Reflections from the Milken Institute’s 25th Annual Global Conference
I was honored to speak at the Milken Institute's 25th Annual Global Conference last week. The conference could not come at a more defining moment for the energy transition. The actions we take today will play a critical role in meeting the climate and decarbonization goals for the future.
At the "Breakthrough Technologies Redefining Our Energy Future" event, I had the opportunity to open the session by discussing how GE is innovating the technology the world needs to accelerate toward a lower-carbon future.
As a 130-year-old innovation company that serves customers and communities in more than 175 countries, GE is passionate about our role in solving the world’s most pressing sustainability challenges. We also understand that our success in the energy transition requires us to go beyond sustainability. It will require solving the energy "trilemma" of affordability, reliability, and sustainability for everyone around the world. The tragedy in Ukraine has brought the energy trilemma into even sharper focus, particularly the issue of reliability.
It will take breakthroughs across the entire energy industry to meet the challenges presented by the full trilemma, a combination of wind, gas, nuclear technology and a modernized grid. We are making strides thanks to innovative new technology on all fronts, from our Haliade X, the world’s first 14MW offshore wind turbine, to powering the first commercial gas turbine plant to run on a hydrogen blend just last week. You can read more about that project here.
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Nuclear is a part of this solution. GE Hitachi's small modular reactors, or SMRs, are an advanced nuclear technology that produces carbon-free electricity, and can be deployed at a faster and lower cost than its conventional counterparts. This technology is in its early stages but will play an important role in the future of energy, with initial deployments in Canada expected as soon as 2028.
I also had the opportunity to join the session's panel with Bill Gross, Bob Mumgaard, and Sascha von Meier, who shared the innovative energy breakthroughs they are driving. The conference's theme of the "power of connection" could not be more apparent in this session. We know it will take more than one company, government, or entity to solve the energy challenges we face.
As my fellow panelist Bill Gross said so well, it will take 1,000 shots on goal to meet this challenge, but I am optimistic that we can do it. This is a challenge that our country, and our company, is wired for, but we must seize on the opportunity today, to make this a decade of action. From the companies, governments and other leaders represented at the conference this week, I think it is clear that we can, and must, meet the challenge.
President - Public Sector, FirstNet & Healthcare at AT&T – Delivering business outcomes through innovation | Mentor | D&I Champion
2yIt’s exciting to hear about all the technology innovations GE has ahead, Larry. The roadmap you have set up will no doubt improve the lives of #businesses and consumers, alike.
Técnico de Apoio 1 / Logística / Certificado Techdirect Dell.
2yVery incredible see this conference! Congrats mr. Larry Culp
TPS/TPPM @ GPS Global | True Lean Manufacturing, Mech Engineering
2yMr. H. Larry Culp, you sir, are the leader of the World's Largest "Fools - Gold" Industry. You may be a wizard of making GE Stock look valuable, in the bonuses investment of GE Daily Share Price Manipulation of the S&P with 68% of JPM's GE Share Holders, alas the new Global Payment system is about to make your Company, GE look like... "Fool's Gold!" Solution: "GE's Fool's Gold of International Global Supply Chain"! This will also include BA, Safran an USA Military MFG. Wind Power (ETC>) Connections! It, implement's the fully automated solution to global trade automation, and this will not solely involve a digitization of global trade documents. The solution is a visualization of global trade manifests; geolocation of shipments, EDI, the entrusted matching of purchase orders with select invoices of the seller. It will also involve the provision of working capital (cash flow) to the exporter's vendors with Supply Chain Finance; "GE", Has "NO +FCF" for Global Trade Payments, projected for the next 2.5 Years, how will GE Operate in this New Global Automated - Auto Payment System? "I will gladly pay you tomorrow for a Fresh Hamburger... Today? You sir are playing a game of hid & seek for the truth in, (GE Global) S&P (FCF), reporting!
TPS/TPPM @ GPS Global | True Lean Manufacturing, Mech Engineering
2yLarry, here is a Quote, you may want to read very carefully! What Group do you really think that GE Falls... Into? Is GE (Winners:) with u at the Helm or is GE Losers: with you still at the Helm?
TPS/TPPM @ GPS Global | True Lean Manufacturing, Mech Engineering
2yYou know Larry, you have some, Gaul...? "From the companies, governments and other leaders represented at the conference this week, I think it is clear that (we) can, and must, meet the challenge." (You won't be at GE Global in 1-2 Years let alone a decade from today) ...? Larry, just who is, "WE", paying the bill for your and GE's Payroll of Believers in the "World's Largest Collection of Tooth Faires"? GE's Current Yield = +.42% almost every day since you took the GE Oath! (Not even a (+1%)? GE's EPS = -4.54 and it hasn't changed in a Positive FCF Way in over 19 Months! Inflation in the USA is out of control, with the USG... donating scraps of Funding to GE for Zero CO2 Footprint (H) for GE Jet Eng. Testing! Remember Guns & Butter, in High School, they don't teach that at "HARRRVARD", anymore, do they? When the stores in the USA don't have food & life essentials on the shelves and the Power companies charge you... $500 +a month for Electric and NG, +$5 a Gal. / GAS, when u are out of work and cannot pay the rent? Remember 1929, 1933-1939, 1980, 2008 and 2019, just roll it all up and spell... "America the Beautiful", full of, building a world that work's... you really honestly believe that? This fairy tale will not last!