Tue, Jan 21, 2025
New Era Helium and Sharon AI finalize 250MW data center JV
Key points
- New Era Helium and Sharon AI finalized their 50/50 joint venture, Texas Critical Data Centers LLC
- The JV will fund, develop and construct a 250MW net-zero energy data center in the Permian Basin
- Each member contributed $75,000 for a 50% membership interest; final site selection expected in Q1 2025
- NEH is negotiating a fixed-price gas supply agreement with TCDC over five years plus three five-year options
- The 8-K also discloses a $3.0 million senior secured convertible note issued under the December 2024 EPFA
Deal
Unnamed dealJan 2025
SitePermian Basin, Texas
Site update
| Site | Status | Active | In build | Theoretical |
|---|---|---|---|---|
Texas Critical Data Centers (TCDC)Odessa (Ector County), TX JV formation; site not yet selected — multiple candidate sites identified in the Permian Basin, final site selection expected Q1 2025. Planned initial 250MW gas-fired power plant and net-zero data center; JV exploring 45Q CCUS tax credits. | Disclosed | — | — | 250 MW |