GE Vernova Reportedly Taps French AI Firm Alteia SAS To Modernize Grid Checks

GE Vernova (GEV) is set to acquire French software firm Alteia SAS to integrate artificial intelligence into grid inspection and damage assessment.

GE Vernova’s stock rose as much as 1.6% in pre-market trade on Monday. On Stocktwits, retail sentiment around the company jumped to ‘extremely bullish’ from ‘bullish a day ago amid ‘high levels of chatter.

The deal is expected to close on August 1. The transaction terms were not disclosed. GE Vernova said the acquisition is a part of its strategy to help utilities enhance operational systems. It will be a part of the company’s GridOS portfolio, which allows utilities to proactively plan for and operate the electric grid through disruptive events such as storms and wildfires that can impact the availability of reliable power.

Scott Reese, the head of GE Vernova’s electrification software business, stated that the deal will help the company address “critical pain points” in utilities, enabling them to prevent disruptions and restore power quickly.

GE Vernova already offers Alteia’s software to customers through its Visual Intelligence product, which helps utilities “see” the grid and assess damage. The maker of power generation equipment said the deal will provide it with access to Alteia’s AI-based software. 

The France-based company analyzes visual data, such as photographs, to detect potential grid damage, identify areas where vegetation needs to be cleared, and assess post-disaster infrastructure. GE Vernova said that the acquisition will help further integrate visual data and operational data from core systems.

GE Vernova’s stock has gained 72% this year and more than quadrupled over the past 12 months.

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