INNIO Completes Carve-out from General Electric and Emerges as Stand-alone Energy Company
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INNIO announces that Advent International has completed the
acquisition of GE’s Distributed Power business
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INNIO is the youngest energy company in the world with more than 80
years of reciprocating engine expertise in distributed power
generation and gas compression
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Two powerful product brands—Jenbacher and Waukesha gas engines—will
retain their brand identities under the INNIO umbrella
INNIO today announces that Advent International has completed the
acquisition of GE’s Distributed Power business and is now a stand-alone
energy company rebranded as INNIO. The transaction includes the
Jenbacher and Waukesha product lines, the digital platform and related
services offerings, with main operating sites in Austria, Canada and the
United States.
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Carlos Lange, president and CEO of INNIO (Photo: Business Wire)
“This is an exciting time to emerge as a stand-alone energy company.
With the continued growth of renewables across the globe and the
increased emphasis on energy efficiency, INNIO is well-positioned to be
a key enabler and integral part of the energy transformation,” said
Carlos Lange, president and CEO of INNIO.
Today, INNIO celebrates its new name and official launch, emerging as
the youngest energy company in the world as it carries over two powerful
brands — the Jenbacher and Waukesha gas engine product lines. INNIO has
a proven track record of more than 80 years of reciprocating engine
heritage in distributed power generation and gas compression.
INNIO is well-positioned in the $5 billion global gas engine sector,
with growth anticipated to be a mid to high single-digit rate per annum,
driven by the rising demand for affordable, reliable and sustainable
solutions for power generation and gas compression near or at the point
of use.
As a leading solutions provider, INNIO is strategically positioned to
play a defining role across the energy industry as the global energy
transition unfolds. The master brand INNIO will operate as a platform
connecting two powerful product brands linked by a digital solution.
“It is a great pleasure to accompany INNIO as it emerges as a
stand-alone energy company,” said Ranjan Sen, managing partner at Advent
International. “The Jenbacher and Waukesha product brands and
technologies are recognized worldwide for their performance, reliability
and technological excellence. We anticipate continued sustained growth
in power generation and gas production technologies on a global scale.”
About INNIO
INNIO is a leading solutions provider of gas engines, power equipment, a
digital platform and related services for power generation and gas
compression at or near the point of use. With our Jenbacher and Waukesha
product brands, INNIO pushes beyond the possible and looks boldly toward
tomorrow. Our diverse portfolio of reliable, economical and sustainable
industrial gas engines generates 200 kW to 10 MW of power for numerous
industries globally. We can provide life cycle support to the more than
48,000 delivered gas engines worldwide. And, backed by our service
network in more than 100 countries, INNIO connects with you locally for
rapid response to your service needs. Headquartered in Jenbach, Austria,
the business also has primary operations in Welland, Ontario, Canada,
and Waukesha, Wisconsin, US. For more information, visit the company's
website at www.innio.com.
Follow INNIO on Twitter and
LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181106005236/en/
Copyright Business Wire 2018
Source: Business Wire
(November 6, 2018 - 11:00 AM EST)
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