One Power develops, builds, owns, and operates on-site ("behind the meter") power infrastructure for large industrial customers — manufacturers, data centers, and digital currency miners — who want reliable power independent of the U.S. grid. Rather than connecting customers to utilities, One Power installs power systems at or adjacent to customer facilities, delivering electricity directly without touching the grid. One Power sells power through long-term contracts across four product lines. Wind for Industry installs MW-scale wind turbines at industrial sites, contracted under 20-year take-or-pay agreements at fixed rates per MWh. Net Zero Projects combine wind and solar into integrated behind-the-meter systems targeting net-zero grid consumption, also under 20-year contracts. Megawatt Hubs are One Power-owned electrified industrial parks where tenants co-locate and access grid power through One Power's substation infrastructure, paying a fixed monthly rental fee plus a pass-through of actual electricity consumed. ManagedHV is an energy-as-a-service offering where One Power owns and operates on-site high-voltage electrical infrastructure at customer facilities. One Power finances renewable projects using federal Investment Tax Credits, with tax equity investors funding roughly 30% of project costs, allowing One Power to deploy capital with only ~10% of its own equity. The company is pre-profitability and capital-intensive, currently in a build-out phase, and conducted its IPO primarily to fund its construction pipeline.
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