New Era Helium Inc (NASDAQ:NEHC) and its joint venture partner Sharon AI have signed a Letter of Intent (LOI) to acquire 200 acres in Ector County, Texas, to develop a 250MW net-zero energy AI and high-performance computing (HPC) data center.
The LOI was signed with GROW Odessa, an economic development corporation that supports business expansion in the region.
The project, led by New Era Helium and Sharon AI’s joint venture Texas Critical Data Centers (TCDC), is strategically positioned near key infrastructure, including fiber optic networks, natural gas pipelines, and CO₂ pipeline systems.
The site is expected to leverage carbon capture utilization and storage technologies, facilitating a pathway to net-zero energy through enhanced oil recovery.
Meanwhile, TCDC has begun planning the data center, a natural gas-fired power plant, and fiber connectivity, aiming to launch the initial phase by late 2026.
A natural gas supply contract with New Era Helium is anticipated in the second quarter to ensure stable and cost-effective energy.
“With the initial site now identified, TCDC is poised to execute on its planned power strategy for the behind the meter data center campus,” New Era Helium CEO Will Gray said in a statement.
“We are excited about what we are building within the Permian Basin and believe access to cheap and reliable power is key to attracting top tier partners."