GE Verona to Invest $96 Million for Innovative Energy Projects

Company Commits to Creating 75 New Jobs at Schenectady County Site

Center Will Enable Technology Advancements Including Decarbonization, Alternative Fuels for Power Generation, the Grid of the Future and Critical Infrastructure Security

Investment Supports Clean Energy Innovation To Lower Costs and Expand Access to Affordable, Sustainable Power

Governor Kathy Hochul today announced that GE Vernova has committed to investing at least $96 million into the company’s Advanced Research Center in Niskayuna, Schenectady County. The company plans to create 75 new jobs on-site, strengthening the Center’s electrification and decarbonization efforts, while advancing transformative technologies including carbon dioxide removal, alternative fuels for power generation and developing the grid of the future. Today’s announcement will support technological advancements that reduce emissions and drive New York State toward a future where clean energy not only boosts the state's economy, but also reflects the State's shared commitment to sustainability and opportunity.

“The clean energy future is bringing new investments, good-paying jobs and a cleaner environment to our state, and we’re proud to work alongside GE Vernova as we further our shared vision in Niskayuna and beyond,” Governor Hochul said. “New York is becoming a leading manufacturing and R&D hub for clean energy; bringing us closer to achieving our climate agenda and building a better, cleaner future for generations to come.”

The company has committed to investing at least $96 million and plans to build two new state-of-the-art laboratories focused on electrification and decarbonization, expand existing facilities, and rehabilitate two other buildings at the on-site Renewable Learning Center in support of its clean energy research and development efforts. The company has committed to creating at least 75 new full-time jobs at the Advanced Research Center. Empire State Development has agreed to provide up to $9.635 million in performance-based Excelsior Jobs Program tax credits to support GE Vernova's job creation effort. Additionally, Schenectady County Metroplex Development Authority has been invited to pursue FAST NY grant funding to support future on-site infrastructure projects.

GE Vernova Advanced Research Vice President David Vernooysaid, “GE Vernova is committed to strengthening its world class research and development center designed to advance the world’s progress in the energy transition, continuing our long history of innovation here in the Capital Region. This investment aims to enable game changing technologies through state-of-the-art labs, a new customer experience center, and collaboration space to advance partnerships with governments, customers, thought leaders and innovators alike. We are ready to lead, and excited about the breakthroughs this investment will bring forward.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Under Governor Hochul's leadership, New York State continues to invest in the companies, technologies and jobs of the future to promote sustainable economic growth. GE Vernova's Advanced Research Center has a rich history of next-generation developments, and the investments announced today will create new jobs and support new solutions to complex challenges that further the Capital Region's legacy of innovation.”

GE Vernova's Advanced Research Center in Niskayuna has a legacy of developing game-changing technologies, from gas turbines designed to be the world's most efficient, to advanced algorithms for efficient and resilient grid planning, operations and maintenance, to small modular nuclear reactors and 100 percent hydrogen combustion for carbon-free power generation.

This project will support research and development efforts that advance new innovations and technologies in clean, sustainable and alternative fuels. GE Vernova will build a cutting-edge, premier laboratory space designed to drive down the energy use and capital expenditure of carbon capture, while developing and delivering fuels that will allow combustion without carbon. The company's investment will also prioritize research into multi-terminal high-voltage direct current, a key to expanding the capabilities and functionality of the United States power grid of the future. It will also strengthen the ability to connect multiple sources of power generation to the grid. By driving advancements in clean energy technology, this investment will help reduce the cost of renewable power, making sustainable energy more affordable and accessible for both consumers and businesses.

Through the New York Power Authority’s RechargeNY low-cost power program, GE Vernova has been awarded 9,440 kW in return for its commitments to the State.

New York Power Authority President and CEO Justin E. Driscoll said, “General Electric’s legacy of innovation is closely tied to Schenectady County, and this $96 million investment will help ensure that clean energy jobs of the future remain here in New York State. With support from NYPA low-cost hydropower, GE Vernova’s expansion will help develop and explore new, transformative technologies that will help decarbonize our state and others, and strengthen our electric grid.”

New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “Innovation, research and technology are the cornerstones of New York State’s transition to a sustainable and affordable clean energy transition. The GE Vernova Advanced Research Center innovation investments will help further the State’s climate and energy priorities while spurring additional economic development as part of our growing green economy.”

Schenectady County Legislature Chair Gary Hughes said, “We are grateful to Governor Hochul and Empire State Development for their dedicated efforts that have resulted in this historic investment in GE Vernova’s Advanced Research Center. These transformative investments will create high-tech jobs, fuel economic growth, and strengthen our position as a hub for innovation. We thank our Metroplexteam for collaborating with ESD and we are proud that GE continues to make substantial investments in Schenectady County.”

Niskayuna Supervisor Erin Cassady-Dorion said, “We thank GE Vernova for making this investment and commitment to Niskayuna’s Advanced Research Center. The Town will continue to work with State and County partners to move this project forward, and we thank Governor Hochul and Empire State Development for their efforts that were key in making this happen.”

New York State’s Climate Agenda

New York State’s climate agenda calls for an affordable and just transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities. New York is advancing a suite of efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation and waste sectors.