Decentralized energy as a structural response to grid constraints

U.S. power grids are experiencing increasing strain from data centers, electrification, and rising demand, while expanding centralized capacity often requires long lead times. This supports growing interest in localized and decentralized energy solutions as a complement to the traditional grid.

NХХТ operates in this segment, providing on-site energy delivery and microgrid-style solutions for customers with high reliability requirements, including fleets, healthcare, and commercial facilities.

NFA. Do your own research.

In Q3 2025, the company reported approximately 6.5 million gallons delivered versus about 1.9 million a year earlier. December 2025 volumes are tracking around 2.5 million gallons compared to roughly 620,000 last year, and management’s Q4 2025 guidance is approximately 7.0 million gallons, which would represent a potential quarterly record.

The data points to rising activity alongside grid pressure, though execution and capital efficiency remain key considerations.

Question**:** Do you view decentralized energy as a long-term investment theme, or primarily a transitional solution until grid infrastructure catches up?