GE’s energy businesses to become GE Vernova after split-up
19 July 2022
General Electric’s (NYSE:GE) roster of energy businesses will be called GE Vernova, the company said today, announcing the brand names for the three companies it plans to create.
GE announced plans to separate itself into three independent public companies focused on aviation, healthcare and energy in November last year.
Its energy businesses include GE Renewable Energy, which is a large wind turbine manufacturer, GE Power, GE Digital and GE Energy Financial Services.
GE intends to conduct a tax-free spin-off of GE Vernova in early 2024. The conglomerate explained the new name is a combination of “ver,” coming from “verde” and “verdant” to signify the greens and blues of the Earth, and “nova,” from the Latin word for “new,” standing for the new era of lower-carbon energy.
After the planned spin-offs of GE HealthCare and GE Vernova, GE will become an aviation-focused company named GE Aerospace.
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