A high torque capacity one-way clutch includes a first, inner annulus nested within a second, outer annulus. The inner annulus includes a plurality of transverse grooves on its outer surface as well as a centrally disposed circumferential groove. A like plurality of moveable struts having a central opening are received within respective grooves in the inner annulus and are retained there by a circumferential band passing through the openings in the struts and received in the circumferential groove. The outer annulus includes a plurality of transverse grooves on its inner surface and receives the inner annulus, struts and circumferential band. Upon relative rotation of the annuli in one direction, the struts engage the grooves and inhibit rotation between the annuli, thereby transmitting torque. Upon relative rotation in the opposite direction, the struts slide along the inner surface of the outer annulus without engaging and thus do not transmit torque.