RAPID

GE to Invest Nearly $500M in US Manufacturing, Including 3D Printing

Eplus 3D

Share this Article

In the latest signal that the pillars of US industrial output are serious about building on last year’s growing momentum to reshore the nation’s manufacturing, GE announced that it plans to invest over $450 million in 2023 in the company’s existing manufacturing facilities. These plans include at least $16 million that will go directly to additive manufacturing (AM), set aside for the firm’s aerospace facilities in Auburn, Alabama.

The Auburn offices of GE Aviation (now GE Aerospace). Image courtesy of GE

Moreover, with a total of well over $300 million of the investment being directed towards GE Aerospace (formerly GE Aviation), it is safe to assume that far more than the confirmed $16 million will flow into the 3D printing sector. GE Aerospace is one of the founding members of the Biden administration’s AM Forward initiative, which entails a voluntary compact by some of the nation’s largest manufacturing companies to significantly and rapidly ramp up the 3D printing capacity in their supply chains.

The remaining funds — over $110 million — will go to GE Vernova (the new name for GE Renewable), and 3D printing companies are also well-positioned to receive a significant chunk of that money. Last year, for instance, after joining forces with Danish additive construction (AC) leader COBOD to build the world’s largest concrete printing plant, in Bergen, NY, for wind energy production, GE Vernova became a minority investor in COBOD. It is relevant, then, that $20 million of the investment in GE Vernova will go towards wind turbine production at the company’s plant in Pensacola, FL.

In a press release announcing GE’s latest, nearly half-billion dollar investment in US manufacturing, the CEO of both GE and GE Aerospace, H. Lawrence Culp Jr., commented, “The investments we’re making this year support cutting-edge technology that will help advance the next-generation of aerospace manufacturing, ensuring a strong future for our employees, our business, the industry, and our commercial and military customers.”

GE Vernova CEO, Scott Strazik, added, “By improving capacity and modernizing facilities, GE Vernova will be well positioned to further drive decarbonization, increase electrification, and lead the energy transition. These investments will ensure our employees and facilities are ready to support US energy independence and sustainability goals, while positioning the company for long-term stability and success.”

The world’s largest concrete printer, built by COBOD for GE Renewable (now GE Vernova). Image courtesy of GE and COBOD

The company notes that this investment is in large part designed to prime GE companies to maximize their potential to receive funds from the Inflation Reduction Act. Perhaps most importantly, the plan will enable GE Aerospace and GE Vernova to hire over 1,700 workers to fill existing job openings, alone.

And, finally, the investment is designed to ensure that GE Vernova and GE Aerospace are in as ideal a spot as possible before those divisions spin off into their own companies in 2024, following the recent spin-off of GE HealthCare. I believe this kind of strategy could be the future for giant American conglomerates, so GE’s transition over the next couple of years is of particular importance for observers in the US financial sector. The fact that GE is putting that transition on sure footing specifically by making such a hefty down payment on infrastructure modernization should signal that more of the same is on its way from other corporate giants.

Share this Article


Recent News

Gridfinity Could Bring 3D Printing Into Any Home and Many Businesses

printpal.io Joins Other 9,000+ AI startups in Nvidia Program



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

3D Printing Webinar & Event Roundup: March 19, 2023

We’ve got lots of events to tell you about in this week’s roundup, starting, of course, with AMUG 2023 in Chicago. There’s also the Silicone Expo Europe, Engineering Solutions Live,...

Construction 3D Printing Company ICON Enters Hospitality Market with Signature Boldness

ICON, an additive construction (AC) company based in Austin, TX, announced that it has partnered with hotelier Liz Lambert in a project that will relocate and expand the El Cosmico...

Large Format 3D Printing Company Caracol Closes Over €10M Series A Round

Caracol, an Italian additive manufacturing (AM) company specializing in large format platforms, announced that it has closed its Series A financing round, in which it attracted €10.6 million (about $11.34...

Featured

Electrochemical 3D Printing Startup Fabric8 Closes $50M Round

Fabric8 Labs, a San Diego-based metal 3D printing startup, announced that the company has closed its Series B financing round. Led by venture capital firm New Enterprise Associates (NEA), the...