PITTSBURGH, PA (January 29, 2025) - GE Vernova Inc. (NYSE:GEV), America’s leading energy manufacturing company, today announced it is planning to invest more than $10 million in its Pittsburgh facility over the next two years to expand capabilities across its Electrification segment. This includes funding to house a new domestic manufacturing line for the company’s FLEXINVERTER, a key technology for utility-scale solar and energy storage applications. This total investment is expected to create more than 270 new jobs.

The investment comes as GE Vernova launches its new Power Conversion & Storage business, one of the three business units within GE Vernova’s Electrification segment. The new business unit, a combination of two previously separate businesses, Power Conversion and Solar & Storage Solutions, is a response to the increasing demand by customers for power stability and energy storage solutions driven by the increases in renewable power generation, as well as the continuous electrification of energy intensive industries.

“Expanding our Pittsburgh operations reflects our commitment to building a robust domestic supply chain for electrification technologies,” said Ed Torres, GE Vernova’s Power Conversion & Storage Business Leader. “This investment not only reinforces our role in supporting the energy transition but also aims to create jobs in the heart of the U.S. industrial base. As part of GE Vernova’s Electrification segment - our fastest-growing division with immense potential - Power Conversion & Storage expects to play a critical role in building the electrification backbone essential for achieving world climate goals.”

By localizing production, GE Vernova aims to address critical supply chain challenges, aligning with national priorities to strengthen U.S. energy independence while supporting decarbonization goals.

Pittsburgh Facility Expansion: Supporting U.S. Renewable Growth
The new GE Vernova FLEXINVERTER manufacturing line is designed to produce both 1500V and 2000V FLEXINVERTER models, which enable utilities to seamlessly connect renewable energy sources to the grid, ensuring stable and consistent energy supply for homes and businesses.

With a footprint of more than 2.7 acres (11,000 square meters), the expanded Pittsburgh facility will also boost engineering and field operations for sectors including steel, oil and gas, marine, and renewable energy. The investment reinforces GE Vernova’s commitment to providing advanced energy solutions that lower operational costs and enhance grid stability.

Driving the Energy Transition
The launch of Power Conversion & Storage further demonstrates GE Vernova’s leadership in accelerating the U.S. energy transition. With innovations like the 2000 kV FLEXINVERTER and RESTORE DC Block, the company is setting new standards for utility-scale renewable energy solutions.

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About GE Vernova
GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

GE Vernova’s Power Conversion & Storage business combines advanced energy conversion and storage systems to meet the electrification needs of utilities and industries. With a focus on industrial electrification, power stability, and energy storage solutions, Power Conversion & Storage empowers customers by addressing their most complex electrification challenges and accelerating their transition to a sustainable, decarbonized future.

Forward Looking Statements
This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements address GE Vernova's expected future business and financial performance, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on business operations, financial results and financial position and on the global supply chain and world economy.