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Midland, Texas, January 21, 2025. New Era Helium, Inc. (Nasdaq: NEHC) and Sharon AI, Inc. finalized their joint venture, Texas Critical Data Centers (TCDC) LLC, to build a 250MW net-zero energy data center in the Permian Basin. This follows a December 2024 letter of intent. The JV will fund, develop, and construct the data center, leveraging New Era Helium's natural gas resources and Sharon AI's expertise in AI/HPC.
New Era Helium is negotiating a long-term gas supply agreement with TCDC, expected to be finalized within 30 days. This agreement will provide a fixed price for natural gas over five years, with three five-year options. TCDC is identifying sites within the Permian Basin with access to New Era Helium's gas, fiber optic cable, and infrastructure, and exploring 45Q Tax Credits for carbon capture. The companies aim to announce the final site selection in Q1 2025, along with further updates on power generation and offtake partners.
E. Will Gray II (CEO, New Era Helium) stated this reflects their goal of building innovative energy infrastructure for the AI/HPC sector. Wolf Schubert (CEO, Sharon AI) highlighted the high demand for large-scale, low-cost, net-zero data centers in the US.
New Era Helium is an E&P company sourcing helium from natural gas reserves in North America. Sharon AI focuses on AI, Cloud GPU Compute Infrastructure, and Data Storage.