General Electric (GE) Files Form 10 for GE Vernova Spinoff

GE (NYSE: GE) today announced the filing of its Form 10 registration statement with the U.S. Securities and Exchange Commission (“SEC”) for the planned spin-off of GE Vernova. A copy of the Form 10 is available on the SEC website at www.sec.gov. Downloadable historical financial and pro forma financial information can also be accessed as an attachment to this press release and here.

GE Chairman and CEO and GE Aerospace CEO H. Lawrence Culp, Jr., said, “Today’s filing underscores GE Vernova’s important progress toward its spin-off as an independent, global leader driving electrification and decarbonization. Our financial position is strong to support forming GE Vernova and GE Aerospace as well-capitalized, investment-grade companies, and we’re excited to launch them to the world in early April.

GE Vernova CEO Scott Strazik said, “GE Vernova is a purpose-built company serving the electric power industry with a unique scope and scale of solutions to create a more sustainable world. Today's milestone demonstrates the significant progress our teams have made in preparing GE Vernova to launch as a standalone company and how we are poised to benefit from growing demand for energy transition products and services. Our momentum continues to build with this latest milestone as we approach our spin-off.”

Highlights from Form 10

The Form 10 highlights how GE Vernova is:

• 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 services that 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,
• 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 Advanced Research, Consulting Services, and Financial Services.

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