With U.S. data center demand expected to exceed 100 GW by 2028, the need for immediate, reliable power has never been greater. This energy bottleneck is further intensified by new policy frameworks, such as the “Ratepayer Protection Pledge,” which emphasize that technology leaders should take responsibility for “building, bringing or buying” their own energy resources to protect residential utility customers from infrastructure costs.
To help solve this bottleneck, Denham Capital’s infrastructure business announced a strategic partnership agreement with First American Nuclear (FANCO), a nuclear power company and developer of fast-spectrum small modular reactors (SMRs) designed to deliver the most cost-effective utility-scale power in the world, to deliver an integrated power solution for AI and hyperscale data centers. Through this collaboration, Denham Capital and its portfolio companies will deploy on-site power and flexible energy solutions ahead of FANCO’s nuclear power projects reaching operations. This combined approach allows hyperscalers to secure a long-term nuclear energy roadmap while benefiting from the rapid power deployment necessary to meet today’s critical infrastructure demands and mitigate potential development delays.
Denham Capital’s infrastructure portfolio includes Gray Oak Power, a Houston-based platform launched in January 2026 to develop, build, own and operate on-site, firm power and flexible energy solutions for the data center market. Gray Oak Power enables hyperscalers and data centers to bypass utility interconnection delays and energize years ahead of traditional timelines.
“The urgency to close the widening power gap has never been higher, as technology leaders are increasingly expected to manage their own energy requirements,” said Emilio Vicens, Chief Executive Officer at Gray Oak Power. “Together with Denham Capital and FANCO, Gray Oak Power offers the most practical, immediate solution: on-site, gas-power generation that can be energized five or more years ahead of traditional utility interconnection.”
