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Innventure (NASDAQ: INV) specializes in founding, funding, and operating companies that focus on transformative and sustainable technology solutions. The company collaborates with multinational corporations to acquire or license disruptive technologies, which are then commercialized through newly created entities. Innventure's operations span across technology commercialization and management services, targeting innovations with significant market impact.
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Corporate Segment - Partners with multinational companies to acquire intellectual property and patents, generating revenue through management fees and consulting services, including investigative analysis, due diligence, and opportunity assessments.
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Technology Segment - Focuses on commercializing and selling innovative cooling technology for critical electronic equipment, contributing to the advancement of sustainable and transformative solutions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Bill Haskell ExecutiveBoard | Chief Executive Officer | Chairman of Accelsius; Director of AeroFlexx | Bill Haskell is the Chief Executive Officer of Innventure since 2021 and serves as a Class I director. He leads the company with significant operational oversight and holds additional external roles. | View Report → |
David Yablunosky ExecutiveBoard | Chief Financial Officer (CFO) | David Yablunosky has been serving as INV's CFO since 2023 and is a Class II director, bringing over 30 years of financial leadership experience with previous key roles at Embraer and other multinational corporations. | ||
Dr. John Scott ExecutiveBoard | Innventure's Chief Strategy Officer | Dr. John Scott has served as Innventure's Chief Strategy Officer since 2015. He is also a co-founder and a member of the Investment Committee , and previously was the Founder and CEO of XL TechGroup. | ||
Mike Otworth ExecutiveBoard | Executive Chairman | Mike Otworth has served as the Executive Chairman of Innventure LLC since 2015. Previously, he was the Founding CEO and Chairman of the Board at PureCycle from 2015 to 2022. | ||
Roland Austrup ExecutiveBoard | Chief Growth Officer | Chairman & Managing Principal of WaveFront Global Asset Management Corp. ; Co-founder and Director of Envest Corp. ; Advisory Board member for the Master of Quantitative Finance program ; Advisory Board member for First Tracks Capital | Innventure's Chief Growth Officer since June 2024, previously served as Head of Capital Markets from 2023 to June 2024 and as Chief Financial Officer from 2021 to 2023. | |
Suzanne Niemeyer ExecutiveBoard | General Counsel | Director for Refinity Holdings, LLC | Suzanne Niemeyer serves as General Counsel at INV and holds a Class III Director position, bringing over 25 years of legal expertise to corporate governance and complex transactions. She has also held key roles in other organizations, bolstering her reputation in legal counsel and strategic oversight. | |
Bruce Brown Board | Class II Director | Board member at Magnera Corporation; Board member at Glatfelter Corporation | Bruce Brown is a Class II Director at INV with extensive leadership and innovation experience, including 34 years at P&G as CTO and serving on boards at global companies such as Magnera and Glatfelter. | |
Daniel J. Hennessy Board | Class I Director | Chairman & CEO of Hennessy Capital Investment Corp. VI; Chairman of the Board of Directors of Compass Digital Acquisition Corp.; Chairman & CEO of Hennessy Capital Investment Corp. VII | Daniel J. Hennessy is a Class I Director at INV since October 2024, serving also as Learn CW's director designee pursuant to the Business Combination Agreement. His extensive background in investment and corporate governance further underlines his commitment to strategic leadership. | |
Elizabeth Williams Board | Class III director | Managing Partner and Founder of &Minds Partners; Finance faculty member at University of Dayton's Business School | Elizabeth Williams is a Class III director at INV, serving since April 2025. She has extensive experience in corporate strategy and development, illustrated by her role as Managing Partner and Founder of &Minds Partners since 2019 and as a Finance faculty member at the University of Dayton's Business School. | |
James O. Donnally Board | Class II Director | Managing Member of Bellringer Consulting Group, LLC; General Partner of the Glockner Family Venture Fund, LP | James O. Donnally is the Class II Director of Innventure, serving since at least 2024. He also has been the Manager of Innventure LLC since 2015 and has extensive financial experience from previous executive roles at other companies. | |
Michael Amalfitano Board | Class I director | President and CEO of Embraer Executive Aircraft, Inc. since 2017; Director of Eve Holding, Inc. | Michael Amalfitano serves as a Class I director at INV, with his board role implied to have started with the company’s public listing in October 2024. He is also a seasoned executive, serving as President and CEO of Embraer Executive Aircraft, Inc. since 2017 and as a director of Eve Holding, Inc.. |
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Zutacore | This company is one of the two entities currently selling two-phase refrigerant-based solutions in the liquid cooling market, which is increasingly necessary to cool high-powered chips. The complexity of designing and optimizing two-phase solutions may delay other competitors from entering this market. |
LiquidStack | This competitor offers single-phase immersion cooling solutions, which are expensive and have limited thermal headroom. Their technology requires modifications to server internals and involves time-consuming servicing processes. |
Green Revolution Cooling | This competitor provides single-phase immersion cooling solutions that require significant infrastructure changes and inefficient use of real estate. |
TMGCore | This competitor is involved in both single-phase and two-phase immersion cooling technologies, which face challenges such as high costs and vapor trapping issues in servers. |
Submer | This competitor specializes in two-phase immersion cooling, which is expensive and has issues like vapor trapping in servers and concerns over the use of certain coolants. |
CoolIT Systems | This competitor provides single-phase direct-to-chip cooling solutions using water, which poses risks such as leaks that can cause catastrophic server failures. |
STULZ | This competitor offers single-phase direct-to-chip cooling solutions that face challenges like bio-fouling and the need for large pumps to cool higher thermal densities. |
Alterra | This firm uses thermochemical conversion processes to recycle plastic waste into hydrocarbon liquids, competing in the advanced recycling market. |
Brightmark | This company employs pyrolysis recycling technologies to convert plastic waste into hydrocarbon liquids, competing with Refinity's fluidized bed processing technology. |
Plastic Energy | This competitor uses thermochemical conversion processes for recycling plastic waste into hydrocarbon liquids, which Refinity aims to outperform in yield and economic viability. |
Mura/Licella | This firm utilizes pyrolysis recycling technologies to convert plastic waste into hydrocarbon liquids, presenting competition to Refinity's advanced recycling process. |
This company is involved in thermochemical conversion processes for recycling plastic waste, competing in the same market as Refinity. | |
This competitor uses pyrolysis recycling technologies to convert plastic waste into hydrocarbon liquids, which Refinity believes it can outperform in yield and scalability. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Customer A | Related Party | All | 43.0% (Oct 2–Dec 31, 2024), 77.0% (Jan 1–Oct 1, 2024), 70.7% (FY 2023) of total revenue |
Customer B | Related Party | All | 5.9% (Oct 2–Dec 31, 2024), 10.6% (Jan 1–Oct 1, 2024), 9.2% (FY 2023) of total revenue |
Customer C | Third-Party | All | 20.1% (FY 2023) of total revenue; 0% in 2024 |
Customer D | Third-Party | All | 12.4% (Jan 1–Oct 1, 2024) of total revenue; 0% in other periods |
Customer E | Third-Party | All | 48.9% (Oct 2–Dec 31, 2024) of total revenue; 0% in earlier periods |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Innventure LLC | 2024 | The acquisition involved a business combination agreement completed on October 2, 2024, structured through two mergers that positioned both Learn CW and Innventure LLC as subsidiaries of what became Innventure, Inc. The deal's consideration was calculated using a formula based on $435 million adjusted for indebtedness and liquidity, with the transaction preliminarily accounted for as a reverse recapitalization where Innventure LLC was treated as the accounting acquirer. |
Recent press releases and 8-K filings for INV.
- Q1 2025 Financial Results Announced: Innventure, Inc. reported its quarterly results amid continued operational momentum from its companies, including Accelsius and AeroFlexx, with progress in the direct-to-chip liquid cooling market .
- Revenue Growth Outlook: Management reiterated confidence in a revenue growth inflection during the second half of 2025 .
- Financial Performance: Revenue was $0.2 million with an Adjusted EBITDA loss of $21.8 million in Q1 2025, with revenue growth expected later in the year .
- Debt Restructuring & Financing: The company executed a significant debt restructuring by terminating approximately $18 million of related party debt in exchange for 2.3 million Series C preferred shares, resulting in annual interest savings of approximately $3 million, and raised $27 million from convertible debenture issuance .
- Form 8-K dated April 14, 2025 reports the issuance of a $20 million convertible debenture to Yorkville, with terms including a conversion price reset and monthly cash principal repayments, as detailed in the filing.
- The company also issued two warrants—to WTI Fund X, LLC and WTI Fund XI, LLC—entitling holders to acquire common or subsequent round stock at $0.01 per share with pricing based on a volume-weighted average price.
- Additional agreements, including a Registration Rights Agreement and a Global Guaranty Agreement, are outlined, and the report includes forward-looking statements regarding future corporate developments.
- Q4 Financial Performance: Reported $1.2 million in revenue and an Adjusted EBITDA loss of $27.9 million, with initial commercial sales at Accelsius .
- Business Combination and Market Entry: Closed its combination with Learn CW on October 2, 2024, and commenced trading on NASDAQ, marking a key public listing milestone .
- Full Year Results & Growth Outlook: Highlighted revenue generation from operating companies Accelsius and AeroFlexx with expectations for further growth in 2025 .
- New Operating Company Launch: Introduced Refinity to commercialize cost-effective conversion of mixed plastic wastes to petrochemical feedstocks in collaboration with The Dow Chemical Company .
- Strategic Capital Initiatives: Announced debt termination, preferred stock purchase agreements, and new product partnerships aimed at accelerating revenue growth .
- Convertible Debenture Transaction: On March 25, 2025, Innventure, Inc. entered into a securities purchase agreement to sell convertible debentures up to $30 million (first closing of $20 million; second closing of $10 million pending SEC registration and stockholder approval) .
- Debenture Structure: The debentures convert into common stock at an initial conversion price of $10.00, with optional redemption rights, reset date adjustments, and a maturity date 15 months after the first closing .
- WTI Warrants & Registration Rights: The transaction includes issuance of WTI Warrants for up to 300,000 shares and a registration rights agreement with Yorkville ensuring investor registration rights .
- Standby Equity Purchase Agreement: A contract dated October 24, 2023, enables the company to issue up to $75 million in Common Shares upon closing its Business Combination .
- Series C Preferred Stock Issuance: A Certificate of Designation approved on March 24, 2025, authorizes the issuance of 5,000,000 Series C Preferred Stock shares, with related unregistered sales to parties such as Yorkville, Ducera, Roth, and Grail Partners .
- SEC Compliance & Conversion Rights: Filings detail the processes for registering and converting Series C Preferred Stock into Common Shares, ensuring listing and compliance with SEC requirements .
- Accelsius signs a 3-year master purchasing agreement to white label its advanced two-phase liquid cooling solution for a global thermal management leader.
- New product developments: Launch of a 250kW multi-rack cooling system and test results showing capability to cool 4500Ws per socket, doubling previous performance.
- Strategic momentum: Accelerated market adoption backed by a robust pipeline and a doubling of Accelsius’ workforce, including the addition of five PhD specialists.