New Era Helium Inc (NASDAQ:NEHC) said it plans to enhance its value by generating behind-the-meter power to support the AI-driven economy.
The company released a statement Wednesday outlining its plans to support the AI-driven economy by leveraging its helium and natural gas assets in the Permian Basin.
New Era told shareholders it remains on track to meet key production milestones and is evaluating an integrated energy strategy.
CEO Will Gray said the company is shifting focus to maximizing natural gas value for AI power needs.
“We are at a pivotal moment in New Era Helium’s growth, where our vision for next-generation energy solutions is becoming a reality,” Gray said in the statement.
“We seek to optimize this strategy through our efforts within our Pecos Slope footprint as well as through accretive acquisition opportunities. Since 95% of the world’s helium is associated with natural gas, New Era Helium is strategically positioned to support the growing computing and processing demands of AI.”
New Era Helium also aims to use its natural gas reserves to generate electricity for AI data centers. It expects its Pecos Slope Gas Field to produce about 70 megawatts (MW) of power for 20 years, rather than selling gas as a commodity.
As part of this strategy, its joint venture, Texas Critical Data Centers, recently signed a non-binding letter of intent to acquire land in Texas for a planned 250MW net-zero AI and high-performance computing center.
Helium, essential for semiconductor manufacturing and AI applications, faces supply constraints, prompting increased domestic demand under the CHIPS and Science Act.
A formal update on its Pecos Slope processing plant is expected soon.