Sep. 2 at 6:15 PM
$EROC If you think data center grid pushback hurts these guys, you don't understand the business. The pullback into the
$10-handle on broad data center power headline noise is a gift of a mispricing, IMO.
Grid delays, utility interconnection queues, and local pushback don't kill AI compute demand... they force hyperscalers to deploy on-site bridge power immediately. Every grid bottleneck simply accelerates demand for ERock’s modular microgrids.
The fundamental setup I'm looking at:
- Contracted demand: Backlog expanded to ~
$1.7 Billion (up 10x YoY), anchored by a 470 MW Anthropic purchase order extending into 2028.
- Active deployments: Under construction on the 366 MW El Paso Electric project supporting Meta’s data center campus.
- Fortress balance sheet:
$626.6M in unrestricted cash, zero debt, and an undrawn
$250M credit facility.
- Scaling operations: Hyperion manufacturing online in Houston to deliver on full-year 2026 guidance (
$435M–
$465M revenue).
In my view, infrastructure expansion is a national priority that isn't just going to stop. That's why I picked up a nice piece of common in the
$10.80 range this morning. Round 1 was highly profitable... reloading the stack down here. Just my two cents. Do your own DD.
