New Era Helium Inc (NASDAQ:NEHC) CEO Will Gray talked with Proactive about a landmark memorandum of understanding signed with PowerForward Energy Solution as part of efforts to advance the company’s 250 megawatt data center project in the Permian Basin.
Gray explained that while New Era Helium is known for its helium initiatives, the company is expanding its role across energy and infrastructure. A key part of this effort involves securing power independently of the strained grid infrastructure, making use of natural gas and behind-the-meter generation through reciprocating engines.
He noted that the company selected PowerForward due to its domestic manufacturing partner Progen, as well as factors such as timing, tariffs, and equipment reliability. Gray emphasized, “PowerForward, you know, they're partnerships with Progen. Progen is one of the top recip engine manufacturers within the United States.”
The project’s strategic location is central to its appeal—positioned in the Permian Basin, with proximity to both intra- and interstate pipelines that allow for power redundancy. This is crucial for hyperscaler clients seeking 100% reliability. Gray also outlined the company’s ongoing coordination with local authorities to manage permitting, utilities, and tax arrangements.
He explained that demand for powered land is surging as grid connections face lengthy delays, with over 120 gigawatts of applications currently in Texas's Ercot queue. “Hyperscalers are looking to people like us that develop the land with powers called powered land,” Gray stated, highlighting how New Era Helium is positioning itself as a key intermediary in this high-demand market.