially procure, construct, and commission Clinch River Unit 1. By adopting the IPD approach, TVA seeks to enhance project coordination and optimize resource management.

Bob Deacy, Senior Vice President of the TVA Clinch River Project, emphasized the advantages of this approach: “The integrated project delivery model ensures true teamwork. By working toward a shared budget and schedule, we can drive nuclear innovation, minimize costs, and provide our region with clean, reliable, and affordable energy.”

Ontario Power Generation (OPG), TVA’s technology collaboration partner, has successfully implemented the IPD model in multiple generation projects, including its SMR initiative at Darlington in Ontario, Canada.

Leveraging Expertise in Nuclear Construction

Bechtel, a long-time TVA partner, brings extensive experience in nuclear infrastructure, including the completion of Watts Bar Unit 2 in 2016. Ahmet Tokpinar, General Manager of Bechtel’s Nuclear Power division, highlighted the company’s commitment to innovation: “We are honored to be part of this significant project and are eager to apply our expertise and advanced technologies to deliver new nuclear power solutions.”

TVA is also collaborating closely with GEH, OPG, and Synthos Green Energy to develop a standardized design for the BWRX-300. Sargent & Lundy will take the lead on site-specific engineering for the reactor’s potential deployment at Clinch River.

“This marks a pivotal step toward expanding carbon-free nuclear energy in the U.S.,” said Victor Suchodolski, Chairman, President, and CEO of Sargent & Lundy. “With decades of experience, we are proud to strengthen our 40-year partnership with TVA and contribute to this important initiative.”

Scaling SMR Deployment

TVA is exploring the possibility of multiple SMR units at the Clinch River site. The IPD team will assess cost-saving innovations to support future reactor deployments, ensuring a structured progression toward affordable nuclear energy expansion.

Sean Sexstone, Executive Vice President of Advanced Nuclear at GE Hitachi Nuclear Energy, underscored the significance of the partnership: “TVA is assembling a world-class team to spearhead BWRX-300 deployment at Clinch River. Together, we bring deep expertise in nuclear energy and large-scale projects, advancing TVA’s mission to meet growing energy demands with secure, reliable power.”

Next Steps

The project has entered the validation phase, during which TVA, Bechtel, Sargent & Lundy, and GEH will refine cost estimates and scheduling. A multi-party agreement is expected to be negotiated to establish incentives for maintaining financial and scheduling targets. This phase is projected to last 1-2 years.

TVA’s Board has yet to approve SMR construction at Clinch River. The phased approach ensures that each stage undergoes careful evaluation, aligning with TVA’s structured decision-making process before advancing to further development.

About TVA

The Tennessee Valley Authority (TVA) is the largest public power provider in the United States, supplying electricity to 10 million residents across seven southeastern states. Founded 90 years ago, TVA was created to address regional and national challenges through innovative solutions. Its mission encompasses energy production, environmental responsibility, and economic development. With a vast and diverse energy portfolio—including nuclear, hydro, solar, gas, and advanced technologies—TVA plays a pivotal role in driving the country toward a cleaner energy future.

As a corporate agency of the U.S. government, TVA operates without taxpayer funding, generating nearly all revenue through electricity sales. Beyond maintaining and investing in its power infrastructure, TVA supports flood control, navigation, and land management along the Tennessee River system. Additionally, TVA collaborates with local utilities and governments to foster economic growth and job creation.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy enterprise comprising Power, Wind, and Electrification segments, bolstered by accelerator businesses. With over 130 years of experience tackling global challenges, GE Vernova is at the forefront of the energy transition—simultaneously electrifying the world and working to decarbonize it. The company provides essential electricity that drives economies and enhances public health, safety, and security. Headquartered in Cambridge, Massachusetts, GE Vernova operates in more than 100 countries with approximately 75,000 employees worldwide.

Through its nuclear energy division and global alliance with Hitachi, GE Vernova is a leading provider of nuclear fuel, services, and advanced reactor technologies. This includes boiling water reactors and small modular reactors like the BWRX-300, one of the most innovative and simplified boiling water reactor designs. The company’s nuclear fuel division, Global Nuclear Fuel (GNF), is a top supplier of boiling water reactor fuel and engineering services. GNF, a GE Vernova-led joint venture with Hitachi, Ltd., operates primarily through Global Nuclear Fuel-Americas in Wilmington, N.C., and Global Nuclear Fuel-Japan in Kurihama, Japan.

GE Vernova’s name reflects its mission: “GE” represents its legacy of quality and innovation, while “Ver” and “verde” signify the Earth’s thriving ecosystems. “Nova,” derived from the Latin “novus,” symbolizes a new era of low-carbon energy solutions.

About Bechtel

Bechtel is a globally trusted partner in engineering, construction, and project management for both industry and government. Recognized for its talented workforce and commitment to delivering successful results, Bechtel tailors its expertise to meet client goals, fostering long-term positive impacts. Since its founding in 1898, Bechtel has completed over 25,000 projects in 160 countries across all seven continents. These projects have generated employment, strengthened economies, enhanced infrastructure resilience, expanded energy access, and contributed to a safer, cleaner world.

Bechtel operates across multiple sectors, including Energy, Infrastructure, Manufacturing & Technology, Mining & Metals, and Nuclear, Security & Environmental services. The company provides end-to-end solutions, from initial planning and investment to project execution and operations.

About Sargent & Lundy

Sargent & Lundy is among the world’s most established full-service architectural engineering firms. Founded in 1891, it has earned a reputation as a global leader in power, energy, and decarbonization. The firm’s expertise spans grid modernization, renewable energy, energy storage, nuclear power, conventional power, environmental solutions, carbon capture, and hydrogen.

Delivering comprehensive project services—from consulting and design to construction management and operations—Sargent & Lundy prioritizes quality and safety. The firm serves public and private clients across various industries, including power, energy, gas distribution, industrial, and government sectors.

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• Tennessee Valley Authority Leads $800 Million Grant Application for SMR Program
• Duke Energy and American Electric Power Commit to Supporting BWRX-300 Standard Design and Licensing

WILMINGTON, NC (January 17, 2025) – GE Vernova’s nuclear division, GE Hitachi Nuclear Energy (GEH), announced its participation in a coalition aiming to accelerate the deployment of its BWRX-300 small modular reactor (SMR) technology in the U.S.

Headed by the Tennessee Valley Authority (TVA), the coalition has applied for $800 million in funding through the U.S. Department of Energy’s Generation III+ SMR program. This diverse group includes Bechtel, BWX Technologies (BWXT), Duke Energy, Electric Power Research Institute (EPRI), Indiana Michigan Power (an AEP subsidiary), Oak Ridge Associated Universities, Sargent & Lundy, Scot Forge, other utility partners, advanced nuclear developers, and the State of Tennessee.

Scott Strazik, CEO of GE Vernova, emphasized the importance of nuclear energy: “Nuclear power is vital for a cleaner and more secure energy future. Securing this grant would be a critical milestone, and we are eager to collaborate with TVA and our strong network of partners to bring SMRs to fruition across the U.S.”

The BWRX-300 has been selected by TVA for possible installation at the Clinch River site near Oak Ridge, Tennessee. If awarded DOE funding, construction of the first SMR unit could be expedited by two years, targeting commercial operation by 2033.

Jeff Lyash, TVA President and CEO, highlighted the technology’s significance: “Nuclear energy remains the most reliable and efficient power source globally. With a robust American-based supply chain, it will serve as a foundation for fueling the global economy.”

In addition, GEH disclosed that Duke Energy has agreed to invest in efforts to advance the standard design and licensing of the BWRX-300. American Electric Power (AEP) has also selected this SMR technology for potential deployment at its Indiana Michigan Power Rockport Plant in Spencer County, Indiana, pending approval of DOE funding.

Maví Zingoni, CEO of GE Vernova’s Power businesses, noted industry momentum: “Following significant progress at Ontario Power Generation’s (OPG) Darlington site, these announcements reflect growing confidence in the BWRX-300’s capabilities.”

Expanding Global Momentum for the BWRX-300

In March 2023, a collaboration between OPG, TVA, and Synthos Green Energy joined GEH’s technical partnership to co-fund the design of the BWRX-300. This initiative aims to ensure the design meets regulatory standards across multiple jurisdictions.

OPG’s partnership with GEH combines its strong history in nuclear energy with GEH’s expertise in boiling water reactor technology. Together, they aim to deploy the first BWRX-300 at the Darlington site near Toronto, Canada. Early site preparation is complete, and construction is scheduled to begin this year, with commercial operation planned by the end of 2029. The Darlington site will ultimately host four units.

About the BWRX-300 Design

As a 10th-generation nuclear reactor, the BWRX-300 is central to GE Vernova’s commitment to energy transition leadership. Designed to support decarbonization efforts, it integrates certified nuclear fuel, proven components, and streamlined plant designs to minimize construction and operational costs. This SMR leverages decades of boiling water reactor expertise, a standardized design, and a proven delivery model, ensuring scalability and regulatory compatibility across borders.

With its innovative approach, the BWRX-300 positions itself as a key technology for advancing clean, reliable energy globally.

About GE Vernova

GE Vernova (NYSE: GEV) is a global energy company designed to drive progress in the energy transition. It encompasses Power, Wind, and Electrification segments, supported by its accelerator businesses. With a legacy of over 130 years addressing global challenges, GE Vernova is uniquely positioned to advance electrification worldwide while striving to decarbonize energy systems. The company plays a vital role in powering economies and ensuring access to electricity, which is essential for health, safety, security, and an improved quality of life. Headquartered in Cambridge, Massachusetts, GE Vernova employs approximately 75,000 people across more than 100 countries. Guided by its mission, The Energy to Change the World, GE Vernova delivers innovative technologies to ensure an affordable, sustainable, and reliable energy future.

GE Vernova’s Nuclear energy division, in partnership with Hitachi, is a leading global provider of advanced nuclear reactor designs, nuclear fuel bundles, and related services. Its technologies include boiling water reactors (BWRs) and cutting-edge small modular reactors like the BWRX-300, recognized for its simplicity and innovation. The nuclear fuel operations, managed under the Global Nuclear Fuel (GNF) joint venture with Hitachi, Ltd., supply BWR fuel and engineering services. These operations are conducted primarily through Global Nuclear Fuel-Americas, LLC, in Wilmington, N.C., and Global Nuclear Fuel-Japan Co., Ltd., in Kurihama, Japan.

The name GE Vernova reflects the company’s heritage and forward-looking mission. The “GE” symbolizes a legacy of quality and innovation, while “Ver” and “verde” evoke the planet’s vibrant ecosystems. “Nova,” derived from the Latin word “novus,” signifies a new era of groundbreaking, low-carbon energy solutions.

Forward-Looking Statements

This document includes forward-looking statements related to future events, inherently involving varying degrees of uncertainty. These statements often pertain to GE Vernova’s anticipated business performance, financial outlook, product capabilities, and service impacts. Terms such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “will,” “would,” “estimate,” “forecast,” and “target” frequently appear in such discussions. Forward-looking statements address topics like memoranda of understanding, potential contracts and projects, bidding and government review processes, and anticipated outcomes of investments. Additionally, they encompass the influence of macroeconomic trends, market conditions, and supply chain disruptions on the company’s operations, financial results, and global economy.

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GE Vernova, a global leader in combustion innovation, is driving efforts to lower carbon emissions in its B- and E-Class gas turbine portfolio by advancing hydrogen combustion solutions.

The company has validated its Dry Low NOx (DLN) combustor technology, capable of operating on natural gas, hydrogen blends, and even 100% hydrogen. During tests at the Global Technology Center in Greenville, SC, emissions remained below 25 ppm NOx. GE Vernova targets commercial availability of the 100% hydrogen DLN solution for both new and existing B- and E-Class gas turbines by 2026.

Commitment to Decarbonization

With over 120 turbines already running on hydrogen-containing fuels and generating 530 TWh across 8.5 million hours of operation, GE Vernova reinforces its dedication to reducing carbon footprints. “This advancement represents a significant step towards decarbonizing our industrial gas turbine fleet,” said Jeremee Wetherby, Carbon Solutions leader at GE Vernova.

Engineering Breakthroughs in Hydrogen Combustion

Hydrogen’s unique properties, including a flame speed nearly eight times faster than natural gas, present engineering challenges like flashback risk. GE Vernova’s tests showcased stable operation of the DLN technology across a variety of fuel combinations, from pure natural gas to 100% hydrogen. Additionally, noise levels remained low, even during hydrogen-only operation, ensuring reliable performance for industrial clients who depend on gas turbines for uninterrupted power.

Innovative Micromixer Design

A pivotal element of this breakthrough is the micromixer-based fuel-air premixer, a technology under development since 2005 in collaboration with the US Department of Energy. Already integrated into GE Vernova’s H-Class turbines, recent advancements have enhanced its hydrogen capabilities. A full-scale 6B DLN combustor prototype was rigorously tested under real-world conditions, proving the system’s readiness for deployment.

Advantages Over Existing Systems

Compared to current combustors, which require diluents like water to reduce emissions, the new H₂ DLN technology offers numerous benefits:

• Eliminated need for diluents
• 4–7% improvement in combined cycle heat rate
• Enhanced availability and extended maintenance intervals
• Reduced NOx emissions

Future-Ready Hydrogen Solutions

Jeremee Wetherby concluded, “This successful validation demonstrates our commitment to providing B- and E-Class turbine operators with flexible fuel options, from natural gas to hydrogen blends, without relying on diluents for emissions control.”

With an installed base of approximately 2,800 B- and E-Class turbines worldwide, GE Vernova continues to lead the industry in cleaner, more efficient power solutions.

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Advanced Gas Turbines from GE Vernova Power New 2 GW Power Plant in China

GE Vernova has supplied three cutting-edge 9HA.01 heavy-duty gas turbines to the Guangming power plant, owned by Shenzhen Energy Group Corporation.

Supporting China’s Energy Transition Goals

Shenzhen, Guangdong Province, China (January 9, 2025) – GE Vernova Inc. (NYSE:GEV) and Harbin Electric have announced the successful launch of commercial operations at the Guangming power plant in Shenzhen’s Guangming district, Guangdong province. Utilizing three GE Vernova 9HA.01 gas turbines, this facility is designed to generate up to 2 GW of electricity, serving the region’s 127 million residents.

Aligned with China’s commitment to peak carbon emissions by 2030 and achieve carbon neutrality by 2060, the Guangming plant is part of the nation’s strategy to reduce coal reliance and accelerate the development of efficient gas-powered combined cycle plants. The project aligns with energy reforms in the Greater Bay Area, promoting a transition from coal to cleaner energy sources.

Two Decades of Collaboration

For over 20 years, GE Vernova and Shenzhen Energy Group have partnered to meet growing electricity demands while advancing a low-carbon energy system in Guangdong. The H-Class turbines offer high electrical output with superior flexibility and efficiency, ensuring reliability for the densely populated province.

“Natural gas generators have the lowest CO₂ emissions among fossil fuels, making them essential for countries like China that need scalable solutions to transition from coal while maintaining supply reliability,” stated Xu Xin, President of GE Vernova Gas Power China Services. “Through our advanced HA technology, we enable operators like Shenzhen Energy Group to achieve lower emissions and greater efficiency compared to older coal plants.”

Innovative Hydrogen Capabilities

GE Vernova’s 9HA.01 gas turbines can burn up to 50% hydrogen by volume when blended with natural gas, offering a future path toward reduced carbon emissions.

Harbin Electric’s Role in the Project

Harbin Electric provided steam turbines and generators, while the 9HA.01 gas turbines were supplied through the General Harbin Electric Gas Turbine (Qinhuangdao) Co., Ltd joint venture, established in 2019. This partnership enhances the localization of heavy-duty gas turbines, optimizing efficiency and reliability for China’s power plants.

GE Vernova’s Legacy in China

With a 40-year history in China, GE Vernova has delivered innovative solutions to its gas power customers, supporting the country’s energy transition. Serving more than 110 clients and over 240 turbines with an installed capacity of 50 GW, GE Vernova’s achievements include six HA projects featuring 13 9HA turbines, delivering nearly 10 GW of capacity.

Forward-Looking Statements

This document includes forward-looking statements about GE Vernova’s anticipated business and financial performance, product capabilities, and potential market impacts. These projections involve uncertainties tied to economic conditions, market volatility, and global supply chains.

Building a Strong Partnership

GE Vernova and Harbin Electric have solidified their collaboration over decades, starting with the establishment of the Qinhuangdao Energy Service Center in 2004. The joint venture in 2017 further deepened their strategic partnership, focusing on gas turbine manufacturing and maintenance to enhance responsiveness to customer needs and reduce costs.

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GE Vernova is committing USD$20 million to enhance repair capabilities and technologies for its High Efficiency, Air-Cooled (HA) gas turbines at its Advanced Manufacturing Repair Technology (AMRT) Center in Singapore. Supported by the Singapore Economic Development Board (EDB), this investment aims to position the Global Repair Service Center in Singapore as a leader in turbine repair innovation.

This project will introduce advanced robotic technologies integrated with AI and lean methodologies, boosting the repair efficiency of HA gas turbine hot gas path components. Additionally, over 100 technical roles will be created to support these innovative developments.

Strengthening Regional Capabilities

Announced on January 6, 2025, during a signing ceremony, this initiative builds on GE Vernova’s 2019 pledge to invest up to USD$60 million over a decade to establish the Singapore facility as a global leader in power generation technology. The signing was attended by key representatives, including Scott Strazik, GE Vernova’s CEO, Png Cheong Boon, EDB Chairman, and Cindy Koh, EDB’s Executive Vice President.

“Gas power will play a pivotal role in this decade, and with Asia’s growing turbine base, this investment ensures the region’s needs are met with groundbreaking repair solutions,” said Ramesh Singaram, President and CEO of GE Vernova’s Gas Power Asia. “Owners of HA gas turbines will benefit from reduced lead times and improved delivery of repair components. This collaboration between Singapore and GE Vernova marks a crucial step in driving innovation and supporting the region’s power demands.”

Currently, over one-third of GE Vernova’s HA gas turbines are based in or on order for the region. With Asia’s continued growth, this percentage is projected to rise significantly.

Supporting Decarbonization Goals

GE Vernova’s HA gas turbines and H-Class Combined Cycle power plants are designed to align with global decarbonization efforts. These turbines can already burn up to 50% hydrogen by volume when blended with natural gas, with plans to achieve 100% hydrogen capability in the coming decade. The technology’s flexibility and responsiveness make it an ideal complement to renewable energy sources, ensuring reliable power generation.

Cindy Koh, EDB’s Executive Vice President, emphasized Singapore’s commitment to fostering advanced manufacturing ecosystems: “GE Vernova’s investment in cutting-edge repair technologies underscores our ability to support innovative manufacturing processes. Singapore remains dedicated to advancing its capabilities to meet the demands of global leaders like GE Vernova.”

Global Excellence in Turbine Repairs

The Singapore facility now ranks among GE Vernova’s largest turbine repair centers globally, with specialized expertise in HA gas turbines. While the Singapore center leads in the Asia region, GE Vernova’s Greenville facility in the United States continues to serve as the company’s largest manufacturing site and HA Repairs Center of Excellence for the Americas.

This investment not only reinforces Singapore’s role as a hub for advanced manufacturing but also highlights GE Vernova’s commitment to developing sustainable energy solutions and supporting the energy needs of a growing Asia.

Signing ceremony picture (left to right):
EDB Officials: Stanley Toh, Senior Associate, Mobility & Industrial Solutions (M&I), EDB; Teo Yi Yun, Senior Manager, M&I, EDB; Lim Tse Yong, SVP & Head, (M&I), EDB; Cindy Koh, Executive VP Advanced Manufacturing, EDB; Png Cheong Boon, Chairman, EDB; GE Vernova officials: Scott Strazik, CEO, GE Vernova; Ramesh Singaram, President & CEO, Gas Power Asia, GE Vernova; Zoltan Horvath, Global Supply Chain Development Leader, Gas Power, GE Vernova; Dominic Ang, Executive Plant Director, GRSS, GE Vernova; Venkat Kannan, President Commercial, APAC & China, Gas Power Asia, GE Vernova.

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• GE Vernova has been chosen to supply an advanced HVDC system for the 500 kV Donghaean #2 to Dong-Seoul HVDC converter station project (EP2), a key element of South Korea’s largest power grid initiative. This project is a significant part of the nation’s ambitious 4 GW HVDC transmission link.
• The order was secured through KAPES, the joint venture formed between GE Vernova and Korea Electric Power Corporation (KEPCO). The advanced HVDC system, utilizing Line Commutated Converter (LCC) technology, will support reliable power transmission and facilitate South Korea’s energy transition by integrating renewable sources into the grid.

Seoul, South Korea (December 23, 2024) — GE Vernova Inc. (NYSE: GEV) announced today that its joint venture, KAPES, has been selected by Korea Electric Power Corporation (KEPCO) to supply a cutting-edge High Voltage Direct Current (HVDC) system based on LCC technology for the Donghaean #2 to Dong-Seoul HVDC converter station (EP2) project. This part of a larger 4 GW HVDC transmission link is designed to connect South Korea’s east coast power generation complex to the Seoul metropolitan area, representing the country’s largest power grid project to date.

In addition to the EP2 project, GE Vernova is also executing the EP1 project through KAPES. Together, these two projects will ensure a stable and reliable power supply for the Seoul area, which consumes approximately 40% of South Korea’s total energy. Both projects will benefit from GE Vernova’s innovative HVDC technology, which enables efficient long-distance power transmission and enhances the grid’s resilience to meet the growing energy demands.

For the EP2 project, GE Vernova’s responsibilities include the engineering and delivery of HVDC Valves and Control Systems based on LCC technology, which are critical for stable power transmission over long distances. The project highlights the increasing demand for GE Vernova’s solutions within the Electrification segment, a rapidly expanding part of the company.

KEPCO’s Vision for a Sustainable Energy Future

KEPCO has recognized the crucial role of advanced HVDC technology in South Korea’s energy transition. The EP2 project is designed to provide efficient and reliable power transmission to key industrial regions, laying the foundation for a sustainable and resilient energy network.

Yu-won Kang, CEO of KAPES, said, “The EP2 project strengthens KAPES’ position as a leader in HVDC technology in Korea, thanks to our collaboration with GE Vernova. This project highlights our technological expertise and project management capabilities. KAPES is committed to supporting KEPCO in South Korea’s energy transition and ensuring the stability of the national power grid.”

Johan Bindele, Business Leader at GE Vernova’s Electrification Systems, remarked, “Our Electrification segment is experiencing rapid growth, with much more to come. We are dedicated to providing innovative solutions that help electrify and decarbonize the world, particularly in Asia, where electrification is crucial for a sustainable energy future. Our long-standing partnership with KEPCO—spanning 26 years—demonstrates our shared commitment to advancing power infrastructure.”

Shailesh Mishra, Regional Leader for Grid Systems Integration in Asia Pacific at GE Vernova, commented, “The EP2 project plays a pivotal role in South Korea’s energy transition. By deploying advanced HVDC technology, we are not only improving the efficiency and reliability of the national grid but also enabling a greater integration of renewable energy sources. Our collaboration with KEPCO through KAPES enables us to deliver transformative solutions that align with South Korea’s sustainable energy goals.”

KAPES: Strengthening South Korea’s Power Grid

Established in 2012, KAPES is a joint venture between KEPCO and GE Vernova that has been instrumental in addressing South Korea’s unique energy challenges. Beyond the EP1 and EP2 projects, KAPES has played a key role in the Buk-Dangjin-Godeok HVDC connection—a 3 GW transmission line that delivers power from the Dangjin power plant to Seoul and surrounding areas—and the Shin-Bupyeong HVDC Link, a 500 MW Back-to-Back Voltage Sourced Converter (VSC) system in Incheon designed to ease grid congestion. Together, these initiatives reinforce KAPES’ crucial role in enhancing South Korea’s power grid and advancing its energy infrastructure.

HVDC’s Role in Korea’s Energy Transition

High Voltage Direct Current (HVDC) technology is a key element in the global transition towards sustainable energy systems. It allows for the efficient and reliable transmission of power over vast distances. The HVDC system based on Line Commutated Converter (LCC) technology utilizes thyristor-based power semiconductors to transfer substantial amounts of power, up to 8 GW, with minimal energy loss. Its capacity for high-power transmission, coupled with built-in fault protection, makes it an excellent choice for bolstering South Korea’s power grid and facilitating the integration of renewable energy sources.

In South Korea, HVDC is focused on improving the efficiency and stability of power transmission over long distances, enabling bi-directional energy flow, and supporting renewable energy integration. EP2 is designed to serve as a dependable link between the East Coast’s power generation plants and the high-demand metropolitan areas, which include major semiconductor production hubs such as Yongin, Incheon, and Pyeongtaek.

GE Vernova’s Presence in South Korea

GE Vernova has been a significant player in South Korea’s energy sector since 1976, working in close collaboration with local companies to foster the country’s growth in the energy industry.

Forward-Looking Statements

This document contains forward-looking statements, referring to predictions about future events that inherently involve some degree of uncertainty. These statements pertain to GE Vernova’s anticipated business and financial performance, the expected performance of its products, the effects of its services, and the potential results they may generate. Such statements often include terms like “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” By their nature, forward-looking statements involve uncertainty, including those regarding planned or potential transactions, investments, or projects, and their expected outcomes, as well as the influence of macroeconomic and market conditions on business operations, financial results, and the global supply chain.

About GE Vernova

GE Vernova Inc. (NYSE: GEV) is a purpose-driven global energy company, comprising the Power, Wind, and Electrification segments, supported by its accelerator businesses. With over 130 years of experience addressing global challenges, GE Vernova is uniquely positioned to lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. The company plays a pivotal role in helping customers power economies and deliver essential electricity that contributes to health, safety, security, and an enhanced quality of life. Headquartered in Cambridge, Massachusetts, GE Vernova operates in over 100 countries, with approximately 75,000 employees worldwide. Its purpose, The Energy to Change the World, drives the company’s efforts to deliver a more affordable, reliable, sustainable, and secure energy future.

Through its Grid Solutions business, GE Vernova is advancing global electrification by providing state-of-the-art grid technologies and systems. These innovations facilitate the transmission and distribution of power from generation points to consumers, supporting the decarbonization and security of the energy transition.

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