Engine No. 1
- Company typePrivate
- Founded2020
- HeadquartersSan Francisco, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
Engine No. 1 firmographics
Firmographics- Name
- Engine No. 1
- Legal name
- Engine No. 1 LP
- Website
- https://engine1.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Engine No. 1 industry classification
Industry- Product category
- Private Equity / Investment Management
- NAICS
- Electric Power Generation (22111), Turbine and Turbine Generator Set Units Manufacturing (333611), Engine, Turbine, and Power Transmission Equipment Manufacturing (3336)
- SIC
- Engines & Turbines (3510), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Gas Turbines (Industrial & Utility-Scale) (IMAHAFAA)
Keywords
Where Engine No. 1 is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Engine No. 1 business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Investment Returns: Engine No. 1 generates returns through equity investments in portfolio companies. Their ExxonMobil campaign generated a 350% return on initial 2020 investment over four years.
- Portfolio Company Development: Building and investing in companies that power innovation and drive US reindustrialization, with focus on energy infrastructure and AI data center power solutions.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Engine No. 1 product offering
Product offeringCore offering
Engine No. 1 is a privately held holding and investment company that builds and invests in businesses focused on the reindustrialization of the United States, with particular emphasis on energy infrastructure and AI data center power. Through its core subsidiary Joulent, the firm develops and delivers multi-gigawatt, firm-baseload power generation facilities engineered to meet the speed and scale requirements of advanced computing and AI industries, using proprietary co-location approaches and strategic partnerships with major energy technology suppliers.
Product overview
Engine No. 1 is a holding company that builds and invests in companies powering innovation and driving U.S. reindustrialization. The company's core product portfolio centers on Joulent, a technology-driven energy company that delivers multi-gigawatt power solutions for AI infrastructure. Joulent operates alongside strategic partnerships including the Chevron-Engine No. 1-GE Vernova power partnership (delivering Project Kilby at 2.67 GW) and the Engine No. 1 and Crusoe joint venture for AI data centers. Together, these offerings provide integrated power generation and data center infrastructure solutions for the AI era.
Differentiator
Problem solved
Functional benefit
Products and services
- Joulent
- Project Kilby
Quantifiable outcome
- 350% return on ExxonMobil investment over 4 years
- +1 more outcomes
Companies that use Engine No. 1
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Engine No. 1 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Engine No. 1 partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and major.
- JoulentcoreJoulent is a technology-driven energy company founded and developed over three years by Engine No. 1 in strategic collaboration with GE Vernova. Joulent delivers reliable, multi-gigawatt power at the speed and scale demanded by AI innovation, with Project Kilby as its first power project.
- MicrosoftcoreMicrosoft is the anchor customer for Project Kilby, signing a 20-year power purchase agreement for approximately 2.67 GW of dedicated electricity from the natural gas power facility co-located with their AI data center campus in West Texas.
- CrusoemajorEngine No. 1 and Crusoe formed a joint venture to develop powered AI data centers. The venture's power-first approach accelerates innovation by delivering scaled data center real estate solutions to the AI community.
- Chevron CorporationcoreEngine No. 1 partnered with Chevron to build a company providing scalable and reliable power generation solutions for AI data centers. The joint development aims to build 4GW+ of power initially behind the meter, co-located with AI data centers, using GE Vernova's 7HA turbine technology. This partnership includes Project Kilby in West Texas.
- GE VernovacoreGE Vernova provides the 7HA natural gas turbines for the power generation projects developed with Chevron and Engine No. 1. The partnership leverages GE Vernova's equipment and operational infrastructure to deliver multi-gigawatt power solutions for AI data centers.
Scale indicators4 records
Recent moves7 records
Expansion highlights5 records
Engine No. 1 competitors and assessment
Company assessmentDirect peers
- Stonepeak Infrastructure Partners: Infrastructure private equity firm with concentrated focus on energy infrastructure (including gas-fired generation) and data-related logistics; comparable LP base and strategy of building platforms around contracted power and digital infrastructure demand.
- Crusoe Energy Systems: AI-data-center infrastructure operator and Engine No. 1's joint venture partner for powered AI data centers; both companies target the same 'power-first' model pairing modular behind-the-meter generation with hyperscaler compute. Directly overlapping in product category and target customer.
- Talen Energy: Independent power producer that signed an AWS campus power arrangement at the Susquehanna nuclear plant, often cited alongside Constellation as the most direct hyperscaler-power comparables; comparable in size and in the model of monetizing existing firm capacity for AI demand.
- Constellation Energy: Largest U.S. nuclear fleet operator with a multi-decade Microsoft power offtake (Three Mile Island restart) for AI data centers. Closest large-cap analog as a power-generation counterparty to hyperscalers bidding up firm, around-the-clock capacity.
Broad incumbents
- Blackstone Infrastructure Partners: Blackstone's infrastructure platform investing in power generation, digital infrastructure, and large-scale energy transition assets; relevant comparable for Engine No. 1's institutional infrastructure-investor positioning, even though Engine No. 1 is far smaller and more thematic.
- Vistra Corp: Large U.S. independent power producer with a diversified generation mix (gas, nuclear, coal, solar, battery) actively pursuing hyperscaler AI data center contracts including with Microsoft; broader portfolio but directly competing for the same hyperscaler offtake economics.
- NextEra Energy Resources: World's largest renewable and storage developer (subsidiary of NextEra Energy) actively courting hyperscalers as AI data center power counterparties; same target customers and same 'speed-to-power' competitive dynamics as Joulent, though with a renewables-led rather than gas-led fuel mix.
- Brookfield Asset Management: Global alternative asset manager with one of the largest infrastructure platforms (including renewable and gas-fired generation) and significant AI data center capital formation; analogous institutional infrastructure-investor role, though at vastly greater scale and AUM.
- KKR Global Infrastructure: Large-scale infrastructure private equity platform with U.S. generation and digital infrastructure investments; representative of the broader institutional capital pool chasing contracted power for AI data centers, comparable in role as an alternative-asset counterparty.
Emerging players
- Oklo Inc. Advanced nuclear (Aurora powerhouse) developer targeting behind-the-meter and data center power customers; representative of the 'next fuel' alternatives to Joulent's gas-fired approach and an indirect competitor for hyperscaler behind-the-meter mandates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Engine No. 1 social profiles
Digital presenceEngine No. 1 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Engine No. 1 leadership team
Management profileNumber of profiles
Profiles11 records
Engine No. 1 subsidiaries and ownership
Company hierarchySubsidiaries2 records
Engine No. 1 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Engine No. 1 M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Engine No. 1
What does Engine No. 1 do?
Engine No. 1 is a privately held holding and investment company that builds and invests in businesses focused on the reindustrialization of the United States, with particular emphasis on energy infrastructure and AI data center power. Through its core subsidiary Joulent, the firm develops and delivers multi-gigawatt, firm-baseload power generation facilities engineered to meet the speed and scale requirements of advanced computing and AI industries, using proprietary co-location approaches and strategic partnerships with major energy technology suppliers.
Is Engine No. 1 a public or private company?
Engine No. 1 is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Engine No. 1 founded?
Engine No. 1 was founded in 2020. It employs 11 to 50 people.
Where is Engine No. 1 based?
Engine No. 1 is headquartered in San Francisco, United States, in the North America region.
How does Engine No. 1 make money?
Two revenue lines are on record. Investment Returns are the primary driver. The others are portfolio Company Development.
Who are Engine No. 1's main competitors?
Direct peers on record are Stonepeak Infrastructure Partners, Crusoe Energy Systems, Talen Energy and Constellation Energy. Broad incumbents are Blackstone Infrastructure Partners, Vistra Corp, NextEra Energy Resources, Brookfield Asset Management and KKR Global Infrastructure. Oklo Inc. is listed as an emerging player.
Does Engine No. 1 have an API?
No public API is recorded for Engine No. 1.
What industry is Engine No. 1 in?
Engine No. 1's product category is Private Equity / Investment Management. Its primary akta.pro industry code is IMAHAFAA, Gas Turbines (Industrial & Utility-Scale). Its NAICS code is 22111 and its SIC code is 3510.