New Era Helium Inc (NASDAQ:NEHC) announced that its 50/50 joint venture with Sharon AI, Texas Critical Data Centers, has closed on the purchase of 235 acres in Ector County, Texas, from Grow Odessa for the development of a large-scale AI and high-performance computing (HPC) campus.
The site will host infrastructure including advanced energy systems, cooling technologies, and the potential for carbon capture, utilization, and storage to enhance efficiency and reduce environmental impact, the company said.
“Closing on this site marks a key milestone in our strategy to align Permian Basin energy assets with the explosive growth in AI and HPC demand,” New Era Helium CEO E Will Gray II said in a statement.
“It advances our long-term vision to transform these resources into critical digital infrastructure, creating a high-impact, future-ready platform that will deliver scalable growth and meaningful value for shareholders.”
Texas Critical Data Centers has also signed an exclusive letter of intent with Grow Odessa to acquire an additional 203 contiguous acres, which would expand the site to a total of 438 acres.
The location is strategically positioned near fiber optic cable, multiple intrastate natural gas transmission lines, and CO₂ pipeline infrastructure to support the facility’s operational needs.
To advance the buildout, the joint venture will apply to form an Industrial District with the City of Odessa to access municipal services such as water and wastewater treatment.
The acreage is currently within Ector County but outside Odessa city limits. As such, forming the Industrial District would allow the project to retain Ector County zoning regulations, which are expected to benefit development speed and flexibility.