Key Takeaways:
INNIO booked a 1.1 GW order for more than 200 Jenbacher J624 gas engines to power a mega-scale data center campus, one of the largest equipment orders in the company's history.
The 1.1 GW equipment order, booked in the second quarter, will supply behind-the-meter prime power to an unnamed developer's expanding portfolio of mega-scale data center campuses, INNIO said Monday.
"This contract highlights the strong and accelerating demand for independent, on-site power solutions in the data center sector," Dr. Olaf Berlien, president and chief executive officer of INNIO, said. "We are powering the AI revolution."
More than 200 Jenbacher J624 engines will be deployed across the United States, with phased deliveries providing multi-year revenue visibility. The J624 offers superior power density, containerization for fast deployment, and more stable load-following than alternative technologies — enabling reliable performance under demanding AI data center load profiles, according to INNIO.
The order reflects a structural shift in how hyperscalers and data center operators secure power. With grid interconnection timelines stretching five to seven years in many US markets, behind-the-meter gas generation has become the fastest path to energizing new capacity. INNIO's equipment order backlog hit a record $6.6 billion at the end of the second quarter, up 279% from a year earlier, driven largely by data center demand.
The 1.1 GW order contributed to a blockbuster quarter for INNIO. Equipment order intake surged 316% year-over-year to $2.3 billion in Q2 2026, while total revenue rose 42% to $937.7 million. Equipment revenue climbed 61% to $569.3 million, and services revenue — underpinned by long-term service agreements — grew 21% to $368.4 million.
Adjusted EBITDA reached $172.3 million, up 20% from a year earlier, though net income swung to a loss of $16.9 million due to $81.2 million in one-off costs tied to INNIO's initial public offering and public market readiness. The company initiated its full-year 2026 outlook, projecting revenue of $3.8 billion to $3.9 billion and adjusted EBITDA of $720 million to $740 million.
INNIO's Jenbacher J624 has set the industry standard for high-speed engines in its power class, the company said. The engines are hydrogen-ready, and INNIO earlier this year completed an industry-first demonstration of 100% hydrogen-fueled backup power for data centers at the 3 MW scale, with technical experts from Microsoft, Google, and Data4 witnessing live testing.
The order validates a thesis playing out across the data center supply chain: power availability, not chip supply, is becoming the binding constraint on AI infrastructure expansion. INNIO, which listed on Nasdaq earlier this year, trades as a pure-play beneficiary of this trend alongside engine peers such as Caterpillar and GE Vernova. The $6.6 billion backlog provides revenue visibility extending at least into 2030, according to the company.
This article is for informational purposes only and does not constitute investment advice.
