GE Vernova Expands Strategic Collaboration Agreement with AWS to Help Energy Companies Accelerate the Energy Transition

CAMBRIDGE, Mass., November 7, 2024 -- GE Vernova Inc. (NYSE: GEV) today announced it has signed an expanded multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) that includes its Asset Performance Management (APM) and CERius™ software delivered in the AWS Cloud. The SCA is designed to make it easier for energy companies to adopt software that has the potential to reshape how they manage their asset and emissions data as they address the energy transition.

"As the energy landscape continues to dynamically transform, the power of flexible cloud-based software is increasingly important," said Scott Reese, CEO of GE Vernova's Electrification Software business. "The expansion of our strategic agreement with AWS represents our commitment to providing digital solutions that can help energy organizations increase reliability, lower costs, and make measurable progress on energy transition goals." GE Vernova previously announced SCAs with AWS to benefit electric utilities, manufacturers, and other industrial companies.

GE Vernova customers are already experiencing benefits of the expanded SCA with AWS. One example is global energy company AES. "GE Vernova's APM as a software as a service (SaaS) solution has been very important for AES. Its advanced predictive analytics, real-time monitoring, and user-friendly interface have significantly improved our operational efficiency and asset reliability," said Michelle Legge, Sr. Reliability Engineer and GE APM Program Manager at AES. "The flexibility and scalability of the SaaS model ensures that we can easily adapt to our evolving needs while maintaining optimal performance. With GE Vernova's APM, we have achieved greater visibility into our assets, enabling more informed decision-making and proactive maintenance strategies. This relationship has been instrumental in driving our mission of delivering sustainable, reliable, and innovative energy solutions."

The expanded SCA is designed to enable energy companies to:

• Scale with flexibility using solutions that evolve with organizations. GE Vernova's APM is a suite of software and services designed to help optimize asset performance and operations and maintenance (O&M) efficiency across equipment, the plant, and the entire fleet. The solution offers a modular approach and comprehensive integrations to help companies scale their operations more seamlessly and efficiently. A combination of artificial intelligence (AI) and machine learning (ML) helps enable organizations to more effectively manage and action their asset data.
• Operationalize decarbonization strategy. CERius is GE Vernova's emissions data management software. The solution is designed to automate the process of accurately collecting greenhouse gas (GHG) emissions data, provide valuable insights, and identify opportunities for reducing carbon emissions.
• Onboard and integrate more sustainable energy faster. Pre-built workflows, AI/ML programming, real-time data, and predictive analytics can empower faster decision-making. This is essential to speeding up the integration of renewable assets on the journey to a more sustainable energy future.
• Leverage extensive industry expertise. Built on over 130 years of experience, GE Vernova is uniquely positioned to change the arc of climate change. The company's software solutions are purpose-built with original equipment manufacturer (OEM) expertise, making it easy to apply them to new asset types as today's energy landscape evolves. In addition to working with AWS, leveraging its advanced and secure cloud services and industry expertise, GE Vernova employs expert guidance backed by strong experience across information and operational technology (IT and OT).
• Modernize and maximize investments with cloud-based optimization. With an end-to-end solution that facilitates continuous and progressive improvement, companies should have the power to optimize for lower expenses and higher return on investments.

"As the industry faces the challenges of network efficiency and decarbonization, our collaboration with GE Vernova provides a unique opportunity to reshape asset performance and emissions management," said Scott Sanderson, Director of Business Development, Energy and Utilities at AWS. "Together, we're enabling customers to accelerate innovation, reduce their carbon footprint, and sustain financial performance."

GE Vernova was recently named a Leader for the third straight time by independent industry analyst firm Verdantix in its Green Quadrant: APM Solutions 2024 report. More information on the company's APM can be found here.

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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 more than 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 Electrification Software business is focused on delivering the intelligent applications and insights needed to accelerate electrification and decarbonization across the entire energy ecosystem - from how it's created, how it's orchestrated, to how it's consumed. Its Power & Energy Resources Software helps improve reliability and drive decarbonization.

Forward-Looking Statements

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