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ge nuclear energy posts

GE after the bell 10/3/06: confidence in a nuclear energy renaissance

Posted Oct 3rd 2006 5:28PM by Tobias Buckell (RSS feed)
Filed under: After the Bell, Products and Services, Industry, Competitive Strategy, General Electric (GE)

General Electric Company (NYSE: GE) is having a strong week, up today 21 cents and 0.59% to end at $35.71. Yesterday Prudential said that it believed GE was poised to improved 'indefinitely' due to its profits and diversified industries. Renewed confidence in NBC also played a part in GE confidence.

GE is also celebrating its 50th year as a nuclear energy business. GE entered in 1956, and in 2003 began to prepare for a renaissance in western markets. It has since invested $78 million in a new facility in Wilmington, North Carolina, and is building an advanced reactor technology design center. GE clearly sees this as a forward-looking investment in a world that will need alternative energy sources.

GE to build more nuclear plants

Posted May 19th 2006 5:06PM by Tobias Buckell (RSS feed)
Filed under: Press Releases, Industry, Competitive Strategy, General Electric (GE)

Well this is probably not going to be promoted under GE's Ecomagination series: GE is expecting two new contracts to build nuclear power plants.

The company already has a series of nuclear power plants under management for Entergy Corp, so this will put GE in a position of being a nuclear plant leader, and part of an initiative by the current administration to invest more in nuclear power. GE will be working on building five new nuclear power plants.

The last nuclear power plant in the US had been finished in 1971, so GE is in position to become the forefront of this total sea change, prompted by fears of foreign oil dominance, high oil prices, and higher need for energy. Another example of GE looking forward.

And with Greenpeace founder Patrick Moore making an impassioned case that nuclear is the true green technology, maybe GE will be able to tout nuclear energy as part of their Ecomagination line of technologies. Or not...