WORLDTECHInnio posts first $1 billion quarter as data centers buy their own power
According to Crypto Briefing, Innio brought in $1.2 billion in revenue in the third quarter of 2026, reported on October 27, a 57% rise on the year before. The growth is being driven by data center operators that prefer to generate their own electricity instead of waiting for a utility to connect them.
Equipment sales carry the growth
Equipment revenue climbed 86% to roughly $778 million in the quarter, with data centers accounting for 60% of that amount. Their equipment revenue went from $38 million to $463 million over the same period a year earlier.
Crypto Briefing links the jump to the electricity demands of AI data centers, which consume large volumes of power and often cannot afford to wait for local grid connections. These operators are instead buying generation equipment and producing power on site, and Innio is one of the companies supplying that hardware.
Services income and multi-year agreements
Services revenue rose 20% to $390 million. Equipment income moves with project timing, while service income recurs because installed machines require upkeep for years.
The report says Innio holds long-term service agreements that cover at least 450 MW of Jenbacher capacity with Aggreko, running until 2031.
Record backlog stretches deliveries into 2028
Innio took $2.2 billion in equipment orders during the third quarter and $6.1 billion so far this year, a 91% increase on the previous year. Its equipment backlog reached a record $8 billion, up 142% year over year.
Two recent deals show the scale involved: a 620 MW follow-on order from a data center developer and a 450 MW project order from Liberty Energy. Those orders push deliveries out into 2028.
Innio now expects 2026 revenue of $3.9 to $4.0 billion and adjusted EBITDA of $780 to $800 million.
Open questions
- How much of the backlog will be converted into revenue before 2028?