Joulent Valuation, Funding & Investors

Joulent is valued at $5B as of June 2026.

Last Joulent valuation

$5B

Undisclosed stage · Jun 2026

Last Joulent funding round

$1.8B

Undisclosed stage · Jun 2026

Cumulative funding Joulent raised

$1.8B

across 1 funding round

Key investors in Joulent

  • Narragansett Electric

Joulent Overview

About Joulent

Joulent is an energy infrastructure company. It creates large-scale power setups that integrate turbines, battery storage, and renewable sources aimed at data centers and industrial users. The system uses artificial intelligence to manage local and utility resources for reliable high-volume electricity supply.


HQ

United StatesHouston, TX

Status

Privately held

Customer focus

B2B

Revenue model

Services

Valuation

$5B (Jun 2026)

Joulent Valuation

Joulent is currently valued at $5B, based on its undisclosed-stage round in June 2026.

The $1.8B round was led by Narragansett Electric.

Joulent valuation by funding round

Joulent valuation by funding round
DateStageValuation
Jun 2026Undisclosed stage$5B

Joulent Funding History

Joulent has raised a total of $1.8B across 1 funding round.

Joulent funding rounds

Joulent funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Undisclosed stageNarragansett Electric (lead)$1.8B$5BNational Grid Ventures, the commercial arm of National Grid plc, agreed to invest $1.75 billion for a 35% strategic minority stake in Joulent LLC, a U.S. technology-driven energy platform developing multi-gigawatt power infrastructure for large load customers including data centers and AI infrastructure. The investment, announced July 1, 2026, is incremental to National Grid's five-year capital program of at least £70 billion ($90 billion) through 2031 and will be funded from balance sheet headroom, with a final investment decision expected by end-2026. Joulent's flagship Project Kilby, a 2.67 GW co-located power facility in West Texas, is being developed 50/50 with GE Vernova and Energy Forge (a Chevron subsidiary), secured critical equipment including GE Vernova turbines, and aims to deliver power by 2028 under a 20-year power purchase agreement with a Microsoft-operated data center campus. The deal strengthens Joulent's ability to execute its current multi-gigawatt project, advance its pipeline, and scale capabilities, leveraging National Grid Ventures' expertise in power management and supply chain for large-scale projects. Joulent is expected to become free cash flow positive from the early 2030s, potentially supporting further projects or distributions to joint venture partners. J.P. Morgan analysts expect returns above National Grid's regulated network equity target of 9-10%, reflecting a slightly higher risk profile. Joulent was formed by Engine No. 1 and has raised $1.75 billion in disclosed funding solely from this strategic investment.

Who has invested in Joulent?

1 investor has backed Joulent across its funding rounds, including Narragansett Electric.

Lead investors include Narragansett Electric.


Joulent Investors

Investors in Joulent by funding rounds participated
InvestorHQRoundsRoleFirst check

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Joulent Competitors

Joulent competitors include listed companies like Royal Vopak, Gibson Energy, Enagas and Aegis Logistics, and private ones like Ocensa and Sunwoda Electric Vehicle Battery.

Public and private companies comparable to Joulent
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Royal VopakNetherlandsNetherlandsPublicly listed$1.5B$1.3B$6.3B6.4x
Gibson EnergyCanadaCanadaPublicly listed$7.7B$406M$4B0.7x
OcensaColombiaBogotáPrivate--$5B-
Sunwoda Electric Vehicle BatteryChinaShanghaiPrivate$2.2B-$5B2.3x
EnagasSpainSpainPublicly listed$1.1B$843M$5B7.2x
Aegis LogisticsIndiaIndiaPublicly listed$864M$158M$4.9B5.3x

Joulent Public Comps

Joulent is still privately-owned, but its public comps include Enagas, Aegis Logistics, Hess Midstream, Golar LNG, Transportadora de Gas del Sur, Archrock, International Seaways, Plains GP Holdings, Brookfield Infrastructure and Petronet LNG.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Enagas$1.1B$843M6.6x7.2x8.7x9.8x
Aegis Logistics$864M$158M6.0x5.3x32.9x27.3x
Hess Midstream$1.6B$1.2B5.4x5.4x7.0x7.0x
Golar LNG$394M$152M18.0x17.3x46.6x23.7x
Transportadora de Gas del Sur$1.1B$597M3.8x3.2x7.2x6.0x
Archrock$1.5B$850M5.3x5.2x9.2x8.9x
International Seaways$843M$508M6.8x4.7x11.3x6.6x
Plains GP Holdings$44B$2.8B0.6x0.5x9.6x9.3x

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Common questions about Joulent

Where is Joulent headquartered?Joulent is headquartered in Houston, TX, United States.
Is Joulent publicly listed?No, Joulent is a private, VC-backed company.
What is Joulent's valuation?Joulent was last valued at $5B in its undisclosed-stage round in June 2026.
How much funding has Joulent raised?Joulent has raised $1.8B across 1 funding round.
What was Joulent's last funding round?Joulent's last funding round was a $1.8B undisclosed-stage round in June 2026, led by Narragansett Electric.
Who are Joulent's investors?Joulent's investors include Narragansett Electric.
Which companies are comparable to Joulent?Companies comparable to Joulent include Royal Vopak, Gibson Energy, Ocensa, Sunwoda Electric Vehicle Battery, Enagas and Aegis Logistics.

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