GE’s portfolio of energy businesses, including GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services are to come together under the GE Vernova brand name.
The company said that in early 2024 it plans to execute the tax-free spin-off of GE Vernova.
It said 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 and innovative era of lower carbon energy that GE Vernova will help deliver.
These attributes also are reflected in GE Vernova’s new ‘evergreen’ brand colour.
The move is part of a wider reorganisation of GE into three separate companies, with GE HealthCare and GE Aerospace being the other two organisations.
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.
“We’re proud these future businesses will be able to build on GE’s DNA of innovation.”