Ex-GE Power Engineer Implicated in Turbine Technology Theft for China’s Benefit   

Credit to Author: Sonal Patel| Date: Thu, 25 Apr 2019 14:19:51 +0000

A former GE Power engineer and a Chinese businessman conspired to steal General Electric (GE) trade secrets related to gas and steam turbine technologies to benefit China, the U.S. Department of Justice (DOJ) has alleged in an indictment unsealed on April 23.  The 14-count indictment charges Xiaoqing Zheng, 56, of Niskayuna, New York, and Zhaoxi […]

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GE Power Engineer Implicated in Turbine Technology Theft for China’s Benefit   

Credit to Author: Sonal Patel| Date: Thu, 25 Apr 2019 14:19:51 +0000

A former GE Power engineer and a Chinese businessman conspired to steal General Electric (GE) trade secrets related to gas and steam turbine technologies to benefit China, the U.S. Department of Justice (DOJ) has alleged in an indictment unsealed on April 23.  The 14-count indictment charges Xiaoqing Zheng, 56, of Niskayuna, New York, and Zhaoxi […]

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The Line Blurs Between Small Cogen Plants and Large Combined Cycles

Credit to Author: Aaron Larson| Date: Wed, 06 Mar 2019 00:39:54 +0000

When U.S. President Jimmy Carter signed into law the Public Utility Regulatory Policies Act of 1978 (PURPA), he unintentionally ignited the worldwide deregulation of electricity markets, which in turn began a worldwide technology race between two distinct types of power plants: the newly created, industrial-scale plant that PURPA dubbed “cogeneration” and the traditional, utility-scale power […]

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UAE Adds Gas Power to Its Mix and Renewables Abroad

Credit to Author: POWER| Date: Fri, 01 Mar 2019 00:00:00 +0000

The January agreement between GE and Japan’s Sumitomo Corp. for a 1.8-GW combined cycle power plant in the United Arab Emirates (UAE) is part of the country’s commitment to increasing its power generation

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GE Selling Biopharma Unit in $21.4 Billion Deal

Credit to Author: Darrell Proctor| Date: Mon, 25 Feb 2019 21:32:59 +0000

General Electric’s (GE’s) sale of its biopharma unit on February 25 is designed to reduce the company’s overall debt load, and CEO Larry Culp said the deal is the latest step in his plan to strengthen the whole of GE, particularly the company’s struggling Power division. GE on Monday agreed to sell the biopharma part […]

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Financial and Gas Turbine Blade Troubles Plague GE Power

Credit to Author: Sonal Patel| Date: Thu, 07 Feb 2019 14:27:09 +0000

GE Power’s financials spun out further on a dismal trajectory during the fourth quarter of 2018, plagued by slack market demand for products and services, technical glitches of a flagship gas turbine model, and poor project execution. Despite a series of divestments and corporate reshuffles, including of leadership, for the 12 months that ended on […]

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GE Restructure Will See Leaner Power but Heftier Renewable Energy Division

Credit to Author: Sonal Patel| Date: Wed, 30 Jan 2019 16:28:11 +0000

GE has announced it will integrate its renewables, grid, and energy storage assets into a simplified, single business that nearly doubles the size of its Renewable Energy division, as the company banks on the accelerated uptake of grid-connected renewables worldwide.  The expansion will see GE’s grid solutions, solar solutions, and storage businesses move from GE […]

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Business and Leadership Shakeups Continue at GE

It’s been a tumultuous couple of years for GE. The company’s stock price has been decimated by the market, decreasing more than 75% from a high of nearly $32 a share as recently as December 2016. Dow Jones removed the company from its benchmark Industrial Average in June, and GE’s Board of Directors sacked CEO […]

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Flannery Takes Fall for GE Power Struggles

GE announced that H. Lawrence Culp Jr. has been named chairman and CEO of the company replacing John Flannery effective immediately. GE’s board of directors voted unanimously on the decision, and it also appointed Thomas W. Horton as lead director. In a press release, GE specifically cited weak performance in the GE Power business for […]

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GE Gas Turbine Blade Issue Concerns Analyst

Lead analyst Stephen Tusa lowered J.P. Morgan’s rating on GE stock after “checks on two initial U.S. installations revealed failures of the first stage blade of GE’s H-frame gas turbine,” thestreet.com reported on September 20. Tusa—who has long been critical of GE’s prospects—reportedly wrote, “The impact on ‘asset value’ from a failure at GE’s U.S. […]

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