Feb. 27—MIDLAND — New Era Helium, Inc., a leading exploration and production (E&P) company sourcing helium from natural gas reserves in the Permian Basin and its joint venture partner, Sharon AI, Inc. ("Sharon AI") a High-Performance Computing business focused on Artificial Intelligence, Cloud GPU Compute Infrastructure and Data Storage, announce that their joint venture, Texas Critical Data Centers, LLC, has signed a Letter of Intent to acquire 200 acres in Ector County for the development of a 250MW net-zero energy AI/HPC data center.
The LOI was signed with GROW Odessa, an economic development corporation formed in 1966 to assist businesses with expansion and to attract new compatible industry to Odessa.
GROW Odessa has a successful track record of attracting new business opportunities to Ector County and will work with TCDC as a first mover to initiate a behind the meter Data Center Campus with an intended pathway to Net Zero Energy, a news release said. Ector County is expected to be well suited for net zero power due to existing CO2 infrastructure and its ability to facilitate Carbon Capture Utilization Storage via enhanced oil recovery.
The acquisition of the large-scale site is contingent on completion of due diligence and negotiation of definitive documents expected within the next ninety days. This site is one of several identified by the joint venture and is located near key infrastructure, including fiber optic cable, two natural gas transmission lines, and CO₂ pipeline infrastructure. The intended utilization of CCUS and energy transition technologies makes it an attractive location for developing scalable, energy-efficient AI/HPC infrastructure.
Work has commenced on plans for the data center, natural gas-fired power plant and fiber connectivity, with the expectation of bringing the initial phase of the project online in late 2026, the release said. TCDC also expects to finalize a natural gas supply contract with New Era Helium in Q2 2025, providing low-cost energy and price stability for the project.
The next project milestones are expected to include updates on certain entitlements for the site, selection of power generation and CO2 capture technology, appointment of technology partners, as well as ongoing conversations with potential offtake partners, which may include hyperscalers and other large energy users.
E. Will Gray II, CEO of New Era Helium, Inc. commented: "With the initial site now identified, TCDC is poised to execute on its planned power strategy for the behind the meter data center campus. New Era Helium is pleased to be working with GROW Odessa and will work towards the necessary due diligence in order to close on the planned site in a timely manner. While working on the closing of the site in Ector County, the Company is in parallel working with certain contractors for the design and buildout of the 250MW data center campus. We are excited about what we are building within the Permian Basin and believe access to cheap and reliable power is key to attracting top tier partners."