INNIO Group
INNIO Group is a global manufacturer of reciprocating gas engines (Jenbacher and Waukesha brands) for power generation and mechanical drive, serving data centers, utilities, oil and gas, and industrial customers across more than 100 countries with complementary AI-driven digital and aftermarket services.
- Company typePublic
- Founded2018
- HeadquartersTirol, Austria
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What INNIO Group does
INNIO Group is a global energy solutions company headquartered in Jenbach, Austria, that designs, manufactures, and services high-speed reciprocating gas engines for power generation and mechanical drive under two principal brands: Jenbacher (engines from 250 kW to 10.6 MW, marketed for cogeneration, trigeneration, and power generation) and Waukesha (engines for distributed gas compression and power generation, including the VHP, VGF, 275GL+, and mobileFLEX lines). The platform supports multiple fuel types—natural gas, biogas, biomethane, sewage gas, special gases, hydrogen blends, and 100% hydrogen—and is paired with the myplant AI-powered digital platform for predictive maintenance, energy optimization, and remote engine operation, plus SKIDIQ cloud-based monitoring from a partnership with Detechtion Technologies. As of late 2025, INNIO had a 44 GW installed base across more than 100 countries, comprising more than 57,000 engines, supported by 4,000+ lifecycle experts.
INNIO's revenue is generated across three streams: equipment sales under Jenbacher and Waukesha brands (where 2025 equipment order intake reached $3.884 billion, up at a 107% CAGR from 2023); recurring aftermarket services, parts, long-term service agreements, and remanufacturing (Waukesha reUp program), which the Enerflex APAC acquisition is set to deepen; and digital solutions via the myplant subscription platform. Pricing is B2B and quote-based; gas engines carry an average unit price near US$95,000, with engines representing roughly 45% of system-level production costs and approximately 22% product gross margin. Distribution combines direct enterprise sales with a global channel network, most notably Clarke Energy (30+ year partnership supporting 10+ GW) and Rehlko (1.25 GW three-year framework agreement), plus regional distributors such as Souer (Thailand) and the Gföllner IGPS joint venture in the US.
INNIO was formed in 2018 when Advent International acquired and carved out GE's distributed power business for $3.25 billion; the company completed its Nasdaq IPO on June 4, 2026, raising $2.43 billion via a fully secondary offering at $27 per share, opening at approximately $23 billion market capitalization, with Advent International (~54%) and Abu Dhabi Investment Authority (~45%) remaining controlling shareholders post-listing. Customer segments are organized horizontally across data centers (59% of 2025 equipment orders), utilities and grid operators, oil and gas, industrial/manufacturing, and municipal/commercial customers, anchored by named deployments at VoltaGrid (3.8 GW total), Rehlko data center projects, Green Mountain, NorthC Datacenters, Statera Energy, KMW, RAG Austria, and PT MPower Daya Energia.
INNIO Group firmographics
Firmographics- Name
- INNIO Group
- Legal name
- INNIO Jenbacher GmbH & Co OG
- Website
- https://innio.com
- Company type
- Public
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- INNIO Group is a global manufacturer of reciprocating gas engines (Jenbacher and Waukesha brands) for power generation and mechanical drive, serving data centers, utilities, oil and gas, and industrial customers across more than 100 countries with complementary AI-driven digital and aftermarket services.
- Ownership category
- akta.pro rank
INNIO Group industry classification
Industry- Product category
- Distributed Power Generation Equipment
- NAICS
- Engine, Turbine, and Power Transmission Equipment Manufacturing (3336), Turbine and Turbine Generator Set Units Manufacturing (333611), Other Engine Equipment Manufacturing (333618), Electric Power Generation (22111), Pump and Compressor Manufacturing (33391)
- SIC
- Engines & Turbines (3510), Cogeneration Services & Small Power Producers (4991), Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- Reciprocating Engine Generator Sets (Diesel/Gas/HFO) (IMAHAFAC)
- akta.pro secondary industries
- Reciprocating Gas Engine Power Plants (RICE) (EUACABAC), Dispatchable Distributed Generation (Gas Reciprocating Engines, Microturbines) (EUACALAI), On-Site Gas Generation Systems (IMAEACAJ), Gas-Fired Power Plant O&M and Life-Extension/Repowering Services (EUACABAJ), RNG Interconnection, Gas Quality & Upgrading Compliance (EUAJAJAC)
Keywords
Where INNIO Group is headquartered
LocationHeadquarters
- HQ city
- Tirol
- HQ country
- Austria
- HQ region
- Europe
Offices8 records
Markets served
INNIO Group business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Equipment Sales: Sale of gas engines and power generation systems under Jenbacher and Waukesha brands. Equipment order intake grew at 107% CAGR from 2023 to 2025, reaching $3.884 billion in 2025. Backlog of $3.6 billion entering 2026.
- Aftermarket Services and Parts: Long-term service agreements, spare parts, maintenance, and engine overhauls. The Enerflex APAC acquisition strengthens service capabilities with operations across 8 locations serving major oil and gas companies with long-term service agreements.
- Digital Solutions: myplant AI-powered platform providing energy management, performance optimization, and remote engine operation services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Gas engines average unit price approximately US$95,000 |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
INNIO Group product offering
Product offeringCore offering
INNIO Group designs, manufactures, and services reciprocating gas engines for distributed power generation, cogeneration, trigeneration, and mechanical drive under the Jenbacher (250 kW to 10.6 MW) and Waukesha brands. The engines operate on natural gas, hydrogen, biogas, and special gases and are deployed for data center backup power, grid stabilization, industrial combined heat and power, and oil and gas applications. The offering is complemented by the myplant AI-powered digital platform for monitoring, predictive maintenance, and energy optimization across the 44 GW installed base.
Product overview
INNIO Group is a distributed energy solutions provider offering a comprehensive portfolio of gas-fueled reciprocating engines and digital solutions. The company operates two primary product brands: Jenbacher (gas engines ranging from 250 kW to 10.6 MW for power generation, cogeneration, and trigeneration) and Waukesha (gas engines for distributed compression and power generation). The product portfolio is complemented by the myplant AI-powered digital platform providing real-time analytics, performance optimization, and remote engine operation capabilities. INNIO's engines support multiple fuel types including natural gas, hydrogen (including 100% hydrogen capability), biogas, biomethane, and special gases. The company also offers the reUp remanufacturing program for Waukesha engines, SKIDIQ cloud-based monitoring solutions, and containerized deployment options for rapid installation.
Differentiator
Problem solved
Functional benefit
Brands
- Jenbacher: Gas engines and energy solutions for power generation, cogeneration, and trigeneration, ranging from 250 kW to 10.6 MW, operating on natural gas, hydrogen, and renewable gases
- Waukesha
- myplant
Products and services
- Jenbacher Gas Engines
Quantifiable outcome
- 70% CO2 emissions reduction compared to coal-fired power plants
- +5 more outcomes
Companies that use INNIO Group
Customer profileNamed customers10 records
Segments5 records
Ideal customer profiles4 records
INNIO Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature5 records
INNIO Group partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered flagship, core, platform, major, regional and strategic.
- Net Zero Innovation Hub for Data CentersflagshipWorld-first demonstration of 100% hydrogen backup power for data centers at 3 MW scale. Technical experts from Microsoft, Google, and Data4 witnessed live testing at INNIO facility in Austria, validating hydrogen-fueled Jenbacher engine meets demanding response profiles for mission-critical data center operations. Collaboration continuing on scaling solution focusing on fuel availability, infrastructure, storage, and integration.
- RehlkocoreMulti-year framework agreement securing 1.25 GW of gas engine capacity over three years, expanding from previous 700 MW reservation. Significant portion allocated to hyperscale, colocation, and enterprise data center operators. Rehlko delivers projects through Clarke Energy subsidiary with 30+ years partnership supporting 10+ GW global installed base. Provides long-term supply certainty during unprecedented investment in digital infrastructure.
- Enerflex Ltd.platformDefinitive agreement for INNIO to acquire Enerflex's APAC aftermarket business operations in Australia, Thailand, and Indonesia. Acquired business operates across 8 locations with long-term service agreements with major oil and gas companies. Expected to close H2 2026 subject to regulatory approvals. Builds on INNIO's 2024 acquisition of Souer in Thailand.
- VoltaGridcoreStrategic collaboration for behind-the-meter power generation for AI data centers. INNIO supplies Jenbacher J624 and J620 gas engines integrated into VoltaGrid's QPac platform. Initial 2.3 GW order for world's largest data center, followed by additional 1.5 GW order. Engines engineered to handle GPU utilization demands and volatile load fluctuations typical of AI environments. Delivery scheduled for 2028.
- GEUS (Global Energy Utility Systems)majorCollaboration on 104 MW Texas power plant project targeting startup in 2027. Reinforcing grid stability in Texas market.
- Statera EnergyregionalClarke Energy collaboration with Statera Energy on landmark project supporting UK grid stability. Clarke Energy delivers INNIO-powered solutions for flexible generation.
- KMW (Kraftwerke Mainz-Wiesbaden AG)majorContract to build 54 MW peaking power plant in Mainz, Germany featuring twelve modular energy systems. Scheduled for commissioning end 2027. Will partially supply power to Green Rocks data center project developed by KMW and Norwegian operator Green Mountain. INNIO's systems offer up to 95% lower nitrogen oxide emissions than traditional diesel generators and are hydrogen-ready.
- NidecstrategicPartnership to offer improved engine and electric motor solutions for gas compression industry. Combines Waukesha engine technology with Nidec's electric motor capabilities.
- PT MPower Daya EnergiaregionalAgreement signed in Batam, Indonesia to deliver 80 MW for grid stabilization supporting growing energy demand from local data centers. Five-year collaboration includes planned multi-year maintenance program covering existing and new plants operated by Infra Daya Group. Milestone in long-standing partnership.
- GföllnerstrategicJoint venture in the US (IGPS - Integrated Gas Power Solutions) to tap flexible power solutions market. Combined expertise for US market expansion.
- Souer Co., Ltd.platformAcquisition of long-standing distributor based in Phitsanulok, Thailand. Founded 1987, Souer has 70 employees providing new unit sales, after-sales support, services and overhaul of engines and generator sets. 35 years as Waukesha distributor in Thailand, Laos, Myanmar, Cambodia; 10 years as Jenbacher distributor for Thailand. Features 2,400 m2 workshop and product training center.
- RAG Austria AGflagshipCollaboration on 1 MW hydrogen CHP plant that converts stored hydrogen from surplus summer renewable production back to electricity and heat for winter use. Part of Underground Sun Storage project using converted porous sandstone formation for seasonal hydrogen storage holding up to 4.2 GWh. Project demonstrates green hydrogen's role in energy transition and seasonal storage solutions.
Scale indicators17 records
Recent moves11 records
Expansion highlights6 records
INNIO Group competitors and assessment
Company assessmentBroad incumbents
- GE Vernova:
- Caterpillar: Caterpillar is a broad incumbent in distributed power generation and reciprocating engines through its Electric Power division, directly competing with INNIO in gas generator sets and standby power for industrial and data center applications. Cat's global service network and brand strength position it as a key alternative for INNIO's core customer base.
- Siemens Energy: Siemens Energy is a broad incumbent with its gas turbines (SGT series) and grid technology offerings, providing alternative flexible generation solutions for the same data center and utility customers INNIO serves. While Siemens focuses on larger utility-scale turbines, it overlaps in the distributed and industrial power generation market.
Direct peers
- MAN Energy Solutions: MAN Energy Solutions produces large reciprocating gas engines for power plants and mechanical drive applications, directly competing with INNIO in utility-scale and industrial gas engine markets. MAN's MGT and gas engine series serve similar customers to INNIO's Jenbacher Type 4 and Type 6 products.
- Wärtsilä: Wärtsilä is a direct peer in large reciprocating gas engines for power generation and marine applications, with comparable engine technology, energy storage integration, and lifecycle service offerings. Both companies target flexible gas-fired power for grid balancing and industrial applications.
- Rolls-Royce Power Systems (MTU): Rolls-Royce Power Systems, operating under the MTU brand, manufactures gas and diesel engines for power generation, data center backup, and mission-critical applications, competing directly with INNIO Jenbacher in the 250 kW to multi-MW range. MTU's solutions for data centers and grid stability overlap with INNIO's hyperscale and utility customer base.
- MWM (Caterpillar subsidiary): MWM, a Caterpillar subsidiary, manufactures gas engines and generator sets for distributed power, CHP, and biogas applications in the 0.4-4.5 MW range, directly competing with INNIO Jenbacher in European and emerging market cogeneration segments. The companies compete particularly intensely in biogas and special gas applications.
- Cummins: Cummins is a direct peer through its Power Generation business producing reciprocating gas and diesel engines for commercial, industrial, and data center backup power applications. Cummins competes head-to-head with INNIO's Jenbacher brand in CHP, prime power, and emergency standby markets globally.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
INNIO Group social profiles
Digital presenceINNIO Group compliance and trust
Trust signalCompliance6 records
INNIO Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
INNIO Group leadership team
Management profileNumber of profiles
Profiles7 records
INNIO Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
INNIO Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
INNIO Group M&A and investment
M&A and investmentM&A5 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about INNIO Group
What does INNIO Group do?
INNIO Group designs, manufactures, and services reciprocating gas engines for distributed power generation, cogeneration, trigeneration, and mechanical drive under the Jenbacher (250 kW to 10.6 MW) and Waukesha brands. The engines operate on natural gas, hydrogen, biogas, and special gases and are deployed for data center backup power, grid stabilization, industrial combined heat and power, and oil and gas applications. The offering is complemented by the myplant AI-powered digital platform for monitoring, predictive maintenance, and energy optimization across the 44 GW installed base.
Is INNIO Group a public or private company?
INNIO Group is a public company. It is classified as public and is currently operating.
When was INNIO Group founded?
INNIO Group was founded in 2018. It employs 1,001 to 5,000 people.
Where is INNIO Group based?
INNIO Group is headquartered in Tirol, Austria, in the Europe region.
How does INNIO Group make money?
Three revenue lines are on record. Equipment Sales are the primary driver. The others are aftermarket Services and Parts and digital Solutions.
Who are INNIO Group's main competitors?
Broad incumbents on record are GE Vernova, Caterpillar and Siemens Energy. Direct peers are MAN Energy Solutions, Wärtsilä, Rolls-Royce Power Systems (MTU), MWM (Caterpillar subsidiary) and Cummins.
Does INNIO Group have an API?
No public API is recorded for INNIO Group.
What industry is INNIO Group in?
INNIO Group's product category is Distributed Power Generation Equipment. Its primary akta.pro industry code is IMAHAFAC, Reciprocating Engine Generator Sets (Diesel/Gas/HFO), with a secondary code of EUACABAC, Reciprocating Gas Engine Power Plants (RICE). Its NAICS code is 3336 and its SIC code is 3510.