Innventure Accelerates Financial Self-Sufficiency for Operating Companies

Innventure announced operating and financial milestones that demonstrate accelerating momentum across its operating companies and an improved capital outlook for the enterprise. Innventure's operating companies, Accelsius, AeroFlexx, and Refinity, have each reached key commercial or technical milestones, validating the scalability of Innventure's create-and-operate model. A core principle of the platform is the advancement of each operating company toward financial self-sufficiency, with the goal of reducing reliance on Innventure corporate capital and accelerating the path to enterprise-level profitability. This marks a clear shift from 2025, when Innventure continued to fund Accelsius alongside Accelsius' own direct capital raises, and funded all other operating companies through its corporate balance sheet. For Innventure's controlled operating companies, beginning with Accelsius and Refinity and continuing going forward, the model is to transition to direct capital formation as they mature, while Innventure maintains control and consolidates their financial results. This approach builds on Innventure's established history of raising more than $240M directly into its operating companies. Following Accelsius' fully funded Series B round with Johnson Controls and Legrand in 2025, AeroFlexx and Refinity are positioned to raise their next rounds directly on their own balance sheets. Accelsius continues to scale rapidly, supported by a sales pipeline exceeding $1B, planned deployments with global data center operators, and the commercial availability of the NeuCool MR250 system - including an agreement with DarkNX to deploy NeuCool across a new 300MW AI data center campus in Ontario, Canada, expected to be the largest two-phase, direct-to-chip deployment to date. Accelsius is projected to be cash flow positive by year end 2026. AeroFlexx recently secured a global commercial partnership with Aveda, which will become the first prestige beauty brand to adopt AeroFlexx's innovative refill packaging. With this validation and growing demand across personal care and adjacent categories, AeroFlexx will raise capital directly, including from strategic investors who can also serve as commercial partners as the company scales globally. Refinity has successfully validated its proprietary waste conversion technology at pilot scale and is raising capital directly to fund commercial demonstration and initial plant construction.