Published: April 5, 2024 |

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GE Vernova said it has completed its spin-off from GE and it will begin trading as an independent company on the New York Stock Exchange (NYSE).

“Today, GE Vernova becomes an independent company singularly focused on accelerating the energy transition to create a more sustainable future. 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 improved quality of life,” said Scott Strazik, CEO of GE Vernova.

“GE Vernova is purpose-built to electrify and decarbonize 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,” added Strazik.

GE Vernova has more than 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 more than 7,000 gas turbines — the world’s largest — approximately 55,000 wind turbines, and leading-edge electrification technology, GE Vernova helps generate approximately 30 percent of the world’s electricity.

GE Vernova serves a vital $265 billion industry segment that is estimated to grow to $435 billion by 2030. Increased electrification and decarbonization needs offer major opportunities, with generation capacity projected to more than double by 2040. To capitalize 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 Vernova is a planned, purpose-built global energy company that includes power, wind, and electrification segments and is supported by its accelerator businesses of advanced research, consulting services, and financial services. Building on more than 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 80,000 employees across 140+ countries around the world.

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