GE Aerospace - GE STOCK NEWS

GE Vernova-led consortium to supply and construct two High-Voltage Direct Current (HVDC) converter stations for EGL1 - National Grid and SP Energy Networks joint venture. HVDC system to be based on Voltage-Sourced technology – the most advanced HVDC technology. EGL1 HVDC link will enable the transmission of renewable green energy to power more than two million homes across the UK. GE Vernova’s Grid Solutions business (NYSE: GE) and MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (MYTILINEOS) have been awarded a £1 billion contract by National Grid Electricity Transmission and SP Transmission, part of SP Energy Networks (SPEN), for the United Kingdom’s first high-capacity east coast subsea link. The GE Vernova–MYTILINEOS consortium was selected to supply and construct two High-Voltage Direct Current (HVDC) converter stations for Eastern Green Link 1 (EGL1), a joint venture between National Grid Electricity Transmission and SP Transmission. EGL1 will oversee the construction of a 525kV, 2GW bipole Voltage-Sourced Converter (VSC) and HVDC subsea transmission cable from Torness in East Lothian, Scotland to Hawthorn Pit in County Durham, England, enabling the transmission of renewable green energy to power more than two million homes across the UK. GE Vernova, the consortium leader, and MYTILINEOS will provide the engineering works and technology for the two VSC HVDC converter stations, which form the terminals for the HVDC cable and convert the direct current to alternating current enabling the transmission of electricity into the onshore transmission network. The HVDC cable system is expected to be approximately 190km in length. VSC is the latest HVDC technology. HVDC provides the most efficient and reliable means of transmitting large amounts of power long distances subsea. The design phase will begin in January 2024. Construction will begin in 2025.

Assent Inc. (Assent) appoints Jason Cherry as Chief Financial Officer (CFO) and member of the company’s leadership team. Cherry brings over 20 years of financial leadership experience from various industries, including technology and manufacturing. Assent CEO, Andrew Waitman, highlights Cherry's global experience and mission to drive innovation and efficiencies across the organization for the next stage of growth. Cherry expresses excitement to contribute to Assent's purpose-driven mission of ethical and sustainable supply chain management.

GE Appliances (GE) receives a perfect score of 100 for the sixth consecutive year on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI), showcasing its commitment to LGBTQ+ workplace equality. The company joins 545 major U.S. businesses that earned top marks, reflecting its dedication to non-discrimination policies, equitable benefits, an inclusive culture, and corporate social responsibility. GE Appliances' efforts in satisfying all the CEI’s criteria earned it the designation as recipient of the Equality 100 Award: Leader in LGBTQ+ Workplace Inclusion.

GE (NYSE:GE) Announces Board of Directors for GE Vernova and GE Aerospace, outlining the diverse expertise and leadership experience of the newly formed boards. The press release highlights the appointment of directors for the planned independent public company GE Vernova and GE Aerospace, emphasizing their strong mix of domain expertise and diverse perspectives. This move is a significant step in the energy transition and shaping the future of flight, positioning GE Vernova as a standalone company focused on electrifying and decarbonizing the world. The announcement aims to bring the best of GE forward with compelling new thinking, reflecting a sharper, more focused mission for both independent companies.

GE plans to spin off GE Vernova and launch GE Aerospace in Q2 2024. GE Vernova shares will be listed on NYSE as 'GEV'. GE Aerospace will continue to be listed as 'GE'.

GE declares $0.08 per share dividend payable on October 25, 2023.

GE Aerospace selected by Bell Textron Inc. for work on the development of a Common Open Architecture Digital Backbone (COADB), Voice and Data Recorder, and the Health Awareness System (HAS) for the Bell V-280 Valor.

Study finds agreement on the need for companies to clearly articulate their approach to leadership, but a disconnect between C-suite and entry-level employees on how successfully companies are delivering.

GE Vernova appoints Ken Parks as CFO and Vic Abate as CEO of Wind segment