GE energy business to be renamed Vernova

July 18, 2022 at 10:58 AM EDT

In early 2024, GE plans to execute the tax-free spin-off of GE Vernova, the company’s portfolio of energy businesses, which it says provides one-third of the world’s electricity along with partners.

On July 18, GE announced the brand names of the future companies it will create through its planned separation into three public companies focused on healthcare, energy, and aviation.

In early 2024, GE plans to spin-off GE Vernova, the company’s portfolio of energy businesses, which it says provides one-third of the world’s electricity along with partners. The company will continue its focus on providing reliable, affordable, and sustainable energy.

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The new name is a combination of “ver,” derived from “verde” and “verdant” to signal the greens and blues of the Earth, and “nova,” from the Latin “novus,” or “new,” reflecting a new era of lower carbon energy that GE Vernova will help deliver. These attributes also are reflected in GE Vernova’s new “evergreen” brand color, it said.

With an installed base of more than 7,000 gas turbines and 400 GW of renewable energy equipment, GE Vernova’s Monogram will serve as a reminder of the company’s commitments to deliver quality, partnership, and ingenuity to its customers, said GE.

GE HealthCare will be the name of GE’s healthcare business, spinning off in early 2023. GE Aerospace will be the name of GE’s aviation business after the other two companies are independent. All three planned companies will continue to use GE’s global brand valued at nearly $20 billion, according to Interbrand Best Global Brands 2021.

GE Chief Marketing Officer Linda Boff said, “Over the course of the last six months, we engaged in a thorough, customer-led process to understand the intrinsic value of the GE brand for our planned future 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.”

The plans may be subject to the outcome of legally mandated consultation in some parts of the world.