New Era Helium Inc (NASDAQ:NEHC) said that its data center joint venture with Sharon AI Inc has begun due diligence on a 235-acre site in Texas.
The two companies are working together to develop a 250-megawatt net-zero AI and high-performance computing (HPC) facility in Ector County.
The joint venture, Texas Critical Data Centers LLC (TCDC), was established in 2024 with the aim of building an energy-integrated data center campus powered by natural gas with carbon capture technology.
New Era expects to close on the property, originally planned as a 200-acre acquisition, within 90 days.
TCDC is targeting an initial 100MW of capacity to come online by December 2026, with the remainder of the project’s full 250MW capacity expected to follow within six months. The facility will rely on reciprocating natural gas engines and carbon capture systems to support its net-zero goals.
Formal discussions are currently underway with potential customers, according to the company.
New Era is moving ahead with other infrastructure components including gas supply agreements, transmission access, lit fiber connectivity, and customized power plant design.
The company added that it is exploring options to acquire additional acreage adjacent to the site to support future expansion.
“Our strategic vision has always been centered around enabling critical infrastructure through reliable, scalable energy solutions,” said New Era Helium CEO Will Gray.
“With the first phase of the data center development project now underway and a clear path to activation in 2026, we are taking significant steps toward building an energy-integrated platform that supports the future of AI, HPC, and semiconductor innovation.”