New Era Energy & Digital

What New Era Energy & Digital does

New Era Energy & Digital, Inc. (Nasdaq: NUAI), founded in 2023 and headquartered in Midland, Texas, is a developer of vertically integrated digital infrastructure and behind-the-meter power assets primarily serving hyperscale AI and high-performance computing customers. The company's flagship project, Texas Critical Data Centers (TCDC), is a master-planned 1.4 GW liquid-cooled AI/HPC campus on 492 acres in Ector County, Texas (Permian Basin), powered by on-site natural-gas-fired generation integrated with carbon capture capable of removing up to 250,000 metric tons of CO2 annually. It has also optioned 3,500 acres in Lea County, New Mexico for a planned 7 GW AI data center hub. Legacy operations include a 137,000-acre Pecos Slope Field helium and natural gas position in Southeast New Mexico with 1.5-2.5 BCF of helium reserves, supported by long-term take-or-pay offtake agreements with AirLife Gases USA and a Tier 1 international industrial gas supplier, plus crude helium purchases via the BLM Crude Helium Pipeline and a tolling agreement with Keyes Helium Company.

The business model combines planned recurring lease revenue from hyperscale tenants at TCDC with legacy E&P revenue from helium, natural gas (477,000 MCF/month) and NGLs (32,545 bbls/month) at Pecos Slope. Pricing is negotiated enterprise-style for hyperscale leases (not publicly disclosed), while helium offtake pricing is described as consistent with recent industry transactions and potentially exceeding $600/Mcf amid helium shortages. The company executed approximately $430 million of combined financing in April 2026 (a $115M public equity offering at $3.35/share, a $290M Macquarie senior secured term loan, and a $5M Macquarie equity investment) and is pursuing a definitive lease with an investment-grade hyperscaler for 250 MW plus a 250 MW LOI signed earlier.

The company became public in December 2024 via a SPAC business combination with Roth CH Acquisition V Co. at a $90M pre-money valuation, rebranded from New Era Helium to New Era Energy & Digital in August 2025, and was expected to be added to the Russell 3000 and Russell Microcap Indexes in June 2026. It faces a securities class action filed in the Western District of Texas, a New Mexico Attorney General lawsuit against the company and CEO E. Will Gray II (pending $1M settlement subject to bankruptcy court approval), and FY2025 operating losses of $17.5M-$29.6M with a going-concern statement and a 0.1 current ratio as of Q1 2026.

Name

New Era Energy & Digital

Legal name

New Era Energy & Digital, Inc.

Website

https://newerainfra.ai

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

New Era Energy & Digital (Nasdaq: NUAI) develops vertically integrated AI data center campuses with behind-the-meter natural-gas-fired power and carbon capture in the Permian Basin, targeting hyperscale, enterprise, and edge operators for AI and HPC workloads.

Ownership category

akta.pro rank

Product category

Hyperscale Data Center Infrastructure

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111), Fossil Fuel Electric Power Generation (221112), Electric Power Transmission, Control, and Distribution (22112), Natural Gas Distribution (221210)

SIC

Cogeneration Services & Small Power Producers (4991), Electric Services (4911), Electric, Gas & Sanitary Services (4900), Natural Gas Transmisison & Distribution (4923), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Renewable Integration & Energy Efficiency (PUE Optimization, Heat Reuse) (HDABAKAL)

akta.pro secondary industries

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI), Gas-Fired Combined-Cycle with Carbon Capture (CCGT+CCS/CCUS) (EUACABAE), Natural Gas Risk Management, Analytics & Back-Office (ETRM/CTRM) (EUAGAGAJ)

Keywords

• Data center development
• Hyperscale infrastructure
• Behind-the-meter power
• Helium exploration
• Natural gas production

Headquarters

HQ city

Midland

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Data center leases (planned): Long-term lease revenue from hyperscale tenants at TCDC once initial phases become operational; expects to generate ongoing revenue through distributions tied to operating cash flow once initial phases become operational (currently pre-revenue from data centers).
2. Long-term helium offtake agreements (legacy): Take-or-pay agreements for 100% of Pecos Slope helium production (50% to AirLife Gases USA as bulk liquid; 50% to a Tier 1 international gas supplier as gaseous helium); combined expected revenue in excess of $118 million over life of agreements.
3. Crude helium purchases & tolling (legacy): Purchases 400–700 Mscf/month of crude helium from Badger Midstream Energy via BLM Crude Helium Pipeline; purifies and liquefies through Tolling Agreement with Keyes Helium Company for delivery to customers.
4. Natural gas and NGL sales (legacy): Sales of methane (477,000 MCF/month) and natural gas liquids (32,545 bbls/month) once Pecos Slope Plant is operational; legacy E&P revenue stream that management continues to evaluate for potential monetization or exit.
5. Methane Performance Certificates (planned): Planned revenue stream from sale of Methane Performance Certificates (MPCs) generated by reducing methane emissions from gathering infrastructure modernization, likened to carbon credits.
6. Legacy oil and gas operations revenue: 2025 net revenue of $0.885 million from legacy oil and gas operations; net loss of $17.5 million in 2025.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

New Era Energy & Digital is a developer and operator of next-generation digital infrastructure and integrated power assets, providing turnkey powered land and powered shell solutions to hyperscale, enterprise, and edge data center operators. Its flagship Texas Critical Data Centers (TCDC) campus in Ector County, Texas integrates on-site natural gas-fired behind-the-meter power generation, carbon capture, and liquid-cooled AI/HPC compute infrastructure. The company also retains legacy helium exploration and natural gas production operations in Southeast New Mexico via the Pecos Slope Plant.

Product overview

No product/service information was available in the provided source data.

Differentiator

Problem solved

Functional benefit

Brands

• Texas Critical Data Centers (TCDC): Flagship AI and high-performance computing data center campus under development in Ector County, Texas (Permian Basin), planned to scale to 1.4 gigawatts.

Products and services

• Texas Critical Data Centers (TCDC) Campus A scalable AI and high-performance computing (HPC) data center campus under development in Ector County, Texas, designed to deliver 1+ GW of liquid-cooled, high-efficiency compute infrastructure with integrated on-site natural gas-fired behind-the-meter power generation and carbon capture. Targeted at hyperscale, enterprise, and edge data center operators.
• Powered Land and Powered Shells Turnkey powered land and powered shell offerings aggregating development-ready parcels with secured power, fiber, gas, water, permits, wastewater disposal, and electrical equipment. Delivered as accelerated-deployment solutions to hyperscale, enterprise, and edge data center operators seeking fast time-to-power.
• Pecos Slope Plant Helium and Natural Gas Production A 20,000 MCF/D natural gas and helium processing plant in Southeast New Mexico, with over 137,000 acres of leasehold, producing crude helium (sold to AirLife Gases USA and a Tier 1 international gas supplier under take-or-pay agreements) and natural gas/NGLs. Targets industrial gas customers serving semiconductor manufacturing, aerospace, medical imaging, and scientific research.

Quantifiable outcome

• Up to 250,000 metric tons of CO2 removed annually via integrated carbon capture at TCDC
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

16 partnerships are on record, tiered flagship, core and minor.

• Stream Data CentersflagshipStrategic or Co-development Partner · 1 April 2026Non-binding LOI to form a joint venture with Stream Data Centers (and an unnamed institutional investor) for the development and financing of the TCDC data center campus in West Texas. Project aims to support large-scale AI/HPC workloads with phased capacity expansion up to over 1 GW.
• Thunderhead Energy SolutionscoreStrategic or Co-development Partner · 27 February 2026Strategic power partner that entered into a commercial arrangement with Turbine-X Energy to secure access to generation equipment for TCDC. Powers 450 MW behind-the-meter generation to support hyperscale anchor tenant's AI/HPC workloads without direct capex from New Era.
• Turbine-X Energy Inc.coreTechnology or Integration · 27 February 2026Generation equipment supplier via Thunderhead Energy commercial arrangement to secure major generation equipment for TCDC; powers 450 MW behind-the-meter generation project aligned with Trump Administration Ratepayer Protection Pledge.
• Primary Digital InfrastructurecoreStrategic or Co-development Partner · 23 January 2026Partnership to co-develop up to 1+ gigawatt hyperscale data center campus in Texas using a co-located natural gas power generation model bypassing constrained public grids. Expected to sign definitive lease agreement by end of Q1 2026.
• Sharon AI Holdings Inc.flagshipStrategic or Co-development Partner · 19 January 2026Former 50/50 joint venture partner for Texas Critical Data Centers LLC (TCDC). New Era acquired remaining 50% for $70M ($50M senior secured convertible note + $10M cash + $10M equity), which has been fully repaid/converted as of April 2026.
• EYP Mission Critical FacilitiescoreImplementation/ SI/ Consulting Partner · 30 October 2025Selected by Texas Critical Data Centers for full-scope engineering of 438-acre AI campus in Odessa, Texas.
• TCDC fiber network partner (MOU)coreTechnology or Integration · 17 September 2025TCDC signed MOU for 1,600-mile high-capacity fiber network across Texas to support data center connectivity.
• Mawgan CapitalminorStrategic or Co-development Partner · 10 September 2025Signed LOI with TCDC to deliver proprietary power supply for AI data center campus in Ector County.
• PowerForward Energy Solutions (PFES)coreStrategic or Co-development Partner · 23 April 2025Non-binding MOU with TCDC joint venture to manufacture, install, and operate 250 MW of generation assets at TCDC site. First 100 MW targeted within 12 months of funding; full deployment within 18 months. PFES is a JV between Progen Industries and MBS Engineering.
• GROW OdessacoreOthers · 27 February 2025Economic development corporation formed in 1966. Signed LOI with TCDC joint venture for acquisition of an additional 203 acres and initial 235-acre site in Ector County, Texas, supporting behind-the-meter data center campus with intended net-zero pathway.
• Roth CH Acquisition V Co. (ROCL)flagshipStrategic or Co-development Partner · 4 January 2024SPAC merger partner; business combination at $90M pre-money valuation closed December 2024, resulting in New Era Helium listing on Nasdaq under ticker 'NEHC' (later rebranded to NUAI as New Era Energy & Digital).
• Keyes Helium Company, LLC (KHC)minorStrategic or Co-development Partner · 9 November 2023Long-term Helium Tolling Agreement to purify and liquefy high purity crude helium delivered to KHC's helium liquefaction plant in Keyes, Oklahoma, filling 11,000-gallon helium containers for delivery to NEH's customers.
• Badger Midstream Energy, LP (BME)minorStrategic or Co-development Partner · 9 November 2023Contract For Sale and Purchase of Crude Helium; NEH purchases 400–700 Mscf/month of crude helium via BLM Crude Helium Pipeline and Storage System commencing January 1, 2024.
• AirLife Gases USA, Inc.coreChannel Partner/ Reseller/ Distributor · 27 September 2023Long-term take-or-pay agreement for 50% of Pecos Slope Plant's helium output as bulk liquid helium. Wholly-owned U.S. subsidiary of AirLife Gases Private Limited (Pune, India).
• Arjae Design SolutionsminorImplementation/ SI/ Consulting Partner · 19 July 2023Engineering and construction partner for the Pecos Slope Plant, a 20,000 MCF/D natural gas and helium processing plant in New Mexico.
• Continental Stock and TrustminorOthersTransfer agent for the company; located at 1 State Street, 30th Floor, New York, NY 10004-1561.

Scale indicators15 records

Recent moves9 records

Expansion highlights7 records

Emerging players

• Compute North: Earlier-stage behind-the-meter and AI-focused data center operator; intersects New Era's model but with a smaller scale and primarily legacy crypto-mining footprint.
• Desert Mountain Energy: Small-cap helium exploration and production company with Southwest U.S. acreage; partial overlap with New Era's legacy Pecos Slope helium reserves business.

Direct peers

• EdgeConneX: Global hyperscale and edge data center developer where New Era CDO Evan Pierce previously served as VP of Data Center Site Development; directly comparable in building powered-land campuses for hyperscaler tenants.
• Vantage Data Centers: Hyperscale data center platform operating multi-gigawatt campuses across North America, EMEA and APAC; comparable in serving the same hyperscaler customer base that New Era targets with TCDC.
• Crusoe Energy: Crusoe builds behind-the-meter, natural gas-powered data centers originally for crypto mining and increasingly for AI/HPC workloads, closely mirroring New Era's core Powered Land + Behind-the-Meter Generation model.
• Standard Power: Behind-the-meter natural gas-powered data center developer for hyperscalers and AI workloads using flare gas and pipeline-quality supply, directly aligned with New Era's behind-the-meter thesis at TCDC.

Broad incumbents

• Talen Energy: Independent power producer with the landmark Susquehanna nuclear-AWS co-location deal, illustrating the broader thesis of dedicated generation assets supplying hyperscaler compute demand.
• Switch (Equinix): Large multi-tenant data center operator (now part of Equinix) where New Era General Counsel Michael Johnson previously served as Associate General Counsel for data center development; comparable hyperscale customer base.
• Air Products and Chemicals: Global industrial gases major and competitor to AirLife Gases USA's parent (AirLife Gases Private Limited); directly relevant to New Era's legacy helium offtake business and broader industrial gas supply dynamics.

Others

• CoreWeave: GPU cloud and AI infrastructure provider (where New Era GC Michael Johnson previously served as Senior Counsel); serves the same hyperscale/AI customer base but as a compute provider rather than a powered-land developer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NewEraHelium
• LinkedInlinkedin.com/company/new-era-helium

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Era Energy & Digital