How much money did Innio raise in its U.S. IPO, and who were the key shareholders selling shares?

Innio raised $2.43 billion in its U.S. IPO by selling 90 million shares at $27 each—the top of its indicated price range of $24 to $27. The shares were sold by AI Alpine, Innio’s principal shareholder, which is co-owned by funds managed by Advent International and the Abu Dhabi Investment Authority (ADIA).

What is Innio’s core business, and how is it linked to the AI infrastructure boom?

Innio is a gas engine manufacturer that produces engines under the Jenbacher and Waukesha brands for critical infrastructure applications including data centers, microgrids, grid stabilization, industrial energy, and gas compression. Its business is directly linked to the AI boom because data center operators are increasingly pairing new facilities with on-site distributed power generation—driving demand for Innio’s engines. This shift is reflected in its annual data center equipment order intake, which surged from $27 million in 2023 to $2.28 billion in 2025, and includes a marquee agreement for a multi-gigawatt power plant serving a major data center.

Advent, ADIA-backed gas engine maker Innio raises $2.43 billion in US IPO

Jun 3, 2026

Backed by Advent International and ADIA, gas engine maker Innio raised $2.43 billion in its U.S. IPO amid surging demand for AI data center power solutions. Order intake for data center equipment surged to $2.28 billion in 2025.

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