New Era Secures 250MW Power Deal; No Progress on Helium
- AKAP
- Jun 4
- 3 min read
New Era Helium’s JV, Texas Critical Data Centers (TCDC), signed a non-binding MOU with PowerForward Energy Solutions to provide 250MW of on-site generation capacity for its planned AI and HPC data centre in Ector County, Texas. However, there have been no developments in New Era's helium asset, Pecos Slope, in New Mexico where the company sits on 1.5bcf of 2P helium reserves. Since its IPO, the company's share price has dropped by around 95% and is down 88% YTD. Furthermore, New Era's board member Phil Kornbluth and Stan Borowiec stepped down because the company "broadened its strategy to include natural gas and digital infrastructure in addition to its core helium business". We believe this may be an indication that New Era does not want to pursue its helium asset and might pivot away from its core helium business.