New Era Helium & Sharon AI in LOI for 250MW net-zero energy data center

New Era Helium (NEHC) announces significant progress on its 50/50 joint venture JV with Sharon AI a High-Performance Computing business specializing in Artificial Intelligence, Cloud GPU Compute Infrastructure, and Cloud Storage. The two companies have executed a binding letter of intent LOI to develop and operate a 250MW net-zero energy data center in the Permian Basin, a significant increase from the originally announced 90MW facility . This expansion reflects heightened demand for power from potential off-takers and highlights the strategic importance of the planned data center in Texas. The project aligns with both companies’ commitment to leverage clean energy solutions and innovative technologies to address the growing needs of the Binding LOI Signed: Sharon AI and New Era Helium have formalized their commitment by signing a binding Letter of Intent (LOI) from a previously announced non-binding LOI. Increased Capacity: The proposed data center’s capacity has been significantly expanded to 250MW from 90MW following due diligence and discussions with prospective clients seeking access to additional electricity. Gas Supply Agreement: As part of the joint venture agreement, New Era Helium will enter into a gas supply agreement at a mutually agreed fixed cost for five years plus three options of five years each…The initial 250MW gas-fired power plant has the potential to significantly expand over time, with the JV partners working to identify project expansion opportunities, including with offtake partners, which may include hyperscalers and other large energy users.