INNIO Group has filed a Form S-1 to list on the Nasdaq Global Select Market under the ticker INIO. The Munich‑based company, spun out of GE’s power unit, is poised to tap growing electricity needs driven by AI, electrification and grid strain.

The filing follows Advent’s 2018 acquisition of INNIO for $3.25 bn and a recent valuation push toward $12 bn. Advent also weighs a sale, while Abu Dhabi Investment Authority holds a minority stake. Investors will focus on the company’s shift from a pure engine supplier to a diversified energy solutions provider.

Financials reveal a sharp turnaround: the first quarter of 2026 saw a $7.2 m net loss on $668.6 m in revenue, compared with a $35 m profit on $494 m a year earlier. Margin normalization and recurring service income will dominate roadshow scrutiny.

The IPO, led by Goldman Sachs, J.P. Morgan and Morgan Stanley, could become one of the largest sponsor‑driven industrial listings this year and deliver a substantial exit for Advent, whose stake has roughly tripled since the carve‑out.