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New Era Helium and Sharon AI Finalize Newly Created Joint Venture, Texas Critical Data Centers LLC, To Build 250MW Net-Zero Energy Data Center in the Permian Basin
MIDLAND, Texas--(BUSINESS WIRE)-- New Era Helium, Inc. (Nasdaq:NEHC) (“NEH,” “New Era Helium” or the “Company”), an exploration and production (E&P) company
About this update from New Era Energy & Digital, Inc.
[{"type":"text","content":" MIDLAND, Texas--(BUSINESS WIRE)--\nNew Era Helium, Inc. (Nasdaq:NEHC) (“NEH,” “New Era Helium” or the “Company”), an exploration and production (E&P) company sourcing helium produced in association with natural gas reserves within the Permian Basin, is pleased to announce the finalization of its previously announced 50/50 joint venture (“JV”) with Sharon AI, Inc. (“Sharon AI”), a High-Performance Computing business specializing in Artificial Intelligence, Cloud GPU Compute Infrastructure, and Cloud Storage. The newly created joint venture, named Texas Critical Data Centers (“TCDC”), LLC will be a collaboration to fund, develop, and construct a cutting-edge 250MW net-zero energy data center within the Permian Basin.\n\n\nA Groundbreaking Partnership for Clean Energy and AI/HPC\n\n\nIn December 2024, the two companies executed a binding letter of intent (LOI) to develop and operate a 250MW net-zero energy data center in the Permian Basin [read here]. This milestone agreement marks a significant leap in leveraging clean energy for AI/HPC-driven industries.\n\n\nNew Era Helium is currently negotiating with Texas Critical Data Centers LLC a long term offtake gas supply agreement which is expected to be finalized within the next 30 days. The details of the gas supply agreement will provide New Era Helium a fixed price for its natural gas over a five-year period plus three options of an additional five years each, for a total of 20 years. This ensures the large-scale data center project will benefit from low-cost, net-zero energy as well as long-term energy price stability, which makes the project strategically well positioned to address the rising energy demands of AI/HPC workloads.\n\n\nTexas Critical Data Centers LLC currently has multiple sites identified within the Permian Basin that will allow it to access New Era Helium’s natural gas via various existing gas transmission lines while siting the data center in close proximity to existing fibre optic cable and associated infrastructure. It is also working to identify the most efficient manner to access certain 45Q Tax Credits associated with Carbon Capture Utilization and Storage “CCUS”. The ability to capture the anthroprogenic CO2 and dispose of it will help make this data center a true first of its kind.\n\n\nThe next major goal for this collaboration will be the announcement o...