TortoiseEcofin Acquisition Corp. III Announces Filing of S-4 Registration Statement for its Proposed Business Combination with One Energy Enterprises Inc. to form One Power Company

TortoiseEcofin Acquisition Corp. III (“TRTL”) (NYSE: TRTL), an energy transition-focused special purpose acquisition company, announced that TRTL Holding Corp., a Delaware corporation and wholly-owned subsidiary of TRTL (“Pubco”), publicly filed a registration statement on Form S-4 (the "Registration Statement") with the U.S. Securities and Exchange Commission ("SEC") in connection with TRTL’s proposed business combination (the “Business Combination”) with One Energy Enterprises Inc. (“One Energy”), responding to the SEC’s comments on the draft registration statement previously filed confidentially.

After the proposed Business Combination is consummated (the “Closing”), Pubco, which will be renamed One Power Company (“One Power”) at Closing, will continue the business of One Energy and is expected to be listed on the New York Stock Exchange under the ticker symbol “ONE”. The proposed Business Combination is expected to close in the second half of 2024, subject to satisfaction (or waiver, as applicable) of closing conditions which include, without limitation, approval by TRTL's shareholders and One Energy's stockholders.

Established in 2009, One Energy is a vertically integrated industrial power solutions provider located in Findlay, Ohio. One Energy specializes in developing, constructing, owning, and operating state-of-the-art, behind-the-meter power solutions, including wind energy, for well-known industrial clients under long-term take-or-pay contracts.

About TortoiseEcofin Acquisition Corp. III

TortoiseEcofin Acquisition Corp. III, Cayman Islands exempted company, was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination.

About One Energy

One Energy Enterprises Inc. (One Energy) is an industrial power company and the largest installer of on-site, behind-the-meter, wind energy in the United States. Recognizing that many large energy consumers want alternatives to legacy utilities, One Energy has developed modern energy services intended to help customers control cost and risk, such as Wind for Industry and Managed High Voltage, both elements of One Energy’s plans to build a customer-centric grid of the future. Founded in 2009, One Energy is headquartered in Findlay, Ohio, and currently has approximately 75 employees.