American conglomerate General Electric plans to name its portfolio of energy businesses GE Vernova after it merges its renewable energy, power, digital and energy financial services units and spins them off in early 2024.
The new name is a combination of ‘ver’ – derived from ‘verde’ and ‘verdant’ to signal the greens and blues of the Earth, GE explained – and ‘nova’ – from the Latin ‘novus’, or ‘new’, reflecting a new and innovative era of lower carbon energy.
GE had announced its intention to split into three companies and plans to divest from healthcare and energy in November 2021.
It also intends to spin off its healthcare business unit in early 2023 and to focus on aviation after the energy spin-offs.
