In early pre-market action the stock is up $9.03 at $570.23. If it holds the gain the stock will exceed yesterday's intraday all-time high, $566.52.
From Fox Business via Yahoo Finance, July 15:
American energy revival takes shape as GE Vernova pours millions into Pennsylvania economy
GE Vernova, the energy spin-off of GE, is investing an additional $80 million in its flagship grid solutions factory in Pennsylvania over the next two years to modernize the electric grid and meet growing demand.
The investment will create 250 jobs at the leading grid solutions factory in Charleroi. It will help manufacture additional high-voltage switchgear products essential to the operation of the country’s electric grids.
GE Vernova’s technology helps produce over half of the power in the United States. The company employs more than 18,000 workers at 18 U.S. manufacturing facilities across the nation.
Since January, the company announced a total of $680 million in U.S. investments, which will lead to the creation of 1,750 new jobs. In Pennsylvania, it announced plans to invest up to $100 million, creating 700 jobs at factories in the state.
"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," GE Vernova CEO Scott Strazik said. "They will also help strengthen our domestic supply chain, improve national security, and boost global competitiveness by closing a crucial gap."
Aside from its Charleroi facility, GE Vernova announced on Tuesday that it has received approval to provide seven of its high-efficiency 7HA.02 natural gas turbines to the Homer City Energy Campus, which was previously the largest coal-burning power plant in Pennsylvania. It is now being transformed into a more than 3,200-acre natural-gas-powered data center campus that will provide up to 4.5GW of electricity aimed at meeting the demand for artificial intelligence and high-performance computing needs of innovative technology companies....
.....MUCH MORE
This announcement was part of the Energy Summit at Pittsburgh's Carnegie Mellon University, The summit was a pretty big deal. If interested see:
If you are going to hold an innovation summit Carnegie Mellon is a dandy place to hold it....Senator McCormick's Pennsylvania Energy and Innovation Summit Fact Sheet of Deals Announced
