The GE Brief: February 14, 2023

The State of GE

In a letter to shareholders in GE’s 2022 Annual Report, GE Chairman and CEO and GE Aerospace CEO Larry Culp writes that 2022 was “a year that propelled GE forward.” Amid challenges like inflation, geopolitical conflict, and supply chain disruptions, the company focused on “controlling the controllable.” As a result, GE was able to finish the year with solid revenue growth and margin expansion, Culp says, while successfully launching GE HealthCare as an independent company. Read the full letter here and find the Annual Report here.

Ukraine’s New Power Plant on Wheels

Blackouts have become routine since Russian forces began targeting Ukraine’s power utilities in October 2022, while millions of residents driven from their homes huddle against the cold in makeshift shelters and bombed-out buildings. To help, the United States government’s humanitarian agency USAID and GE Power recently teamed up to ship a TM2500 gas turbine to the country. The portable turbine can be wheeled into place to help Ukraine keep the lights on and the water flowing into taps where it’s needed most. Read more here.

How to Conduct Electricity

Like a 70-piece orchestra, the power grid is becoming a complex ecosystem, with decentralized electricity users and providers moving electrons back and forth in an entirely new way. Adding to the challenge are destabilizing extreme weather and the intermittency of renewable sources like wind and solar. To help utilities manage it, this week GE Digital unveiled GridOS, the world’s first grid software portfolio designed for grid orchestration. Check it out here.

The Chunnel Gets a Power Face-Lift

The Channel Tunnel between England and France has been funneling passenger and freight rail for nearly 30 years. But with just a single tube going in either direction, capacity was strained. How to prepare for the next leg of growth? Tunnel operator Getlink and GE Grid Solutions came up with a fix, strengthening the 31-mile-long tunnel’s power supply to allow a 60% increase in rail traffic. Read more here.

— Quote of the Day —

“2022 marked the beginning of a new era for GE. One where we are unleashing our full potential as three independent industry leaders.”

— Larry Culp, chairman and CEO, GE, and CEO, GE Aerospace