While the tech world was busy fawning over quantum computing, a German gas engine company walked into the Nasdaq and raised more money than anyone expected. Innio Group, which makes distributed power generators, completed its upsized IPO on June 4, pricing 90 million shares at $27 each and pulling in roughly $2.43B to $2.73B.
That’s not a typo. A company that builds gas engines for on-site power generation just out-raised Quantinuum, the Honeywell-backed quantum computing darling, by more than a billion dollars.
The numbers tell a very clear story
Innio’s stock surged 20-23% on its first day of trading, giving the company a market capitalization of approximately $20.25B. Compare that to Quantinuum, which raised $1.68B by pricing 28 million shares at $60. Quantinuum’s shares opened up about 12-13% but then faded, closing the day nearly flat.
Why gas engines are suddenly the hottest trade in tech
