Introducing Gray Oak Power: Customized Firm Power Solutions for US Data Center Developers and Operators

Providing on-site, firm power infrastructure enabling data center stabilization years ahead of utility interconnection

HOUSTON, Jan. 15, 2026 /PRNewswire/ -- Gray Oak Power officially launches today with a clear focus: enabling data center developers and owner-operators to accelerate US data center site  deployment by delivering customized and reliable, on-site power solutions. The company enters the market with an immediately actionable pipeline of on-site power projects.

Backed by Denham Capital (Denham), a global private infrastructure equity and credit investment platform, Gray Oak Power tackles the pressing challenges facing large-scale and AI-driven data centers to secure reliable power on timelines that align with land control, shell construction and tenant commitments.

Gray Oak Power integrates power plant design, permitting, contract negotiation, financing, construction oversight, fuel procurement, commercialization and long-term operations under one platform — ensuring speed and reliability throughout the project lifecycle. Gray Oak Power enables data center developer partners to overcome multi-year grid-connection timelines and delays by bringing baseload power on-site and accelerating project deployment by 5+ years. Once permanent grid service is established, Gray Oak Power's facilities transition from primary baseload to long-term resiliency and backup power, preserving asset value and operational reliability.

A Proven Track Record in Power Generation
Gray Oak Power is led by a seasoned, Houston-based team of industry veterans with more than 100 years of combined experience developing, owning and operating 9.8 GW of power generation and related energy infrastructure worldwide. The team's expertise spans all major power technologies — including gas-fired generation and renewables — enabling customized, site-specific solutions that balance speed, reliability, sustainability and long-term operating economics.

Gray Oak Power is once again partnering with Denham Capital following a successful history of jointly developing and operating multiple gigawatts of gas-fired power facilities across global markets.

With over 20 years of experience and $12+ billion in capital raised, Denham Capital has developed, built or operated more than 10 GW of power generation worldwide — split evenly between conventional and renewables. Its global infrastructure platform spans 15 portfolio companies and 100+ assets across more than 30 countries, with over 80% of its capacity coming from large-scale (>100 MW) assets. The firm is led by industry veterans and operating partners with an average of 30+ years of development, construction and operational expertise.

"This is a transformative moment for the data center industry," said Emilio Vicens, CEO of Gray Oak Power. "Developers are securing land faster than utilities can deliver power. Gray Oak Power enables projects to move forward by providing firm, on-site generation that matches the pace, scale and reliability demands of modern data centers, including high-density AI workloads."

Designed for a Constrained Power Landscape
Gray Oak Power enters the market at a critical time. According to S&P Global, US data center power demand is expected to nearly triple by 2030, rising from 61.8 GW in 2025 to 134.4 GW. By contrast, total US electricity demand has been relatively flat for the last two decades, making this surge one of the largest new sources of load growth utilities have faced in years. For developers, this imbalance has translated into unprecedented interconnection uncertainty, extended substation upgrade timelines and delayed project starts — even on fully entitled sites.

"The data center industry's power constraints align directly with the large-scale, power solutions expertise Gray Oak Power has developed over the past three decades," said Justin DeAngelis, Partner at Denham Capital and Global Head of Denham's infrastructure team. "By pairing Gray Oak Power's technical execution capabilities with Denham's development experience and capital, we can offer data center developers a practical path forward when grid power is not available on commercial timelines. We're thrilled to form and support Gray Oak Power's mission and the significant impact they're poised to make."

About Gray Oak Power
Gray Oak Power is led by a seasoned, Houston-based team of industry veterans with more than 100 years of combined experience developing, owning and operating 9.8 GW of power generation and related energy infrastructure worldwide. With expertise spanning all major power technologies – including gas-fired generation and renewables – Gray Oak Power accelerates US data center deployment by delivering customized, reliable power solutions to data center operators and hyperscalers. To learn more, visit grayoakpower.com and follow us on LinkedIn.

About Denham Capital
Founded in 2004, Denham Capital is a global Energy Transition investment firm, having raised more than $12 billion (which includes funds now managed by Trace Capital) of capital across multiple sectors. Specializing in private equity, infrastructure and credit, we invest in sectors that are central to the economic and resource transitions happening globally. We deliver the metals and minerals and sustainable infrastructure needed for today and tomorrow. For more information, visit www.denhamcapital.com.

SOURCE Gray Oak Power