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GE Vernova Adding 250 New Jobs as Part of Pennsylvania Factory Expansion to Manufacture More Critical Grid Technologies

1. GE Vernova plans to add 250 jobs at Charleroi factory, enhancing grid solutions. 2. The company will invest $100 million in Pennsylvania, creating 700 new jobs. 3. GE Vernova builds on a $600 million investment to boost manufacturing capacity. 4. New projects aim to align with national security and grid modernization efforts. 5. Strategic investments could enhance GEV's competitiveness in the energy sector.

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FAQ

Why Bullish?

Positive job creation and investment signal growth potential, similar to successful past expansions.

How important is it?

Investment in job creation and energy infrastructure positions GEV favorably for future expansion.

Why Long Term?

Investments and job growth will contribute to sustained performance over several years.

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GENEEEDEXC
CAMBRIDGE, Mass.--(BUSINESS WIRE)--As energy demand continues to surge, GE Vernova (NYSE: GEV) plans to add 250 new jobs over the next two years at the company’s leading grid solutions factory in Charleroi, PA. The new roles will help manufacture more high voltage switchgear products, which are critical components for stable and reliable operation of the nation’s electrical grids. GE Vernova now plans to invest up to $100 million in Pennsylvania over the next two years, adding approximately 700 new jobs across multiple factories in the state that will help modernize the grid for economic growth, strengthen domestic supply chains, and boost national security. This new Charleroi factory expansion builds on the company’s $600 million multi-year investment announced in January, originally expected to create a total of 1,500 new jobs across numerous U.S. factories. “Powering the grid is at the core of powering America’s economy,” said Scott Strazik, CEO of GE Vernova. “These new jobs and investment reflect our ongoing commitment to not only building critical grid infrastructure with American workers, but reindustrializing Pennsylvania’s proud manufacturing legacy. They will also help strengthen our domestic supply chain, improve national security, and boost global competitiveness by closing a crucial gap. “We are investing in Charleroi and our advanced grid technology because it complements the investments we've made in power generation,” Strazik continued. “For the US to lead in energy, manufacturing critical domestic grid infrastructure is just as important generation.” In addition to the new investment in its Charleroi facility, GE Vernova also announced it has secured a full order to provide seven of its high efficiency 7HA.02 natural gas turbines to the Homer City Energy Campus. The facility, once the largest coal plant in Pennsylvania, will provide up to 4.4GW of electricity to power what will become a more than 3,200-acre natural gas-powered data center campus, designed to meet the growing artificial intelligence (AI) and high-performance computing (HPC) needs of the innovative technology companies shaping America’s digital future. The Homer City Energy Campus is expected to be completed in 2027. *** “The Homer City project shows what smart energy investments can achieve — delivering more reliable, affordable power for all, creating thousands of skilled jobs, and positioning Pennsylvania to help lead the next era of AI,” Strazik added. The approximately $100 million of new investments in Pennsylvania over the next two years are part of a larger $9 billion cumulative global capex and R&D investment plan through 2028 that was announced at the company’s Investor Update in December 2024. Currently GE Vernova’s technology helps produce more than half of the power in the United States, and the company has more than 18,000 workers across 50 states and 18 U.S. manufacturing facilities. ***For financial editors: the seven 7HA.02 gas turbines were announced as slot reservation agreements on April 2, 2025. These units have since moved to a secured order in 3Q25. About GE Vernova GE Vernova 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. GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova’s website and LinkedIn. 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 often address GE Vernova’s expected future business and financial performance and financial condition, 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 memoranda of understanding and the expected impact of the relationships created thereunder, contract and project proposals, bidding processes, government review processes and competitions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

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