TRTLU - TRTLU STOCK NEWS

One Energy Enterprises has announced the selection of Selena Cuffe to join the board of directors of One Power Company, the entity that will emerge after its business combination with TortoiseEcofin Acquisition Corp. III (TRTL). The Business Combination will also see TRTL seeking shareholder approval for the transaction and appointment of director nominees, including Ms. Cuffe. Ms. Cuffe brings a wealth of experience, currently serving as Chief Growth Officer for Blackstone Consulting and RJB Properties, and as a Los Angeles Branch Director for the Federal Reserve Bank of San Francisco. She holds an MBA from Harvard Business School and a Bachelor of Arts in International Relations from Stanford University. The newly formed board will include seven members with expertise in strategy, development, finance, and energy policy, and the company expects to list on the NYSE under the ticker symbol 'ONE' later this year.

One Energy Enterprises announced the successful closure of an oversubscribed $35+ million Series A Preferred Round. The company plans to use the proceeds to pursue business plans and fund working capital needs before the expected closing of its proposed business combination with Tortoise Ecofin Acquisition Corp. III (TRTL). $2 million of the funds is expected to close by the end of May 2024, with the remaining contingent upon specific conditions by August 1, 2024. Upon the proposed business combination closing, the Series A shares will either convert into common stock or be exchanged for new preferred shares. The company is also exploring additional financing opportunities prior to the business combination closure.

One Energy Enterprises Inc. launches the 'Just Roll' electric semi-truck trial program, inviting fleet operators to test the Daimler eCascadia Class 8 Battery BEV. The program offers qualified operators the opportunity to test the trucks on their normal routes at no cost for 30-60 days, providing the use of state-of-the-art charging infrastructure and covering the cost of power. The company recently announced the energization of its 30-megawatt electric semi-truck fleet charging site, the largest in the U.S. in terms of available charging capacity. The goal is to accelerate the adoption rate of electric semis in the U.S. Heartland, where the economics of electric semi-trucks are more attractive. Interested fleet operators can learn more at www.JustRollBEV.com.

One Energy unveils 30 MW electric semi-truck fleet charging site in Findlay, Ohio

One Energy and Ohio Logistics extend collaborative project to explore electric semi-truck technologies. Tests comparing electric and diesel trucks underway. One Energy provides charging infrastructure and power. Orange EV e-TRIEVER and Freightliner eCascadia models being tested. One Energy building permanent charging station. Ohio Logistics plans to explore more electric fleet technologies. Shared vision to make region a leader in electric trucking. Opportunities for new partnerships and ways of operating.

One Energy's first Megawatt Hub in Findlay, Ohio has begun commercial operations, providing high-volume power connections for industries. The hub is a 30 MW site expandable to 150 MW and includes the first fully digital, plug-and-play, transmission-voltage substation in the US. The hub will initially host a digital currency mining tenant and feature a charging pad for electric semi-trucks. The hub could charge up to 90 electric semi-trucks simultaneously, making it attractive to large fleets and operators. One Energy plans to solve power problems for emerging industries.

One Energy completes energization and testing of its fully digital transmission-voltage substation in Findlay, Ohio, marking the first in the US. CEO Jereme Kent emphasizes the need for secure, resilient, and real-time condition monitoring substations. The substation features Schweitzer Engineering Laboratories' TiDL system and Hitachi Energy's transformer and circuit breakers with advanced condition monitoring capabilities. Safety measures include solid concrete walls, no exposed live parts, and fire suppression systems. The substation is expected to benefit other One Energy business lines. Former Chairman of the Federal Energy Regulatory Committee, Jon Wellinghoff, praises the substation's superiority in terms of cost, speed, and reliability compared to traditional utility-built substations.

One Power and TortoiseEcofin Acquisition Corp. III have entered into a definitive Business Combination Agreement for a merger. One Power is a vertically integrated industrial power solutions company specializing in wind energy. The transaction includes binding contracts with well-known industrial clients and mechanisms to prioritize shareholder interests. The gross proceeds of $345 million will be used to execute on the company's business plan. The implied pre-money enterprise value of One Power is $300 million.