New Era Helium Inc (NASDAQ:NEHC) told investors that its computing joint venture has inked a deal to secure power to the project.
The firm’s Texas Critical Data Centers (TCDC) joint venture vehicle has signed a non-binding memorandum of understanding with PowerForward Energy Solutions (PFES), potentially for 250 megawatts of on-site power.
This will support a planned AI and high-performance computing campus in Ector County. Here, the first 100 megawatts are expected within 12 months of project funding, with full deployment targeted within 18 months.
TCDC – a partnership between New Era Helium and Sharon AI Inc - aims to meet growing demand for cloud GPU and AI infrastructure.
The partnership is also in talks to secure offtake from intrastate and interstate natural gas transmission lines located in close proximity to the property, noted New Era chief executive Will Gray.
“We are excited about what we are building in Ector County and believe that access to low-cost, reliable power is key to attracting top-tier partners,” Gray said in a statement.
“As we expand our strategic focus to include natural gas and data center infrastructure, we are positioning New Era Helium to deliver long-term value across multiple energy verticals.”
Sharon AI chief executive Wolf Shubert, meanwhile, added that PFES bring considerable power experience to the project.
“We believe their ability to deliver substantial capacity over 12-18 months allows us to offer a highly commercial solution to customers looking to deploy as soon as feasible,” Shubert said.