Joule Capital Partners

What Joule Capital Partners does

Joule Capital Partners, operating as Joule Power, is a privately held energy and digital infrastructure company founded in 2025 and headquartered in Lehi, Utah. The company is developing a 4,000-acre AI data center campus in Millard County, Utah, anchored by its BetterGrid™ platform — an integrated, behind-the-meter power and infrastructure system combining 1+ GW of natural gas reciprocating engines (1.7 GW on firm order from Caterpillar), grid-forming battery energy storage with black-start capability, and N+2 redundancy architecture delivering 480V power directly to data center racks. The campus supports up to 800kW per rack density, with air, liquid, and immersion cooling options, closed-loop water use backed by 10,000 acre-feet of senior water rights, and six physically diverse fiber routes from Lumen, Zayo, AT&T, Verizon, and Google. Phase 1 comprises six facilities targeting first 25MW delivery in Q4 2026 and a 234MW Building A delivery in 2027, with a 4 GW total planned capacity across the site.

The business model is managed-services leasing of pre-engineered, entitled data center space and integrated power/cooling/connectivity infrastructure to hyperscale AI operators, who can adopt Joule's turnkey designs, modify them, or bring custom builds while leveraging the shared campus backbone. GTM is direct enterprise sales targeting hyperscalers and AI/Tech companies that face multi-year grid interconnection delays; the value proposition is grid-independent energy certainty and accelerated speed-to-market versus utility-tied builds. The company has raised $63 million to date ($3 million Series A in 2025; $60 million Series B in January 2026 led by Clear Lake Investments and Foulger Pratt) and is pre-revenue, with no named tenant customers disclosed in available sources. Leadership combines commercial real estate finance depth (Brock Andrus, Brad Andrus, Conor Andrus from Bridge Investment Group pedigree), HPC and telecom infrastructure experience (CTO Dave J. Gray, ex-BAE Systems), and industrial operating experience (Campbell Companies ties, Wheeler Machinery representation).

Name

Joule Capital Partners

Legal name

Joule

Website

https://joulecapitalpartners.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Joule Capital Partners (Joule Power) builds the BetterGrid™ platform — a grid-independent, 4,000-acre AI data center campus in Millard County, Utah, with behind-the-meter natural gas power, high-density cooling, and multi-carrier fiber, leased to hyperscale AI operators.

Ownership category

akta.pro rank

Product category

AI Data Center Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Wholesale Colocation (Powered Shells / Suites) (HDABACAB)

akta.pro secondary industries

Data Center Real Estate (REITs) & Leasing (HDABACAL), Prefabricated/Modular Data Center Infrastructure (Skids, PODs) (HDABAKAK)

Keywords

• AI data centers
• Data center leasing
• Behind-the-meter generation
• Hyperscale infrastructure
• Grid-independent power

Headquarters

HQ city

Utah

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Data Center Space Leasing: Joule leases data center space to hyperscale tenants on its fully entitled campus, providing turnkey infrastructure including power, cooling, and connectivity. Tenants can use Joule's blueprints, modify them, or build entirely custom while leveraging the pre-engineered infrastructure.
2. Power Infrastructure Services: Provides complete operational power infrastructure including generation equipment, switchgear, and BESS systems as part of its integrated platform offering, eliminating the need for tenants to coordinate multiple vendors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Joule Capital Partners develops and operates a gigawatt-class, behind-the-meter AI data center campus in Millard County, Utah. The company leases shovel-ready, entitled data center space and integrated power, cooling, and fiber infrastructure to hyperscale tenants, delivering AI-ready compute capacity months faster than traditional grid-dependent operators by bypassing public grid interconnection delays. Its BetterGrid platform combines owned 1+ GW natural gas reciprocating generation, grid-forming battery storage, multi-modal cooling, and six Tier-1 carrier fiber routes on 4,000 contiguous acres.

Product overview

Joule Capital Partners offers the BetterGrid™ Platform, a unified AI data center infrastructure solution that combines behind-the-meter power generation (1+ GW natural gas reciprocating engines from Caterpillar with grid-forming BESS), multi-modal cooling infrastructure (air, liquid, immersion-ready), and six high-density data center facilities on 4,000 acres in Millard County, Utah. The platform integrates six independent fiber routes from major carriers (Lumen, Zayo, AT&T, Verizon, Google) for carrier-neutral connectivity. Key differentiators include grid independence, N+2 redundancy architecture, 99.999% uptime capability, and speed-to-market advantages over traditional grid-dependent data center development.

Differentiator

Problem solved

Functional benefit

Brands

• BetterGrid: Next-generation data center platform specifically engineered for high-density AI workloads with behind-the-meter power generation.

Products and services

• BetterGrid™ Platform A next-generation AI data center infrastructure platform that provides behind-the-meter power generation and grid-independent operations on a 4,000-acre shovel-ready campus in Millard County, Utah. The platform delivers 1+ GW of power capacity via natural gas reciprocating engines and grid-forming battery energy storage systems (BESS), 480V direct-to-rack power with N+2 redundancy, high-density cooling (air, liquid, and immersion-ready), and six carrier-neutral fiber routes from Tier-1 providers, enabling rapid AI workload deployment without multi-year grid interconnection delays. Customers (hyperscale AI operators) contract for turnkey data center space and integrated power, cooling, and connectivity infrastructure, or bring custom designs built on the shared campus infrastructure.
• Phase I Data Center Campus (6 Facilities) Shovel-ready, entitled data center campus space in Millard County, Utah, with six state-of-the-art facilities supporting up to 800kW per rack power density and 480V direct-to-rack power delivery. Liquid cooling ready with N+2 redundancy architecture capable of 99.999% uptime SLA. First 25MW delivery expected Q4 2026; Building A 234MW delivery in 2027.

Quantifiable outcome

• First 25MW delivery expected Q4 2026; Building A 234MW delivery 2027
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and major.

• CaterpillarcoreTechnology or IntegrationCaterpillar is providing 1.7 GW of power generation equipment (natural gas reciprocating engines) for Joule's Utah campus. Equipment is on firm order and in production with first delivery scheduled for March 2026. Caterpillar's equipment powers the behind-the-meter generation essential to Joule's grid-independent model.
• Wheeler Machinery Co.coreTechnology or IntegrationWheeler Machinery Co., a Caterpillar dealer, provides on-site power systems support including rebuild and maintenance services. Stephen Green serves as Senior Vice President of Power & Energy at Wheeler Machinery Co. and is on Joule's board, representing this critical equipment partnership.
• Kern River Gas TransmissioncoreTechnology or IntegrationDedicated pipeline interconnect with Kern River Gas Transmission ensures firm natural gas fuel supply at scale for Joule's behind-the-meter power generation, providing reliable fuel supply independent of grid constraints.
• CentraCommajorTechnology or IntegrationCentraCom handles fiber construction and MMR (Meet-Me Room) design for Joule's campus, enabling the six diverse fiber routes and carrier-neutral connectivity infrastructure.
• Lumen, Zayo, AT&T, Verizon, GooglemajorTechnology or IntegrationFive Tier-1 carriers (Lumen, Zayo, AT&T, Verizon, Google) providing on-site connectivity with six physically diverse fiber routes, multi-terabit capacity per route, and direct connections to major IX points.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Stack Infrastructure: Develops and operates hyperscale data center campuses with deep power expertise, including campuses built around dedicated/utility-scale generation. Closely comparable on hyperscale build-and-lease model and power-led site selection.
• EdgeConneX: Operates a global portfolio of data centers including hyperscale and edge campuses, with expertise in rapid, customized build-outs for AI/cloud tenants. Comparable on build-to-suit hyperscale campuses and bespoke infrastructure solutions.
• Applied Digital: Develops large-scale data center campuses designed for AI and HPC workloads using behind-the-meter and dedicated power arrangements. Closest direct peer in business model, customer target (hyperscalers / AI compute tenants), and behind-the-meter power thesis.
• TeraWulf: Operates behind-the-meter, nuclear- and natural-gas-powered compute campuses, originally for Bitcoin mining and now pivoting into AI/HPC hosting. Highly comparable on power-first infrastructure design and infrastructure-led commercial thesis.
• Aligned Energy: Hyperscale data center operator focused on high-density, liquid-cooled, sustainable campuses for AI workloads. Comparable on targeting hyperscalers with high-density, AI-ready infrastructure and adaptive cooling.
• Compass Datacenters: Builds pre-engineered, modular data center campuses for hyperscale and enterprise tenants with a focus on speed-to-market and standardization. Comparable on pre-engineered campus design philosophy and ability to deliver at scale to hyperscale customers.
• Core Scientific: Operates large powered data center campuses originally for crypto mining and now repositioned for AI/HPC hosting with hyperscale-adjacent customers. Comparable on repurposing power-rich campuses for AI compute tenants.

Broad incumbents

• CyrusOne: Hyperscale and enterprise data center operator owned by KKR and Global Infrastructure Partners. Comparable as a hyperscale colocation incumbent targeting AI tenants, though much larger and more geographically diversified.
• Vantage Data Centers: Global hyperscale and enterprise colocation operator with multi-gigawatt campus developments across North America and EMEA. Comparable as a hyperscale colocation landlord, but with broader geographic footprint and an established operating base.
• Digital Realty Trust: Largest publicly traded data center REIT with global PlatformDIGITAL footprint serving hyperscalers and AI workloads. Comparable as a hyperscale colocation incumbent with deep tenant relationships, though operating under a REIT/grid-tied model rather than behind-the-meter.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xtwitter.com/joulepowerai
• LinkedInlinkedin.com/company/joule-capital-partners
• Facebookfacebook.com/Joule-Capital-Partners-61578968920296

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Joule Capital Partners