Steve Bolze, former CEO of GE Power and Water, joins INGU board

INGU board welcomes Steve Bolze, former CEO of GE’s power and water business and former senior managing director of Blackstone

HOUSTON, August 8, 2023 – INGU is excited to announce that Steve Bolze, a long-time senior executive with General Electric and former senior managing director with Blackstone, is joining its board of directors.

Bolze, who recently launched Standish Spring Investments to support founders scaling early and growth stage organizations that support the energy transition, will join current board members Mark Menke, former general manager mergers and acquisitions at Chevron; Michael Riedijk, serial entrepreneur and cleantech investor; George Coyle, founder and managing partner of Energy Innovation Capital; and John van Pol, founder and CEO of INGU.

“INGU’s vision and technology are on track to transform pipeline integrity management in the oil and gas, water, and mining sectors,” said Bolze. “I am impressed by the uniqueness of their solution, pairing AI-powered data analytics with an advanced sensor system to create a pipeline inspection solution that is economical, scalable, and has already been adopted by world leading players like Chevron and Williams, who are not only customers but also investors. I am excited to join John and the board in helping INGU grow its position in serving a more than $6 billion global pipeline inspection market.”

Prior to launching Standish Spring Investments, Bolze was a senior managing director and head of infrastructure portfolio operations and asset management for Blackstone’s dedicated infrastructure business. He was one of the founding partners of Blackstone’s infrastructure investment fund, valued at more than $25 billion currently, and partnered with portfolio company CEOs to drive key value creation initiatives.

Before joining Blackstone, Bolze had a nearly 25-year career at General Electric, during which time he successfully led several of the company’s largest businesses. In his last role as President and CEO of GE Power and Water, he oversaw the company’s $28 billion power generation and renewables business, operating in over 140 countries with 52,000 employees; at the time its technology helped provide more than one-quarter of the world’s electricity.

“We are thrilled to welcome Steve to our board. His combination of industry and financing experience forms a unique perspective that complements the experience of our other board members,” said Van Pol. “With our talented team and the support of our experienced board, INGU is well positioned to disrupt the pipeline integrity market and become an integral part of the energy transition in the oil and gas, water, and mining sectors.”

About INGU

INGU is revolutionizing pipeline integrity programs, providing critical information on pipeline condition over the full length of the pipeline under operational conditions. This allows operators to take a targeted, informed approach to their pipeline integrity program and keep their pipelines operating safely and efficiently.

The INGU Pipers® patented solution pairs a powerful, free-floating sensor system with machine learning based data analytics. Using the multi-sensor suite, Pipers® accurately identify and locate potential issues like leaks, deposits, and changes in wall condition that threaten pipeline health – without disrupting operations.

Pipers® are trusted by global leaders like Chevron, Perenco, Total, Pan American Energy, Shell, and OMV, and have already been deployed in 30 countries around the world.

Pipers® are the most efficient and economic pipeline inspection solution to reach Net Zero and ESG compliance for pipeline infrastructure and are positioned to be the first ever operating system for pipeline integrity.