GE Vernova to represent GE’s Renewable Energy biz

GE Power China

GE announced the brand names of the future companies by separation of public companies focused on the growth sectors of healthcare, energy, and aviation.

GE HealthCare will be the name of GE’s healthcare business.

GE Vernova will represent GE’s existing energy portfolio of businesses, including Renewable Energy, Power, Digital, and Energy Financial Services.

GE Aerospace will be the name of GE’s aviation business.

All three planned companies will benefit from GE’s heritage and global brand valued at nearly $20 billion.

“Built on a foundation of lean and innovation, these brands will continue our mission of building a world that works and provide our customers with an important reminder of the strengths they value in GE,” H. Lawrence Culp, Jr., Chairman and CEO, GE, and CEO, GE Aerospace said.

GE aims to execute the tax-free spin-off of GE HealthCare in early 2023, creating an independent company driving innovation in precision health to improve patient outcomes and address critical patient and clinical challenges.

In early 2024, GE plans to execute the tax-free spin-off of GE Vernova, GE’s energy businesses, which together with its customers provides one-third of the world’s electricity and is focused on accelerating the path to reliable, affordable, and sustainable energy.

GE Vernova has an installed base of more than 7,000 gas turbines and 400 GW of renewable energy equipment.

GE Aerospace has an installed base of 39,400 commercial and 26,200 military aircraft engines. GE Aerospace would own the GE trademark and would provide long-term licenses to the other companies.

“Based on data and analysis drawn from thousands of conversations, it became clear that the GE name and our century-plus old Monogram represent a legacy of innovation, symbol of trust by global customers, pride for our team, and a talent magnet for future leaders,” GE Chief Marketing Officer Linda Boff said.