Independence Power Holdings, Inc. Completes Business Combination/Reverse Merger with TriUnity Business Services; Addresses Permian Basin Power Shortfall with Software-Driven Microgrids

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MENTONE, Texas--(BUSINESS WIRE)--Jan 12, 2026--

Independence Power Holdings, Inc. (OTC ticker: ITXP) (“Independence Power” or the “Company”) today announced its transition to a public-reporting company following the successful completion of its business combination with TriUnity Business Services Limited. The Company is focused on addressing the critical energy gap in the Permian Basin—a region that would be the world’s fifth largest oil producer if it were its own nation.

The Solution: Behind-the-Meter Microgrids

Independence Power deploys behind-the-meter microgrids in the form of battery energy storage systems, or “BESS”, that function as private, on-site power stations.

• 241 MW, 104-unit Deployed BESS Fleet: With 241 megawatts (MW) of energized, utility-scale batteries already under management, Independence Power's proprietary software acts as a "shock absorber" to stabilize power.

• Uptime for AI and Oil: This setup ensures the near-perfect power quality needed for both upstream oil production and high-density AI data centers co-located at the source.

• Immediate Deployment: Because these systems are behind-the-meter, they bypass the 30-month interconnection delays often seen with traditional grid power.

• Fueling with Byproduct: Independence Power’s solutions enable capturing natural gas produced as a byproduct of oil drilling and converting it into low-cost electricity right at the source.

Strengthening National Energy Security

Independence Power’s solutions directly improve National Energy Security by ensuring the Permian Basin—responsible for 50% of America’s oil production—remains insulated from grid volatility. By stabilizing the power supply for the nation's most vital energy hub, Independence Power helps protect American energy independence from foreign pressures and domestic grid failure.

Addressing a 13 Gigawatt Power Gap

The Permian Basin is currently outgrowing its regional power grid. According to a comprehensive demand forecast conducted by S&P Global for the Texas energy grid operator, ERCOT, the Permian Basin is currently grappling with a power shortfall of 8 to 13 gigawatts. This gap creates "dirty power"—voltage sags and surges that frequently crash industrial computers and damage high-value equipment.

High-Margin Recurring Revenue

With decades of experience in oil field logistics, founder David J. Durrett empowered Independence Power with an asset-light business model, seeking to generate high-margin recurring revenue as a Power-as-a-Service (PaaS) provider. Independence Power provides the proprietary software "brain" developed specifically for the extreme conditions of the West Texas desert to orchestrate these microgrids.

"Our proprietary software was born in the desert to solve the most difficult power challenges in the oil patch," said Todd Parkin, CEO of Independence Power. "By pairing this technology with our customer’s 241 MW battery fleet, we are providing the stable, recurring energy backbone for both oilfield productivity and the AI revolution.”

About Independence Power Holdings, Inc.

Independence Power is a software-enabled Power-as-a-Service (PaaS) company delivering reliable electricity through behind-the-meter microgrids to ensure national energy security. Utilizing a proprietary software platform and utility-scale batteries, Independence Power converts local natural gas byproducts into stable, high-quality power. This approach lowers costs for oil producers, protects sensitive electronics from "dirty power," and provides the high-quality energy required for behind-the-meter AI compute workloads. Independence Power seeks to generate high-margin recurring revenue as a PaaS provider.

Forward-Looking Statements

This press release and other statements we make may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the Company’s strategic objectives, the anticipated demand for power in the Permian Basin, the scalability of its Power-as-a-Service (PaaS) model, and the expected growth of behind-the-meter AI compute workloads.

Words such as “anticipate,” “believe,” “expect,” “intend,” “project,” “plan,” “address,” and similar expressions are intended to identify forward-looking statements. These statements are based on management’s current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described.

Potential risks include, but are not limited to:

• The Company's ability to successfully scale its proprietary software platform in extreme desert conditions.

• Shifts in the regulatory environment for energy production and "gas-to-wire" conversion in the Permian Basin.

• Changes in the demand for oilfield electrification and the rapid evolution of the AI compute market.

• Fluctuations in the price and availability of associated natural gas byproducts.

• The Company’s ability to manage its 241 MW battery fleet effectively to maintain utility-grade uptime.

• General economic conditions and the volatility of the over-the-counter (OTC) market.

• Other risks as more fully described in the Company’s Current Report on Form 8-K as filed with the Securities and Exchange Commission (“SEC”) on January 7, 2026 and in other filings with the SEC.

Independence Power Holdings, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements. For a more detailed discussion of these and other risks, please refer to the Company’s filings with the SEC, including the Current Report on Form 8-K filed on January 7, 2026.

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KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY HOMELAND SECURITY OIL/GAS PUBLIC POLICY/GOVERNMENT SOFTWARE ENERGY BATTERIES DATA MANAGEMENT ARTIFICIAL INTELLIGENCE

SOURCE: Independence Power Holdings, Inc.

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PUB: 01/12/2026 07:01 AM/DISC: 01/12/2026 07:02 AM

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