CHICAGO, July 21, 2026 /PRNewswire/ — Hedgehog USA (“Hedgehog” or “the Company”), a developer of next-generation powered land solutions for digital infrastructure, today announced it has entered into a long-term energy supply agreement with Idemitsu, a leading global energy provider, to support its planned data center campus developments. Located in Navarro County, Texas, the campus combines a large-scale development footprint with scalable power generation capabilities, creating a development-ready environment that can support up to 600 MW of data center capacity by the end of 2027.

In accordance with its terms, the agreement provides a pathway to reliable, scalable power capacity for Hedgehog’s initial portfolio of powered land sites, positioning the Company to accelerate development timelines and meet growing demand from hyperscale and enterprise data center users.

The rapid growth of artificial intelligence, cloud computing, and digital infrastructure is driving unprecedented demand for data center capacity and intensifying competition for sites with access to scalable, reliable power. Subject to the terms of the agreement, Idemitsu will provide long-term energy supply solutions tailored to large-load, mission-critical facilities, enabling Hedgehog to deliver fully integrated, energy-ready sites ahead of construction.

“Securing power is increasingly the gating factor in data center development,” said Jeff Barber, Chief Executive Officer of Hedgehog. “The missing element of most powered land strategies has been the full commitment by the landowner to firm gas transport, prior to tenant commitment. With dual pipelines located on the property, this agreement enables Hedgehog to move from land origination to fully executable projects with greater speed and certainty, creating a differentiated platform for our customers.”

“As Idemitsu continues to deliver natural gas solutions to the U.S. gas and data center markets, we believe that partnering with our customers for pipeline infrastructure and firm transportation capacity is essential to creating a truly shovel-ready development,” said John Happ, Chief Commercial Officer & SVP: Gas & Power Trading, Idemitsu. “The Idemitsu and Hedgehog collaboration exemplifies this approach by facilitating investment in pipeline capacity and related infrastructure in advance of the commercial operation date (COD).

We view this model as the most effective way to market “powered land” when a Behind-the-Meter strategy is employed. Hedgehog is bringing together all the critical elements required to establish a genuine powered-land platform. It is exceptionally uncommon for a landowner to make this level of infrastructure commitment in advance of development. We believe this approach will become the industry standard as Behind-the-Meter power solutions continue to gain adoption across the data center sector,” Happ continued.

“For more than 25 years, we have built our business at the intersection of energy markets, infrastructure, and capital. As AI and cloud computing drive unprecedented demand for data center capacity, access to reliable power has become the defining factor in project development. Our longstanding relationships across the energy ecosystem and deep understanding of power markets position us to secure the energy solutions our clients need to scale with confidence,” said Gerry Willinger, Managing Director, Marathon Capital.

Marathon Capital continues to serve as exclusive financial advisor for the sale of 100% of the project, while providing strategic guidance on development, commercialization, and market positioning.

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About Hedgehog USA

Hedgehog USA Inc is a powered land data center developer based in Plano, Texas. The Company’s differentiated strategy is to deliver truly shovel-ready, power-first sites with a fully designed Behind-The-Meter approach engineered for the next era of hyperscale and high-density AI compute. Hedgehog’s framework includes the long-term commitment to natural gas contracts and full ownership of the property with all mineral and surface rights secured prior to any customer engagement. Backed by a leadership team with decades of data center development, utility and real estate experience, the Company bridges the gap between massive power scale and institutional readiness, ensuring absolute sovereignty over cost, operational independence, and development timeline certainty.

About Idemitsu

Idemitsu Kosan Co., Ltd. is one of Japan’s largest energy and industrial companies, engaged in fuels, petrochemicals, high-performance materials, lubricants, renewable energy, and advanced energy services. Through Idemitsu Americas Holdings, the company is expanding its U.S. presence with nationwide natural gas supply operations and exploration of energy services for data centers, including immersion cooling, diesel backup support, and battery storage solutions.

About Marathon Capital

Marathon Capital is the largest independent investment bank dedicated to servicing the clean economy. Throughout its 25-year history, the firm has played a pivotal role in many of the groundbreaking and transformative transactions for new and emerging sectors, consistently delivering exceptional results for its clients. The firm is a leading global financial adviser across M&A, equity capital solutions, debt capital solutions, tax capital solutions, offtake solutions, and strategic advisory. Marathon Capital is headquartered in Chicago, with offices in New York, Houston, San Francisco, San Diego, London, and Calgary, with local presence in Madrid and Seoul.