GE Renewable Energy and European Energy strengthen their partnership in Lithuania

 General Electric News Release:

• GE Renewable Energy selected by European Energy to supply another 34 Cypress onshore wind turbines units for three additional wind farms in Lithuania
• European Energy will operate a total of 56 GE turbines in Lithuania at six wind farms, representing a total of 308 MW
• Deal includes a 25-year service contract

Paris, July 08, 2021 – GE Renewable Energy announced today that it has been selected by European Energy as the supplier for three additional wind farms in Lithuania, two in Telsiai and one in Rokiskis, in the northern part of the country. The 187 MW project, which will use 34 GE Cypress onshore wind turbine units, strengthens the partnership between the two companies which will now operate a total of 56 Cypress units in the country after an earlier order for 22 turbines at three wind farms announced in November 2020. The six wind farms will have a total capacity of 308 MW, adding 57% of green power capacity to the country’s current wind power production. The deal also includes a 25-year full-service contract.

European Energy will operate the Cypress turbines at 5.5 MW, with a rotor diameter of 158m and blades provided by LM Wind Power, a GE Renewable Energy business. All turbines will be erected on a 151m tower. The installation of the wind turbines on the first three projects announced in November 2020 will take place in H2 2021 while the next three announced today will be installed in 2022. Earlier this year, European Energy started the construction of its first wind farm in Lithuania at Anyksciai with a capacity of 49.5 MW.

Knud Erik Andersen, CEO of European Energy, said: “The expansion of renewable energy in Lithuania is something that we are honored to be a part of. Renewable energy provides Lithuania with affordable and green energy that can bolster Lithuania’s energy security, and we are happy to partner with GE on several of our windfarms in Lithuania. Lithuania is aiming to have 100% of its electricity come from renewable sources in 2050, and we will do ours to make that ambition come true.”

Sheri Hickok, GE’s CEO of Onshore Wind International, commented: “We’re delighted and excited to partner again with European Energy on three new projects that will bring additional clean, affordable, renewable energy to Lithuania. With European Energy, we have built a very strong relationship in Lithuania and in multiple countries to accelerate the energy transition and drive energy costs down.”

According to the Lithuanian wind power association, Lvea, Lithuania has set the goal to produce 100 percent of the country’s electricity from renewable sources by 2050. There are currently 23 wind parks operating in Lithuania with a combined capacity of 480 MW. Together with the individual wind turbines, there is a total of 540 MW of wind power installed today. GE Renewable Energy’s Cypress turbine enjoys a growing position in the country with three major orders booked within the last 3 months, including today’s announcement.

The Cypress onshore wind platform enables significant Annual Energy Production (AEP) improvements, increased efficiency in service ability, improved logistics and siting potential, and ultimately more value for customers. The two-piece blade design enables blades to be manufactured at even longer lengths, improving logistics to drive costs down and offer more siting options in locations that were previously inaccessible.

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GE Healthcare’s Industry-First Contrast-Guided Biopsy Solution, Serena Bright, Installed in Five Major Hospitals in the United States

 General Electric Press Release:

Serena Bright™ sets new standards for breast cancer detection and biopsy technology

 

CHICAGO, IL July 7, 2021:  GE Healthcare today announced the installation of Serena Bright™ in five hospitals and radiology centers around the United States. Serena Bright™ is the industry’s first contrast-guided biopsy solution, helping empower clinicians and patients in their fight against breast cancer. The technology, which received U.S. Food and Drug Administration 510(k) clearance in May 2020, allows patients to have their breast biopsy exams with contrast guidance using the same mammography equipment, in the same room, and with the same staff as the screening or diagnostic mammogram.

 

Among others, Serena Bright™ has been installed at Thomas Jefferson University Hospital (Philadelphia, Pa.), Boca Raton Regional Hospital (Boca Raton, Fla.), HCA Blake Medical Center in (Bradenton, Fla.) and Lake Medical Imaging & Breast Center (The Villages, Fla.). Health systems worldwide are implementing the Serena Bright technology in their efforts against breast cancer, with hundreds of patients already seeing results from installations across the globe.

 

Serena Bright™ provides reliable and accurate results that lead to a clear path of action, usually without further testing. In the past, clinicians have typically needed to use other imaging guidance, such as MRI, for biopsy procedures for lesions found with contrast-enhanced mammography and not seen on ultrasound. Following an abnormal mammogram, it can take several weeks to get an MRI biopsy.[1] Now as the backlog of cancer screenings caused by COVID-19 persists, delays in diagnosis are leading to some presentations at more advanced stages and poorer clinical outcomes, with one study pointing to a potential increase of 33,890 excessive cancer deaths in the U.S. alone.[2]

 

Serena Bright™ may help decrease these delays, allowing follow-up biopsy procedures to be done in a matter of days, rather than waiting several weeks for an MRI biopsy. When compared to MRI-biopsy guided therapy, the potential benefits of Contrast-Enhanced biopsy include shortened procedure time and improved overall patient experience.[3],[4]

 

“Especially in today’s world, as we start to regain a sense of normalcy post-pandemic, accurately identifying and confirming the extent of disease for patients is essential to getting them on the right path to a cure,” Dr. Jason Shames, Associate Director of Research, Division of Breast Imaging, Co-Director, Breast Imaging Fellowship at Thomas Jefferson University Hospital, said. “With Serena and Serena Bright, we are now able to provide our patients and treatment teams with more confident locoregional staging results in a more accelerated, cost effective way.”

 

Critical to this technology’s application is GE Healthcare’s SenoBright™ HD Contrast-Enhanced Spectral Mammography (CESM), a diagnostic breast exam with iodine-based contrast that provides high sensitivity for more accurate breast cancer diagnosis.[5] By highlighting areas of unusual blood flow to localize lesions that need to be biopsied, CESM biopsy – Serena Bright™ – provides excellent image quality to help improve clinical confidence.

 

“Now more than ever, we need to give patients answers as fast as possible while also ensuring their comfort. We are proud to bring Serena Bright to our customers during this time when clarity and results are needed more rapidly,” said Agnes Berzsenyi, President and CEO of Women’s Health and X-Ray at GE Healthcare. “We’re optimistic about the potential for this technology to significantly improve breast cancer outcomes for women.”

 

For more information, visit www.gehealthcare.com/products/mammography/serena-bright. 

GE Renewable Energy's LM Wind Power produces 44,444th blade in India

 General Electric Press Release:

Bangalore, India, 7 July 2021 - GE Renewable Energy announced today it has produced its 44,444th wind turbine blade at LM Wind Power’s wind turbine blade manufacturing sites in India. These blades have been manufactured in the two factories located near Bangalore, Karnataka and in Vadodara, Gujarat.

Phani Gujjari, Head of Operations for LM Wind Power in India, said: “We know blades. From design, prototyping and testing, to manufacturing, maintenance and service. As the 44,444th blade rolled out of our India plants in June this year, we are focused on making next generation wind turbine blades for a greener world.”

LM Wind Power’s operations in India began in 1994 in Hoskote near Bangalore with the production of 13.4-meter blades. Today, driven by innovation and built with passion the length of the blades produced in India exceeds 80 meters.

The Dabaspet factory in Bangalore (inaugurated in 2007) is recognized globally as a model factory, with a modern in-house lab, a playground for innovation and collaboration, and an industry leading service center. In 2016, LM Wind Power inaugurated its Vadodara factory, which became one of its largest production sites in the world. Both factories are recognized for their high safety standards and production efficiency. In 2020, the Dabaspet factory was awarded the CII South Region EHS Excellence Award 2020 for Manufacturing Excellence.

Since the start of its operations in India 27 years ago, LM Wind Power has designed and produced innovative, customer-driven blades which have helped install over 11+ GW of wind power and power approximately 6 million homes till date. Currently, about 70% of blades manufactured in its factories in India are exported, supporting the Government of India’s vision to ‘Make for the World’.

LM Wind Power has global service capabilities and with a strong network of operations and maintenance support facilities, combined with efficient onsite repair solutions, the company delivers high-quality solutions to wind farm owners across the world. The Service team in India is also recognized and globally certified under GWO (Global Wind Organization) to provide training to technicians across the industry.

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GECAS’ Cargo Aircraft Group Signs Purchase-and-Leaseback Deal with Korean Air for Five New Boeing 777Fs

SHANNON, Ireland, September 1, 2016 -- GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing arm of GE, today announced it signed a purchase-and-leaseback transaction with Korean Air Lines Co., Ltd. for five new Boeing 777F freighters powered by GE90 engines as part of the carrier’s fleet renewal program. Deliveries of the aircraft are scheduled in late 2016 and 2017.



GECAS’ Cargo Aircraft Group Signs Purchase-and-Leaseback Deal with Korean Air for Five New Boeing 777Fs

GE to Provide Static Frequency Converter to Pump-Storage Power Plant for Electricity Generating Authority of Thailand

LAM TA KHONG, THAILAND—September 1, 2016—The government of Thailand has outlined an energy plan in which the country anticipates achieving more than 2 gigawatts (GW) of newly added pump-storage hydropower capacity by 2036. GE’s (NYSE: GE) recent deal to help the Electricity Generating Authority of Thailand (EGAT) upgrade and expand its hydro power plant shows the company’s firm commitment to help the country achieve its goal.



GE to Provide Static Frequency Converter to Pump-Storage Power Plant for Electricity Generating Authority of Thailand

GE COMPLETES SALE OF COMMERCIAL LENDING AND LEASING BUSINESS IN INDIA

BOSTON, MA. – September 1, 2016 – GE (NYSE: GE) announced today that it has completed the sale of its Commercial Lending and Leasing business in India to a consortium of former GE Capital executives led by Pramod Bhasin and Anil Chawla and backed by AION Capital Partners.  The transaction represents ending net investment (ENI) of approximately $0.4 billion as of the end of the second quarter of 2016.



GE COMPLETES SALE OF COMMERCIAL LENDING AND LEASING BUSINESS IN INDIA

GE appoints energy industry veteran as Country Leader for New Zealand

Auckland, New Zealand, August 30, 2016 – GE has announced the appointment of Kevin Hart as GE Country Leader for New Zealand.



GE appoints energy industry veteran as Country Leader for New Zealand

GE Acquires Top Supply Chain Software Provider ShipXpress to Expand Digital Rail Offerings

Chicago, Aug. 30, 2016 - (NYSE:GE) GE Transportation, the world’s leading producer of rail and transportation-related products and offerings, announced its acquisition of ShipXpress, a top provider of cloud-based software solutions that enable transportation, industrial, and commodities businesses to efficiently operate with supply chain partners.



GE Acquires Top Supply Chain Software Provider ShipXpress to Expand Digital Rail Offerings

ARIS KEKEDJIAN TO LEAD GE M&A/BUSINESS DEVELOPMENT TEAM

Boston, MA - August 30, 2016 – GE announced today that Aris Kekedjian, GE Capital M&A and business development leader, will lead GE’s M&A / business development team effective September 1, 2016.  Kekedjian has led the GE Capital M&A team since 2010 and has been a central figure in the successful transformation of GE Capital into a smaller, safer company over the last 18 months.



ARIS KEKEDJIAN TO LEAD GE M&A/BUSINESS DEVELOPMENT TEAM

KEITH S. SHERIN TO RETIRE FROM GE AFTER 35 YEARS OF SERVICE RICHARD A. LAXER TO LEAD GE CAPITAL

Boston, MA - August 30, 2016 – GE announced today that Richard A. Laxer, GE Capital International president and CEO, will lead GE Capital effective September 1, 2016 as President and CEO. Keith S. Sherin, GE vice chairman and GE Capital chairman and CEO, will retire from GE effective December 31, 2016.  



KEITH S. SHERIN TO RETIRE FROM GE AFTER 35 YEARS OF SERVICE RICHARD A. LAXER TO LEAD GE CAPITAL

GE Joins With the MIT Energy Initiative to Develop Advanced Technology Solutions for Transforming Global Energy Systems

CAMBRIDGE, MA – August 30, 2016 – GE (NYSE:GE) announced it will be joining with the MIT Energy Initiative (MITEI) to fund advanced technology solutions to help transform global energy systems.  As a Sustaining Member of MITEI, GE will commit a total of $7.5 million over a five-year period ($1.5 million annually) and play an active role in MITEI’s research and project priorities. Specifically, GE will participate in four of MITEI’s Low-Carbon Energy Centers to advance research and development (R&D) in key technology areas for meeting future energy needs: solar energy; energy storage; electric power systems; and carbon capture, utilization and storage.

GE Joins With the MIT Energy Initiative to Develop Advanced Technology Solutions for Transforming Global Energy Systems

GE unlocks innovation in subsea compression and power for Shell’s Ormen Lange Pilot

Sandvika, Norway - 30 August, 2016 - Following an extensive, multi-year test program of Shell’s Ormen Lange Pilot, GE Oil & Gas is proud to announce that A/S Norske Shell has successfully completed system testing of the world’s first subsea gas compression system with a full subsea power supply, transmission and distribution system that further advances the development of hydrocarbon processing on the seabed.



GE unlocks innovation in subsea compression and power for Shell’s Ormen Lange Pilot

From GE:

GE Capital Grows U.S. Healthcare Financing 20% in 2014, Retains Top Lead Arranger Position

January 12, 2015

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BETHESDA, MD, JAN. 12, 2015 — GE Capital’s Healthcare Financial Services (HFS) business provided more than $10.5 billion in financing to customers across more than 240 transactions in 2014, an increase of 20% percent from the prior year. For the third consecutive year, GE Capital was the No. 1 lead arranger for healthcare financings up to $1 billion in size, according to Thompson Reuters.

HFS is active across 45 healthcare segments — including senior housing, outpatient services, pharmaceuticals, medical devices, hospitals and medical offices, and life sciences — financing acquisitions, refinancing existing debt, supporting working capital needs and funding early-stage commercialization efforts.

“While many segments in the healthcare industry are experiencing major changes and consolidation, others are part of a remarkable technology-driven expansion phase,” said Darren Alcus, president and CEO of GE Capital, Healthcare Financial Services. “Across all these sectors, we expect to see a high level of ongoing demand for debt financing in 2015.”

HFS supports healthcare companies in three broad areas: corporate finance, real estate finance and venture debt for life sciences companies. Below are details on each segment and examples of noteworthy 2014 transactions.

Corporate Finance
“Although the leveraged loan market was significantly altered in 2014 by a transformed regulatory environment, we had one of our most active years,” noted Al Aria, senior managing director for GE Capital, Healthcare Financial Services’ corporate finance team.

“We supported our customers in 2014 by deploying nearly $7 billion in commitments despite the choppiness in the leveraged loan and high yield markets. Deals in certain healthcare sectors with appropriate structures experienced very strong demand at historically low yields. Tougher deals with more aggressive structures required higher pricing and changes to their structures,” he added. “We also saw record M&A activity in 2014 — the highest level since 2007 — driven primarily by corporate-to-corporate deals.”

Noteworthy transaction: In May 2014, HFS served as administrative agent on a $207 million senior secured credit facility to finance Harvest Partners’ acquisition of Athletico Physical Therapy, an Oak Brook, IL-based provider of outsourced rehabilitation services with a focus on sports injuries and therapies. In December 2014, HFS served as administrative agent on a $465 million senior secured credit facility to refinance Athletico’s existing debt and to finance the acquisition of Accelerated Rehabilitation Centers, which has a network of more than 300 outpatient rehabilitation centers throughout the Midwest and Arizona.

Real Estate
In 2014, the HFS real estate segment was a leading capital provider to the healthcare industry, closing more than 110 transactions that primarily financed real estate in the long-term care / seniors housing and medical properties sectors.

“Demand for real estate accelerated last year, driven by capitalization rate compression across all our markets,” said James Seymour, senior managing director of GE Capital, Healthcare Financial Services’ real estate financing team. “This positive environment continued to attract sophisticated capital to healthcare real estate, resulting in higher property values and record transaction volumes.”

“In 2015, with interest rates so low, we expect ample liquidity to be available to real estate investors. The prospect of rates beginning to rise this year may prompt operators to consider additional consolidation or acquisition financing opportunities,” he noted. 

Noteworthy transaction: HFS was administrative agent on a $500 million credit facility for Brookdale Senior Living Inc. The funds may be used for acquisitions, working capital and capital expenditures as well as general corporate purposes. Based in Brentwood, TN, Brookdale is the leading operator of senior living communities throughout the U.S.

Life Sciences
The life sciences segment of HFS realized 25% year-over-year growth in total venture loan deal volume between 2014 and 2013. The team focuses on customers in the pharmaceutical, biotechnology, healthcare IT and medical device sectors with an emphasis on personalized medicine and molecular diagnosis.

“Last year was a strong one in both the public and private equity markets,” said Brett Haring, senior managing director of GE Capital, Healthcare Financial Services, life science finance business. “We accelerated our growth along with that of our many customers and we plan to continue to support existing and new customers in 2015.”

Noteworthy transaction: In May, HFS served as administrative agent on a $25 million credit facility for Assurex Health, a pioneer in pharmacogenomics based in Mason, OH. Assurex was planning to use the funds to help develop the emerging personalized neuropsychiatric medicine market.

About GE Capital, Healthcare Financial Services
GE Capital’s Healthcare Financial Services (HFS) business is one of the most active capital providers in the U.S. healthcare market. With in-depth industry knowledge and expertise, the HFS team of professionals creates financial solutions tailored to meet the individual needs of its customers. For more information, visit www.gecapital.com/healthcare or follow company news via Twitter (http://twitter.com/GELendLease).

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (http://twitter.com/GECapital).

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com. 

Tags

• Business Unit: Capital, Healthcare Financial Services

From GE:

GE Antares Capital Retains Position as #1 Lender to MidMarket Private Equity-Backed Companies

January 12, 2015

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• Provides $27 billion in financing across 200 transactions
• Connects 280 clients with GE’s industrial groups and research labs to accelerate growth

CHICAGO —  GE Antares, a unit of GE Capital, announced today it closed more than 200 senior loan transactions with corporate borrowers across 88 private equity firms, including 62 new platforms, totaling more than $27 billion in financing in 2014, making it the most active lender to private equity-backed companies in the middle market.

“In 2014, our focus was on providing our clients with flexible financing structures along with consistent, reliable commitments,” said John Martin, president and CEO of GE Antares Capital. “Additionally, through our unique value-creating collaboration, the Access GE program, we partner our clients up with GE’s industrial businesses and its global research labs to help mid-market borrowers realize new growth opportunities.”

In addition, GE Antares closed $2.5 billion in commitments in 2014 through the Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital Corporation and an affiliate of GE Capital. Since January 2010, the SSLP has committed approximately $16.8 billion to middle market borrowers, most of it in the form of unitranche loans that provide clients with faster closings using simpler loan structures.

“Despite ongoing economic uncertainty, the U.S. midmarket continues to be a key engine of growth for the economy,” commented Martin. “We are committed to helping this critical segment of our economy continue to innovate and succeed and will look to continue to deliver beyond the deal, connecting our clients to GE’s deep industry expertise, such as in the aerospace, technology and energy sectors.”

In 2014, GE Antares held 330 one-on-one Access GE engagements, touching 280 unique borrowers who leveraged GE’s global insights, resources, tools and best practices. Through GE Antares’ partnership with the GE Global Research Center (GRC), one of the world’s first industrial labs, and GE’s industrial businesses, GE Antares originated 60 potential joint R&D projects, new supplier relationships and licensing partnerships with private equity clients and their portfolio companies.

Expanding its coverage of sponsors serving the lower middle market, GE Antares added three senior bankers in 2014 who closed lower midmarket transactions totaling $250 million.

Examples of 2014 loan transactions:

Institutional Shareholder Services, Inc.

GE Antares served as administrative agent on a $260 million senior secured credit facility to support the acquisition of Institutional Shareholder Services (ISS) by Vestar Capital Partners. Headquartered in New York, NY, ISS is the leading global provider of corporate governance solutions for asset managers, asset owners, and corporations, employing approximately 700 people globally with 15 offices in 10 countries.

"GE Antares did an outstanding job executing this first and second lien financing," said Andy Cavanna, managing director of Vestar Capital Partners. "We knew GE would be an excellent financing partner for ISS given their capital markets expertise as well as their institutional experience in corporate governance."

Technimark, LLC

GE Antares served as administrative agent on a $251 million senior credit facility to support The Pritzker Group’s acquisition of Technimark, LLC. Founded in 1983, Technimark is a plastic injection molder of packaging for consumer products and industrial components.

Gulfstream Services, Inc.

GE Antares served as administrative agent on a senior secured credit facility to support the acquisition of Gulfstream Services, Inc. by The Jordan Company, L.P., in partnership with the existing management team. Founded in 1978 as Bayou Pump Rentals, Gulfstream Services, Inc. is an oilfield rental tools & services company that specializes in pressure control equipment, cementing systems, wireline support and decommissioning equipment.

“GE’s extensive expertise in the oil & gas industry and flexible financing structures made them the ideal lender on this transaction. Their ability to move quickly also helped us land a swift execution,” said Pete Suffredini, vice president at The Jordan Company.

About GE Antares Capital

GE Antares is a unit of GE Capital. With offices in Atlanta, Chicago, Los Angeles, Toronto, New York, and San Francisco, GE Antares is a leading middle market lender, offering a “one-stop” source for GE’s lending and other services offered to middle market private equity sponsors. GE Antares was recognized by Private Debt Investor and Private Equity International as 2013 Lender of the Year, North America and Mid-Cap Lender of the Year, North America, respectively. For more information, visit geantares.com.

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital).

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com

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• Business Unit: Capital, Sponsor Finance / Antares
• Region: North America
• Topics: Customers

From GE:

GE Selects Omaha, Neb., Salt Lake City and Parker, Colo., to Test Popularity of Brightly-Colored Refrigerators

January 8, 2015

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• Consumers can pick a sweet or spicy hue to add flavor to their kitchens with GE’s
  Artistry™ brand
• Three appliance retailers to offer GE’s Cupcake Blue and Red Pepper—Omaha’s Nebraska Furniture Mart, Salt Lake City’s RC Willey and Parker’s Appliance Factory
• Consumer response in these markets will determine color options on a national level

LOUISVILLE, Ky. — Jan. 8, 2015— GE (NYSE:GE) is experimenting with color—and at an affordable price point, which is nearly unheard of in the appliance industry.

The company is producing refrigerators that involve a pop of color—Cupcake Blue and Red Pepper. The colors, determined by an online consumer poll, will be available on the Artistry™ refrigerator and available in limited quantities at three retailers in the U.S.

“Consumers who want a pop of color or something that just stands out will be drawn to these new colors,” says Lou Lenzi, director of GE’s industrial design operation. “The new color choices from GE give consumers more opportunity to personalize their kitchen in a way that’s been traditionally reserved for high-end appliances.”

Response to the light blue and bold red in these markets will determine whether GE will go into full-scale production to offer the new colors on a national scale. The colorful refrigerators will be available in early January 2015 at Nebraska Furniture Mart, RC Willey and Appliance Factory in limited quantities.

“We’ve partnered with three great retail partners who like to experiment,” says Lenzi. “These retailers are having success with the Artistry line, so their showrooms are perfect locations to see if this trend toward more colorful appliances is ready for mainstream.”

Color options illustrate GE’s strategy to let consumer choice rule 
The vibrant shades on the Artistry line exhibit the new way GE is bringing new products to market. In situations similar to this launch of new color options, a new idea is researched, and then quickly implemented on a small scale. Depending on consumer adoption, the idea can be scratched or expanded. The process allows GE to bring new products to market more quickly and more confidently with consumer validation.

The MSRP for either color refrigerator is $1,500.*

About GE Appliances
GE Appliances is at the forefront of building innovative, energy-efficient appliances that improve people’s lives. GE Appliances’ products include refrigerators, freezers, cooking products, dishwashers, washers, dryers, air conditioners, water filtration systems and water heaters. General Electric (NYSE: GE) works on things that matter to build a world that works better. For more information on GE Appliances, visitwww.ge.com/appliances.

*Retailers determine price.

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• Business Unit: Appliances