GE Announces Filing of Form 10 Registration Statement for Planned Spin-Off of GE Vernova
GE Vernova, a global leader driving electrification and decarbonization, to become standalone public company
- GE Vernova is well-positioned for multi-decade secular growth driven by the energy transition
- Latest milestone as GE Vernova prepares to spin-off in early April following strong 2023 results and continued momentum
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GE’s financial position is strong to support forming
GE Vernova and GE Aerospace as well-capitalized, investment-grade companies
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GE Vernova Form 10 Highlights (Graphic:
GE Vernova CEO
Highlights from Form 10
The Form 10 highlights how GE Vernova is:
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A purpose-built company driving electrification and decarbonization, well-positioned for multi-decade secular growth driven by the energy transition and serving 20% of a growing
$1.4 trillion market; innovating technology and advancing global sustainability with more than 80,000 employees in over 100 countries and$1 billion in R&D investments in 2024. - A global leader providing the electric power industry with a unique scope and scale of solutions, including products and servicesthat generate, transfer, orchestrate, convert, and store electricity across a sizable 2,200 GW global installed base and by delivering new technologies.
- Strengthening profitability to deliver shareholder value; driving safety, quality, delivery, and cost using its lean operating model.
GE Vernova will be organized into three operating segments:
- Power: includes design, manufacture and servicing of gas, nuclear, hydro, and steam technologies, providing a critical foundation of dispatchable, flexible, stable, and reliable power;
- Wind:includes wind generation technologies, inclusive of onshore and offshore wind turbines and blades that serve utilities, renewable developers, independent power producers, and commercial customers to provide carbon-free power generation; and,
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Electrification: includes grid solutions, power conversion, solar and storage solutions, collectively referred to as Electrification Systems, and digital technologies, referred to as
Electrification Software , required for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption.
GE Vernova is also supported by its Accelerator businesses, of
Additional Information
GE Vernova is expected to spin off from
The planned spin-off of GE Vernova is intended to be tax-free for
Investors, media, and the general public are invited to learn more about the pending spin-off at https://www.ge.com/investor-relations/spinoff-resources. Future updates to the Form 10 will be filed with the
Forward-looking Statements
This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, including (1) our success in executing planned and potential transactions, including our plan to pursue a spin-off of GE Vernova, and sales or other dispositions of our remaining equity interest in
About
About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses and is supported by its accelerator businesses of
GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.
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