GE Vernova completes spin-off and begins trading on New York Stock Exchange

In a first for the NYSE, GE Vernova and GE Aerospace, which also launched as an independent company on April 3, rang the opening bell together at 9:30am ET.

“GE Vernova becomes an independent company singularly focused on hurriedly the energy transition to create a more sustainable future,” said Scott Strazik, CEO of GE Vernova. “Our power, wind, and electrification segments provide essential products and services to the electric power industry as we work to meet the growing power demands of economies and deliver electricity that is vital to health, safety, security, and improving quality of life. GE Vernova is purpose-built to electrify and decarbonise the world, and I'm incredibly proud of what our team has accomplished with this milestone and excited to continue this journey alongside our customers and shareholders.”

GE Vernova has over 80,000 employees across more than 100 countries. Many of the world's leading utilities, developers, governments, and large industrial electricity users rely on its installed base to generate, transfer, orchestrate, convert, and store electricity reliably and efficiently. With an installed base of over 7,000 gas turbines, the world's largest, approximately 55,000 wind turbines, and leading-edge electrification technology, GE Vernova helps generate approximately 30 per cent of the world's electricity.

In Vietnam, GE Vernova provides up to 30 per cent of the country's electricity needs, with an installed power generation capacity of about 40GW. GE's fleet in Vietnam includes over 20 gas turbines, and services over 10 power plants and projects.

The Phu My Reconditioning Workshop and Dung Quat HRSG manufacturing plant are world-class facilities serving customers from around the world as parts of GE's global network of repair and manufacturing capabilities, while GE Renewable Energy's Haiphong factory is one of five GE factories in the world that manufactures generators and components for wind turbines in response to the growing global demand for wind power generation and in support of cleaner energy production.

GE Vernova serves a vital $265 billion industry segment that is estimated to grow to $435 billion by 2030. Increased electrification and decarbonisation needs offer major opportunities, with generation capacity projected to more than double by 2040.

To capitalise on this opportunity, the company is focused on executing with sustainability, innovation, and lean at its core, and is building on its history of innovation by investing approximately $1 billion annually in research and development to drive breakthrough energy transition technologies.

GE brand trio to shape the future of key industries GE on July 19 announced the brand names of the three future companies it will create through its planned separation into healthcare, energy, and aviation.

GE spinoff's goal to resonate at a local level Last year, General Electric underwent a significant transformation by splitting into three separate companies: GE HealthCare, GE Vernova, and GE Aerospace. As the spinoff unfolds in the Vietnam market, Rania Rostom, head of GE's Global Communications and Marketing, talked to VIR's Linh Le about the profound implications and shared insights on the company's strategies during this pivotal phase.

GE transformation journey General Electric (GE), a 130-year-old industrial conglomerate known for its innovations in energy, aviation, and healthcare, is embarking on a transformative journey that will see it split into three independent companies. This strategic shift marks a significant chapter in GE's storied history, underpinned by a carefully orchestrated communication strategy to navigate this complex transition.