A German manufacturer of gas engines announced Wednesday it successfully completed a $2.43 billion initial public offering in the United States, benefiting from strong investor appetite for businesses that support artificial intelligence infrastructure development.
The Munich-based company’s main shareholder AI Alpine, which is jointly owned by funds operated by Advent International and the Abu Dhabi Investment Authority, placed 90 million shares at $27 per share during the offering. This pricing hit the maximum of the company’s projected range between $24 and $27.
The stock market debut occurs during a positive period for businesses connected to AI infrastructure development, as investors eagerly seek companies that facilitate the technology’s expansion, including electrification services and data center supply chains.
The gas engine manufacturer joins multiple companies from various industries including software and insurance that are scheduled to debut on New York exchanges Thursday, buoyed by improving market conditions and accumulated appetite for fresh public offerings.
Goldman Sachs, J.P. Morgan and Morgan Stanley served as the primary underwriters managing the stock offering.
Trading will commence Thursday on the Nasdaq exchange using the ticker symbol “INIO.”
The company was established after Advent International agreed to acquire General Electric’s distributed power division in a $3.25 billion transaction during 2018. The sovereign wealth fund ADIA acquired a minority ownership position in the business five years afterward.
During Advent’s control, the manufacturer has concentrated on high-growth market segments and expanded its presence across North America, increasing investments in domestic manufacturing and assembly operations.
The company produces gas engines through its Jenbacher and Waukesha product lines for essential infrastructure applications, including data centers, microgrids, electrical grid stabilization, industrial power generation and gas compression systems.
Market demand for the company’s gas engines has expanded as data center operators increasingly combine new facilities with on-location distributed power systems.
The manufacturer’s yearly data center equipment orders jumped to $2.28 billion in 2025, compared to $27 million during 2023. The company has secured significant contracts, including a deal for a multi-gigawatt power facility serving a major data center.
