General Electric on Monday revealed the names of the three companies that will operate on their own after the former conglomerate’s historic split, including a jumble of words that will make up the name of the new energy company.
In November, GE announced it would split into three companies focused on aviation, healthcare and energy.
The name of the aerospace business that will essentially be the remaining core of GE, led by CEO Larry Culp, will be called GE Aerospace.
The energy wing, comprising GE Renewable Energy, GE Power, GE Digital and GE Energy Financial Services, will be called GE Vernova.
“The new name is a combination of ‘ver’, derived from ‘verde’ and ‘verdant’ to signify the earth’s greens and blues, and ‘nova’, from the Latin ‘novus’ or ‘new’, reflecting an era new and innovative low-carbon energy that GE Vernova will help deliver,” the company said Monday.
The healthcare business will be called GE Healthcare.
The company has already gotten rid of products most Americans know it for, including its home appliances, and in 2020 light bulbs that GE had been making since the late 19th century.
The company announced on Monday that GE HealthCare would trade on Nasdaq under the ticker symbol “GEHC.” GE plans a tax-free spin-off of the company early next year.
GE Vernova is expected to be spun off in early 2024. Once the spinoff is complete, GE will be an aviation-focused company that will own the GE brand and provide long-term licensing to the other companies.