Engine No. 1, Chevron, and GE Vernova to Power U.S. Data Centers
New joint development plans to deliver up to four gigawatts (GW) of power by leveraging American energy abundance to drive American AI leadership.
The first projects, which the companies refer to as “power foundries,” are expected to leverage seven
The companies’ plans directly address the need for affordable, reliable energy to meet the significant demand for electricity to power
Chris James, founder and chief investment officer of Engine No. 1, said, “Energy is the key to America’s AI dominance. By using abundant domestic natural gas to generate electricity directly connected to data centers, we can secure AI leadership, drive productivity gains across our economy and restore America’s standing as an industrial superpower. This partnership with Chevron and GE Vernova addresses the biggest energy challenge we face.”
Mike Wirth, chief executive officer and chairman, Chevron Corporation, said, “We are proud to play our part in bringing to fruition President Trump’s vision for a new American golden age, powered by our enormous energy resources and unrivaled workforce. President Trump’s pro-American energy policies and commitment to energy and AI dominance give us the confidence to invest in projects that will create American jobs and strengthen our national security.”
Scott Strazik, chief executive officer for GE Vernova, said, “We are excited to enable the advancement of data center growth in the
The rapid growth of digital technology, including the rise of data consumption, cloud computing and AI-powered solutions, requires cost-effective and scalable solutions to enable growth and avoid burdening the existing grid. Over time, this innovative model is designed to sell surplus power to the
In addition to providing affordable, reliable energy to a rapidly growing part of America’s economy, the joint development is expected to create thousands of jobs and help the reindustrialization of the
About Engine No. 1
Engine No. 1 is an investment firm that builds and invests in companies that are driving the reindustrialization of
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow lower carbon businesses in renewable fuels, carbon capture and offsets, hydrogen and other emerging technologies. More information about Chevron is available at www.chevron.com.
About GE Vernova
GE Vernova (NYSE: GEV) is 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
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Engine No. 1 Contact
Steve Murray
212-843-8293
smurray@rubenstein.com
Chevron Contact
Kelly Russell
936-333-4077
kellyrussell@chevron.com
GE Vernova Contact
Treacy Reynolds
978-810-4398
Treacy.reynolds@ge.com
Source: Chevron Corporation