SEC Filing Document

Company: ERock, Inc.
Ticker: 
CIK: 2110029
Filing Type: S-1
Document Type: S-1
Date Filed: 2026-05-15
Accession Number: 0001193125-26-227199
Exchange: 
SIC Code: 3620
SIC Description: Electrical Industrial Apparatus
URL: https://www.sec.gov/Archives/edgar/data/2110029/000119312526227199/d12401ds1.htm

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• “NMHC” refers to non-methane hydrocarbons. • “NOCs” refers to network operations centers. • “NOx” refers to nitrous oxides, including nitric oxide and nitrogen dioxide. • “O&M” refers to operations and maintenance. • “PJM” refers to PJM Interconnection, the regional transmission organization coordinating the wholesale electricity market in all or parts of 13 states and the District of Columbia. • “Preferred Units” refers to the interests in ER Holdings called “Preferred Units” that are outstanding prior to the Classification. • “prime power rating” refers to, as defined by the industry standard ISO8528-1, is the maximum power which a generating set is capable of delivering continuously while supplying a variable electrical load when operated for an unlimited number of hours per year under the agreed operating conditions with the maintenance intervals and procedures being carried out as prescribed by the manufacturer. Table of Contents • “RTO” refers to regional transmission organization.

• “SCADA” refers to supervisory control and data acquisition systems.

• “Tier 2” refers to capacity additions that include capacity that has been requested but that has
not received approval for planning requirements.

• “transient performance” refers to our power systems’ ability to respond to sudden changes in
electrical load, including how quickly and how stably it can adjust its output and maintain voltage and frequency when the load increases or decreases unexpectedly.

• “TRIR” refers to total recordable incident rate.

• “TWh” refers to terawatt-hour.

• “utility-grade” refers to electrical power produced with voltage, frequency and reliability
characteristics consistent with those provided by an electric utility.

• “WECC” refers to the Western Electricity Coordinating Council.

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PROSPECTUS SUMMARY

This summary highlights selected information discussed in this prospectus. The summary is not complete and does not contain
all of the information you should consider prior to making an investment decision with respect to our Class A common stock. Therefore, you should read this entire prospectus carefully, including the sections titled
“Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our financial statements and the related
notes included elsewhere in this prospectus, before making a decision to purchase shares of our Class A common stock. Some of the statements in this summary constitute forward-looking statements. See
“Cautionary Statement Regarding Forward-Looking Statements.”

Overview

We are a vertically integrated company that designs, deploys, operates and maintains multi-purpose distributed power systems,
consisting of our proprietary, low emission, quick-response natural gas generator and embedded software technology, for our customers. Our resilient, cost-effective, modular power systems can be rapidly deployed at a scale of more than 1 GW to meet
our customers’ full range of power needs, including bridge, backup and dispatchable power applications, and are supported by our operations and maintenance (“O&M”) and asset management services. We deploy our systems in three
applications: bridge (prime-to-backup), backup (resiliency) and dispatchable (flexible capacity) power.

• Bridge power
(prime-to-backup) . Our power systems deliver prime power in the near-term to accelerate time-to-power ahead of long-lead grid upgrades, which prevent our customers
from getting grid power. Once interconnection becomes available, the same assets typically transition to backup or flexible dispatch power service to support the customer or utility.

• Backup power (resiliency) . Our power systems provide highly reliable continuity for mission-critical
operations during grid disruptions and extreme weather events, and many of our existing deployments operate in this mode today.

• Dispatchable power (flexible capacity) . Our power systems are configured as on-demand, fast-response
resources and can be deployed by contract to market-facing objectives (such as peak-load management or grid-stability services).

We primarily serve data centers, utilities and large C&I businesses across nine U.S. states, with our largest operating
footprints located in California and Texas, where we anticipate disproportionate growth and market potential driven by high data center demand in the near- and medium-term. With over 15 years of operational experience, over 2,000 deployed units
across approximately 400 operational sites consisting of an installed base of approximately 1,000 MW and Contracted Power System Sales Backlog of approximately $1.3 billion as of March 31, 2026, we believe we are one of the most established,
proven providers of bridge, backup and dispatchable power applications for the growing distributed power generation market.

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As of March 31, 2026. Target states represent those currently in our pipeline or designated
as target geographies by our management.

Over the last 15 years, we have established deep expertise and a proven track
record in the deployment of complex integrated power systems through our ERock Platform. We refer to the delivery and operation of our generators and integrated software technology through our comprehensive, turnkey equipment, supply and
installation (“ESI”), O&M and asset management services platform, supported by our deep development, operational and market domain expertise in integrated power systems, as our “ERock Platform.”

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Most of our sales include the comprehensive design, delivery, installation
and long-term services provided by the ERock Platform, with platform sales representing 100% and 98% of all generator sales booked in 2024 and 2025 respectively. Leveraging our ERock Platform, we help customers meet evolving energy demands by
delivering cost-effective, turnkey speed-to-power and resiliency solutions that supplement and maximize traditional grid infrastructure. Our power systems are engineered for superior operational stability,
including:

• Reliability . Our systems are capable of 99.999% reliability.

• Diesel-equivalent transient performance . Our generators meet or exceed rigorous ISO 8528-5 G3 diesel standards, delivering fast, stable responses to sudden load swings, and we believe we are currently the only provider of natural gas generation that meets utility-grade transient performance
requirements for diesel units, which reduces the need for additional technology to deliver required power quality.

• Quieter, cleaner and rapidly deployed . Our power systems are typically quieter, cleaner, more resilient
and dispatchable, and can be deployed and commissioned more rapidly than traditional grid infrastructure and other conventional alternatives.

• No on-site water required . As water use by data centers is receiving increasing scrutiny, our power
systems are designed to operate with no on-site water required.

Our experienced O&M teams handle
all aspects of preventive and corrective maintenance, and our purpose-built software that is embedded in our power systems provides extensive operational data capture and analytical capabilities, enabling greater resilience of generator technology
and dynamic, insight-driven maintenance schedules. These performance attributes and our expertise in developing, deploying and maintaining integrated power systems differentiate us from our competitors and support our strong customer relationships,
which is evidenced by our proven track record of delivering reliable, integrated power solutions.

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Once connected to the grid, we also assist customers to maximize the return
on their investment in our power systems by leveraging its multi-purpose dispatchable power capabilities through our market operations and dispatch management platform, acting as advisor or agent for owners of our deployed power systems of
761 MW. These services allow customers to utilize our power systems for backup power as and when needed or to strategically dispatch capacity from our power systems during peak demand or scarcity events—ultimately enabling our power
systems to become a grid asset. Our asset optimization capabilities and market expertise enable us to monetize our power systems capacity, reduce costs to customers in almost any market and reduce times to grid interconnection. Our distributed power
systems have consistently operated in support of the grid.

Over the past eight years, we have supported over 236,000 Grid
Support Events. Each event represents a documented start and stop of our distributed generation systems undertaken to provide power to the grid during periods of actual or anticipated grid constraints, either in response to a direct request from the
grid operator or pursuant to incentive based programs, such as scarcity pricing or peak demand load shed programs, that compensate generators for providing such support. Under our O&M and asset management services agreements, customers authorize
us to dispatch and operate the power systems during Grid Support Events when their operations do not require dedicated output from our power systems. When the grid is down, our power systems can displace grid supply (i.e., island the
customer’s load from the grid) and provide utility-grade power directly to the customer; when the grid is operating normally, our power systems remain interconnected and operate in parallel with the grid, enabling us to deliver grid-supporting
services. During Grid Support Events, when customer operations allow, we can provide the available capacity of our power systems through both offsetting the customer’s load consumption and exporting any additional available capacity to the
grid in exchange for program based compensation or other incentives that benefit our customers. We believe this operational experience is increasingly valuable as grid operators seek alternative tools to address resource adequacy and congestion
management for large loads. Power outage responses and power quality operations are separate from, and in addition to, these Grid Support Events.