GE Vernova to Invest Nearly USD 600 Million in its US Factories and Facilities

GE Vernova Inc. is planning to invest nearly USD 600 million in its US factories and facilities over the next two years to help meet the surging electricity demands around the world.

The new investments – expected to create more than 1,500 new US jobs – will help drive US energy affordability, national security, and competitiveness, and enable the American manufacturing footprint needed to support expanding global exports.

With worldwide energy needs forecasted to double, the substantial investments – the largest since the company’s spinoff in April – will help meet soaring customer demand, strengthen domestic supply chains, and continue developing cutting-edge American technology that helps power the world.

“These investments represent our serious commitment and responsibility as the leading energy manufacturer in the United States to help meet America’s and the world’s accelerating energy demand,” said Scott Strazik, CEO of GE Vernova. “These strategic investments and the jobs they create aim to both help our customers meet the doubling of demand and accelerate American innovation and technology development to boost the country’s energy security and global competitiveness.”

The new investments are the first part of a larger USD 9 billion cumulative global capex and R&D investment plan through 2028 that was announced at the company’s Investor Update on December 10. Currently GE Vernova has more than 18,000 workers across 50 states in the US, with 18 US manufacturing facilities and its global headquarters located in Massachusetts. The company’s technology helps produce approximately 25 percent of the world’s energy and is currently deployed in more than 140 countries.