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“In my mind, there are no two letters that better embody the spirit of innovation — and have always embodied the spirit of innovation, in the past and the future of this country — than ‘GE,’” said Scott Strazik, CEO of GE Vernova, as his company officially completed its spin-off from the GE Corporation in April. In the eight months since, GE Vernova has continued to make good on its commitment to electrify and decarbonize the world. As the company looks forward to another year leading the energy transition, here’s a glance back at the biggest milestones of 2024.

Yesterday, GE Vernova hosted its 2024 Investor Update event in New York City. Given our strong financial trajectory from robust customer demand and better execution, we raised our 2025 guidance and our outlook by 2028. We also framed our capital allocation strategy, announcing that our Board of Directors declared a quarterly dividend and approved an initial share repurchase authorization.

Teesside, the urban region perched on the muddy banks of the River Tees in northeast England, used to be a global beacon of industry. In the mid-19th century, the port of Middlesbrough forged its reputation as “Ironopolis,” boasting nearly 100 blast furnaces that roared away round the clock. The town was also a major chemicals hub, drawing on the rock salt deposits at the mouth of the chilly North Sea to produce alkalis, fertilizers, and plastics.

This February, when the National Academy of Engineering named the 114 Americans it was elevating to engineering’s highest honor, it cited Dennis Henneke, of GE Vernova’s nuclear business, GE Hitachi Nuclear Energy, for an imposing achievement: “applying probabilistic risk assessment [PRA] to enhance nuclear reactor safety.” The achievement, a kind of engineering grand slam — arcane complexity and vital real-world importance — was not, Henneke says, the result of a lifelong, noble quest.

This year’s annual United Nations climate summit, COP 29, is the first COP meeting to focus on finance in 15 years, and among the major agenda items delegates have been discussing are financial commitments by wealthier countries to help developing nations transition their energy infrastructure away from coal and other high-emissions sources and toward more renewable forms of energy.

When we look back on what catalyzed the hydrogen economy, we might say it all began in a small, historic steelmaking town in the state of South Australia. Here in Whyalla, at the top of the Spencer Gulf, north of Adelaide, ground will soon be broken for the construction of what is expected to be the world’s largest green hydrogen plant.