TCDC, New Era Helium's JV, signs LOI with Leading Global Provider of High Performance Cloud for AI and Modern Workloads for 250MW AI Data Center Joint Venture in the Permian Basin
New Era Helium, Inc. (NASDAQ:NEHC) ("NEH" or the "Company"), a next-gen exploration and production platform in the Permian Basin, today announced that Texas Critical Data Centers LLC ("TCDC"), NEH's joint venture with Sharon AI, signed a non-binding Letter of Intent ("LOI") with a leading global provider of High Performance Cloud for AI and Modern Workloads, marking a major milestone in NEH's digital infrastructure strategy within the Permian Basin.
Under the terms outlined in the LOI, the joint venture contemplates the acquisition of land and a power purchase agreement for up to 250 megawatts of behind-the-meter electricity, purpose-built to support advanced data center operations and next generation compute infrastructure.
The prospective customer is rapidly scaling its global AI operations and has identified TCDC's Ector County, Texas location as a potential site to further their efforts within the U.S.
TCDC, established in 2024, is advancing the development of a 250MW artificial intelligence (AI) and high-performance computing (HPC) campus in Ector County, Texas. The planned 250MW facility is being designed to meet surging demand for AI and cloud GPU infrastructure, integrating advanced energy and cooling technologies to reduce environmental impact while delivering best-in-class operational efficiency. Work is progressing on final site due diligence on its intitial 235 acres, which is set to close on or before July 10, 2025. The next project milestones are expected to include updates on natural gas supply and advancing grid interconnection planning.
E. Will Gray II, CEO of New Era Helium, Inc. commented: "This agreement marks a pivotal step in aligning our energy platform with the surging demand for AI infrastructure. By combining our strategically located assets in the Permian Basin with a next-gen AI partner, we're unlocking a powerful opportunity to participate in the digital buildout of tomorrow's economy right at the intersection of energy and innovation."
About New Era Helium, Inc.
New Era Helium, Inc. is a next-gen exploration and production platform unlocking the full value of its Permian Basin assets. The Company controls over 137,000 acres in Southeast New Mexico, with more than 1.5 Bcf of proved and probable helium reserves sourced alongside natural gas production. Through its joint venture, Texas Critical Data Centers, LLC, NEHC is capturing multi-sector growth across helium, power, and data infrastructure. For more information, visit www.newerahelium.com. Follow New Era Helium on LinkedIn and X.
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