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GE Energy
New Facility Key Part of GE's Wilmington Site Expansion
WILMINGTON, N.C. - May 16, 2006 - Demonstrating its commitment to the global nuclear industry, GE Energy's nuclear business formally began construction Tuesday on a two-story, 40,000-square-foot advanced reactor technology center at its Wilmington, N.C. headquarters.
Upon completion, the building will house more than 200 engineers, project managers and support staff dedicated to advanced reactor technology.
The new building is one of several ongoing projects at the new Nuclear Headquarters in Wilmington, N.C. In September of 2005, GE and North Carolina Governor Mike Easley announced the expansion plans that includes an overall investment of $77 million in the GE Wilmington site. The advanced reactor center is to be completed in November 2006.
GE Infrastructure President and CEO David Calhoun, GE Energy President and CEO John Krenicki, and Andy White, President and CEO of GE Energy's nuclear business, were among those on hand for the building's groundbreaking ceremony.
GE's executives cited the project's importance to the continued growth of the nuclear business, a leading provider of light water reactor technology and services.
"This investment underscores GE Energy's commitment to helping serve the needs of the global nuclear industry in the coming decades," said Krenicki. "As we prepare for fulfilling new orders, the new facility will serve as GE's nerve center for advanced reactor technology."
GE's advanced ESBWR technology, one of only two "Generation III +" designs available to customers, has already been selected for three potential U.S. reactor projects. While no U.S. utilities have decided to formally place what would be the first reactor orders in 25 years, several could submit applications for federal construction and operating licenses (COLs) in 2007 or 2008. If approved, construction could begin by 2010 or 2011.
Beyond North America, the ESBWR also is being considered for installation by a number of other utility customers and national governments.
"We are optimistic that our new ESBWR technology center will play a crucial, supporting role as we compete for new reactor orders both in the United States and around the world," White said. "It is imperative we have the most extensive and advanced engineering, design and production capabilities to meet all customer requirements."
These partnerships compliment GE's existing global supply chain capability, which has been fully developed for ongoing projects in Japan and Taiwan. Combined together, these relationships provide tremendous certainty of cost, schedule and capacity for new plant delivery. GE Energy's nuclear business develops advanced light water reactors and provides a wide array of technology-based products and services to help owners of both boiling and pressurized water reactors safely operate their facilities with greater efficiency and output.
About GE Energy GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2005 revenue of $16.5 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
Numerous GE Energy products are certified under ecomagination, GE's corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.
For more information, contact: Dennis Murphy Ken Darling or Tom Murnane GE Energy Masto Public Relations +1 678 844 6948 + 1 518 786 6488 dennis.murphy@ps.ge.com kenneth.darling@ps.ge.com tom.murnane@mastopr.com
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