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, January 12, 2026–(BUSINESS WIRE)–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.
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:
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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