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Chevron, engine n ° 1 and Ge Vernova to power American data centers – Chevron

Chevron, engine n ° 1 and Ge Vernova to power American data centers – Chevron

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New joint development plans to deliver up to four gigawatts (GW) from power by taking advantage of the abundance of American energy to stimulate the management of the American AI.

New York and Houston (January 28, 2025) The engine n ° 1 and Chevron USA Inc. (NYSE: CVX) have today announced the training of a partnership to create a new company to develop evolving and reliable power solutions for The United States (United States) data centers operating on American natural gas. The Trump's first actions define the critical foundations to encourage investment by taking advantage of the abundance of energy of the Americas to allow the leadership of the AID Americas. The joint development, in collaboration with Ge Vernova (NYSE: GEV), aims to establish the first power station co-localized on a multi-Gigawatt scale and data center during President Trumps.

The first projects, which companies call for power foundries, should take advantage of seven natural gas turbines Ge Vernova 7ha, obtained under a niche booking agreement, on an accelerated calendar. Projects should serve the roommate data centers in the US Southeast, Midwest and West regions. Electricity production is not designed to circulate initially through the existing transmission network, which reduces the risk of increasing electricity prices for consumers.

Companies directly provide for the need for affordable and reliable energy to meet the large electricity demand to supply American data centers, allowing current and future generations to develop joint development plans in the United States to deliver until 'At four GW, the equivalent of the switching on 3 to 3.5 million American houses, with an initial targeted course at the end of 2027 and a potential for expansion of the project beyond this capacity. The projects should be designed with flexibility to integrate lower carbon solutions, such as carbon capture and storage (CCS) which are capable of capturing> 90% of CO2 of turbines and renewable energy resources.

Chris James, founder and director of investments in engine n ° 1, said that energy is the key to the domination of the Americas. Using an abundant national natural gas to produce electricity directly linked to data centers, we can obtain AI leadership, generate productivity gains in our economy and restore the Americas as an industrial superpower. This partnership with Chevron and Ge Vernova takes up the greatest energy challenge we face.

Mike Wirth, chief executive officer and president of Chevron Corporation, said that we are proud to play our role in the conclusion of President Trumps Vision for a new American golden age, powered by our enormous energy resources and unrivaled workforce. The president prevails over pro-American energy policies and the commitment to the energy and domination of AI give us the necessary confidence to invest in projects that will create American jobs and strengthen our national security.

Scott Strazik, chief executive officer of Ge Vernova, said that we are delighted to allow the growth of the growth of data centers in the United States by supporting the provision of critical needs to customers using innovative solutions. Ge Vernova is only positioned to provide the energy systems and the support necessary to make this company on a large scale possible, as the main American energy manufacturer. »»

The rapid growth of digital technology, in particular the rise in power of data consumption, Cloud IT and solutions fueled by AI, requires profitable and evolving solutions to allow growth and avoid backing up the network existing. Over time, this innovative model is designed to sell an excess power to the American electrical network, thanks to future interconnections, supporting wider energy requests while keeping the low costs.

In addition to providing affordable and reliable energy to an increasing part of the Americas economy, joint development should create thousands of jobs and help the reindustrialisation of the United States

About engine n ° 1

The n ° 1 engine is an investment company that builds and invests in companies that stimulate the reindustrialisation of the United States. For more information, please visit: www.engine1.com

Contact

Steve Murray212-843-8293 smurray@rubenstein.com

About Chevron

Chevron is one of the main integrated energy companies in the world. We believe that affordable, reliable and always cleaning energy is essential to allow human progress. Chevron produces crude oil and natural gas; factory of transport fuel, lubricants, petrochemicals and additives; And develop technologies that improve our business and industry. We aim to develop our petroleum and gas activities, to reduce the intensity of the carbon of our operations and to develop lower carbon companies in renewable fuels, capture and compensation for carbon, hydrogen and other emerging technologies . More information on Chevron is available on www.chevron.com.

Contact

Kelly Russell936-333-4077 Kellyrussell@chevron.com

About Ge Vernova

GE VERNOVA (NYSE: GEV) is a specially designed global energy company which includes power, wind and electrification segments and is supported by its accelerator activities. Based on more than 130 years of experience by taking up the challenges of the world, Ge Vernova is only positioned to help lead the energy transition by continuing to electrify the world while working simultaneously to decarbonize it. GE VERNOVA helps customers feed savings and provide electricity that is vital to health, safety, safety and better quality of life. Ge Vernova has its headquarters in Cambridge, Massachusetts, United States, with around 75,000 employees in more than 100 countries around the world. Supported by the company's objective, energy to change the world, Ge Vernova technology helps to provide a more affordable, reliable, sustainable and secure energy future.

Contact

TREACY REYNOLDS 978-8104398 TREACY.REYNOLDS@ge.com

Sources

1/ https://Google.com/

2/ https://www.chevron.com/newsroom/2025/q1/power-solutions-for-us-data-centers

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