Business
New Era Energy & Digital Partners with Stream Data Centers for Flagship TCDC Campus
MIDLAND, Texas, April 01, 2026--New Era Energy & Digital, Inc. (Nasdaq: NUAI) ("New Era" or the "Company"), a developer and operator of next-generation digital infrastructure and integrated power assets in the Permian Basin, today announced that it has entered into a non-binding letter of intent ("LOI") to form a joint venture for the development and financing of its Texas Critical Data Centers campus ("TCDC") in West Texas.
About this update from New Era Energy & Digital, Inc.
[{"type":"text","content":"MIDLAND, Texas, April 01, 2026--(BUSINESS WIRE)--New Era Energy & Digital, Inc. (Nasdaq: NUAI) ("New Era" or the "Company"), a developer and operator of next-generation digital infrastructure and integrated power assets in the Permian Basin, today announced that it has entered into a non-binding letter of intent ("LOI") to form a joint venture for the development and financing of its Texas Critical Data Centers campus ("TCDC") in West Texas.","length":489,"tagName":"p"},{"type":"text","content":"The joint venture will bring New Era together with Stream Data Centers ("Stream"), a Tier-1 U.S. data center development and operating platform, with equity capital provided by a third-party sponsor and arranger of institutional capital (the "Institutional Investor") with significant experience in digital infrastructure and energy investments.","length":365,"tagName":"p"},{"type":"text","content":"Strategic Rationale","length":19,"tagName":"p"},{"type":"text","content":"The LOI outlines a joint venture development structure in which New Era contributes its site control and local relationships, the Institutional Investor contributes equity capital and sources debt financing, and Stream provides its institutional-grade development, leasing and operating capabilities.","length":300,"tagName":"p"},{"type":"text","content":"Stream is expected to serve as development manager and operator for the campus. The Institutional Investor is expected to lead project financing, which is expected to include approximately 80% debt financing on competitive market terms.","length":236,"tagName":"p"},{"type":"text","content":"New Era’s contribution of the strategically located project site - together with the right to co-invest significant equity capital alongside the Institutional Investor- reflects the Company’s intention to remain a long-term, meaningful stakeholder in the venture, not merely a land seller.","length":289,"tagName":"p"},{"type":"text","content":"New Era’s equity position in the venture is expected to generate distributions from operating cash flow after commercial operations of the first phase commence, providing a near-term path to recurring revenue.","length":209,"tagName":"p"},{"type":"text","content":"The project is expected to be structured through a newly formed Delaware...