Joulent will provide power at scale for America’s essential digital infrastructure without driving up cost of electricity to consumers

Joulent is a privately held company, backed by Engine No. 1

Joulent, LLC (“the Company” or “Joulent”) today announced its launch as a technology-driven energy company purpose-built to deliver reliable, multi-gigawatt power at the speed and scale demanded by the current pace of innovation. Founded and developed over three years by Engine No. 1 in strategic collaboration with GE Vernova, Joulent will provide reliable, continuous power engineered to meet the needs of American innovation.

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"Leadership in the AI era will be determined by who can deliver energy and compute the fastest, most reliably, and at the lowest cost,” said Chris James, Founder and CEO of Engine No. 1 and Joulent. "By building new power generating facilities, Joulent enables customers across industries to power the next chapter of American innovation – while reducing pressure on existing grids and maintaining affordability for ratepayers.”

As Joulent's first power project, Engine No. 1 and Chevron have been collaborating on a natural-gas power facility project in West Texas known as Project Kilby ("Kilby"). Kilby will be co-located with a Microsoft-operated data center and is expected to deliver approximately 2.67 gigawatts of capacity under a 20-year power purchase agreement between Energy Forge One LLC, a wholly owned Chevron subsidiary, and Microsoft Corporation. Kilby is designed to deliver reliable electricity for hyperscale AI workloads while aiming to mitigate impacts on the regional grid relied on by consumers.

“Microsoft has taken a huge step to address current demand for more compute without impacting power prices in the community in which they will be operating,” said James.

“AI and cloud are advancing at a pace that requires a new level of coordination between energy and infrastructure,” said Noelle Walsh, Microsoft President of Cloud Operations + Innovation. “Working with Joulent allows us to align long-term power with our growing capacity needs, helping ensure we can continue delivering reliable, high-performance compute at scale. We’re also pleased to deepen our presence in the region and support the local community as part of that growth.”

Joulent’s “Across-the-Meter™” solution builds large-scale new power that is co-located with customer demand while eventually connecting to the grid. This approach gives the ability to scale quickly to multi-gigawatt campuses and over time, exportable capacity from Joulent projects is expected to enable capacity expansion for local power markets. The model also provides a foundation for future expansions through renewable energy sources, beginning with solar, creating additional pathways to add clean generation capacity over time.

Joulent was founded by Engine No. 1, and collaborates closely with GE Vernova to leverage their full expertise, equipment, and operational infrastructure.

About Joulent

Joulent is a technology-driven energy company purpose-built to deliver reliable, multi-gigawatt energy at the speed and scale required to build the compute for artificial intelligence and other compute-intensive industries. Joulent develops and delivers firm, baseload power solutions engineered to meet the unique demands of advanced computing while minimizing impacts on existing power grids. Its modular, Across-the-Meter™ approach integrates generation, storage, and advanced controls to deliver scalable power directly to new industrial loads, while reducing strain on existing grids and providing exportable power over time.

With an initial multi-gigawatt development portfolio and strategic partnerships across the energy, infrastructure, and data center ecosystem, Joulent is helping remove power constraints to enable the next chapter of American innovation and U.S. reindustrialization in the AI era.

For more information about Joulent, visit www.joulent.com or www.linkedin.com/company/joulentofficial.

About Engine No. 1

Engine No. 1 is holding company that builds and invests in companies powering innovation and advancing the reindustrialization of the United States. Engine No. 1 seeks to identify and scale businesses that address structural needs in the economy, including expanding domestic energy capacity, supporting next-generation infrastructure and enabling the industrial systems required for long-term growth.

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