Energy tech firm Lummus confidentially files for U.S. IPO amid Trump's domestic push
Energy solutions company Lummus Technology said on Monday it has confidentially filed for an initial public offering in the United States amid President Donald Trump's broader strategy to enhance domestic energy production.
Founded in Houston, Texas, in 1907, Lummus Technology offers process technologies, lifecycle services and digitalization tools to petrochemicals, refining, gas processing and sustainable energy industries.
U.S. IPO market activity, which began the year sluggishly, is showing signs of a steady rebound after recent new listings attracted strong investor demand.
During his presidential campaign, Trump promised to increase U.S. energy production, and his recent signing of the "Big Beautiful Bill" further reinforced the ongoing dominance of oil and gas in the country's energy mix.
In 2020, The Chatterjee Group's unit and Rhone Capital acquired Lummus Technology from McDermott International at a $2.73-B valuation. Black Rock Coffee Bar and crypto custody startup BitGo, among others, confidentially filed for a U.S. IPO in July, joining a growing number of companies aiming to tap into strong market momentum.
Confidential filings allow companies to keep financial and strategic information private while engaging with regulators and assessing investor appetite ahead of a formal launch.
The terms of the offering were not disclosed.
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