Hydrothermal Reactor Power Plant Developer KiNRG Sets IPO Price at $4-$5 Per Share, Targeting $17 Million Raise

Stock News15:28

KiNRG, a developer of hydrothermal reactor power plants with data center construction capabilities, has filed with the U.S. Securities and Exchange Commission (SEC) to raise up to $17 million through an initial public offering (IPO).

The company plans to offer 3.8 million shares at a price range of $4 to $5 per share, aiming to raise $17 million. At the midpoint of the proposed price range, KiNRG would have a fully diluted market capitalization of approximately $298.9 million.

KiNRG is an early-stage company focused on planning, designing, licensing, financing, and constructing its patented renewable hydrothermal reactor projects. These projects generate power by using ambient heat and evaporative cooling dynamics within a tower structure to create a downdraft that drives a turbine for electricity generation.

Following its acquisition of TRINITY on April 1, 2026, the company's operations also include commercial construction and infrastructure services, primarily targeting the data center industry. Founded in 2010, KiNRG generated $257 million in revenue for the 12 months ended December 31, 2025.

The company plans to list on the NYSE American exchange, though a ticker symbol has not yet been determined. KiNRG submitted its confidential IPO filing on June 12, 2026. R.F. Lafferty & Co. has been appointed as the sole underwriter for the transaction.

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