New Era Energy & Digital Acquires Full Ownership of Texas AI Data Center Project

New Era Energy & Digital Secures Full Control of Major Texas AI Data Center Campus

December 26, 2025

In a strategic consolidation of ownership, New Era Energy & Digital Inc. has agreed to acquire the remaining 50% stake in the Texas Critical Data Centers (TCDC) project from its joint venture partner, Sharon AI Inc. The move underscores the intensifying race to secure infrastructure capable of powering the next generation of artificial intelligence and high-performance computing workloads, which demand unprecedented levels of power and scale.

The transaction, valued at $70 million, grants New Era full operational control of the under-development power and AI data center campus in Ector County, Texas. New Era's CEO, E. Will Gray II, stated that the buyout was designed to minimize shareholder dilution while maximizing flexibility. "Full ownership allows us to align capital with development, accelerating the project's execution and creating stronger long-term value for New Era shareholders," Gray said. He emphasized that as the project transitions from planning to execution, a simplified ownership structure is the logical next step.

Concurrently, New Era announced the acquisition of an adjacent 203-acre land parcel, expanding the total development footprint to 438 acres. This significant land bank strengthens the project's potential to evolve into a large-scale, multi-phase campus with a power capacity exceeding 1 gigawatt to support AI and HPC operations. The company reported substantial progress over the past year in land assembly, engineering, power interconnection studies, and commercial engagement.

According to a project update published on December 11, New Era anticipates making a final investment decision by the first quarter of 2026, targeting the commencement of Phase 1 operations in 2027. For Sharon AI, the exit is expected to enable further investment in its core Neocloud operations, focusing on bringing high-performance compute to market at scale for its research and enterprise customers.

The financial terms include a $10 million upfront cash payment, which New Era plans to fund through loans or other non-equity financing. The remainder comprises a $10 million deferred equity issuance due by March 31, 2026, and a $50 million senior secured promissory note maturing June 30, 2026. New Era described the note's structure as "minimally dilutive," with only a limited equity conversion right attached to a portion of the debt.

This consolidation reflects a broader industry trend where developers seek unified control over massive, power-intensive data center projects to streamline decision-making and accelerate deployment in the fiercely competitive AI infrastructure market. Gaining full authority over the site's development timeline and capital allocation positions New Era to more aggressively capture demand from hyperscalers and AI firms seeking gigawatt-scale capacity.

Source: rigzone