NEHC Secures MOU for AI Campus Power Generation
By ATTN Desk · Editorial oversight: Sean Han
New Era Helium Inc. (NASDAQ: NEHC)
Introduction
New Era Helium Inc. (“NEHC”) is a helium exploration and production company incorporated in 2023 and headquartered in Midland, Texas. The company operates approximately 137,000 acres in the Permian Basin of New Mexico, holding over 2 billion cubic feet (BCF) of proved and probable helium reserves. NEHC primarily supplies industrial helium for sectors including semiconductor manufacturing, aerospace, and high-performance computing.
Corporate Structure
- Employees: 2–10 (LinkedIn estimate)
- Leadership
- E. Will Gray II, Chief Executive Officer (co-founder)
- Joel Solis, Chairman of the Board
- Michael J. Rugen, Chief Financial Officer (appointed January 2024)
- Board Changes
- May 28, 2025: Phil Kornbluth and Stan Boroweic resigned as board members, effective the same date. Both have offered consulting support during the transition.
Recent Developments and News
- January 4, 2024
- Announced a definitive merger agreement with Roth CH Acquisition V Co. (NASDAQ: ROCL) at a $90 million pre-money valuation, establishing NEHC as a Nasdaq-listed company.
- May 29, 2025
- Filed a prospectus supplement (Rule 424(b)(3)) registering 50,839,403 common shares and 230,746 private warrants. As of May 28, 2025, common stock last traded at $0.67 per share and warrants at $0.0595 each.
- May 2025
- Texas Critical Data Centers (TCDC), a joint venture between NEHC and Sharon AI, signed a non-binding memorandum of understanding with PowerForward Energy Solutions to secure up to 250 MW of on-site generation for an AI and high-performance computing campus in Ector County, Texas. The agreement targets 100 MW within 12 months of funding and the full 250 MW within 18 months.
- June 2025
- Received approval from the Bureau of Land Management’s Pecos District Office for approximately 120 miles of Rights-of-Way. Construction of new gathering infrastructure in the Pecos Slope Field is set to commence in mid-June 2025, replacing a third-party system that experiences approximately 25% field loss.
Financial and Strategic Analysis
| Metric | Value (TTM or as of mid-2025) |
|---|---|
| Share Price (2025-06-12) | $1.02 (up 106.52% on the day) |
| Volume | 36,086,823 |
| Market Capitalization | $7.15 million |
| Enterprise Value | $12.80 million |
| Revenue (TTM) | $530,020 |
| Net Income (TTM) | –$16.24 million |
| Total Cash (most recent quarter) | $1.03 million |
| Price/Sales (TTM) | 13.00 |
| Enterprise Value/Revenue | 24.14 |
| Beta (5Y Monthly) | 0.19 |
- Production Facility: Construction of a processing plant in New Mexico is scheduled for completion in Q4 2025, intended to handle helium, natural gas, and natural gas liquids.
- Offtake Agreements: NEHC has secured long-term contracts with international helium buyers, ensuring committed demand.
- Revenue Diversification: Plans include generating revenue from Methane Performance Certificates (MPCs), responsibly sourced natural gas liquids (NGLs), and net-zero power initiatives.
- Joint Venture Expansion: The TCDC partnership leverages NEHC’s midstream capabilities to support AI infrastructure with distributed power solutions.
Market Position and Industry Context
- Helium Demand: Helium is critical for various applications including chip fabrication, aerospace, and scientific research. Global supply constraints have prompted interest in developing new helium sources.
- Target Market Share: NEHC aims to capture 1–2% of North American helium production.
- Competitive Landscape: The company competes with established exploration and production firms as well as pure-play helium producers, differentiating itself through integrated midstream assets and end-market partnerships.
- Sector Tailwinds: Growth in semiconductor capacity, aerospace exploration, and data-center power requirements are contributing to increased helium demand and midstream investment.
tl;dr
NEHC shares reached $1.02 on June 12, 2025, following heightened trading volume. In May 2025, the company filed for an equity offering of over 50 million shares and 230 thousand warrants, and two board members resigned effective May 28. Its joint venture TCDC signed an MOU for on-site generation of up to 250 MW for an AI campus, targeting 100 MW within 12 months of funding. Approval for 120 miles of gathering infrastructure was granted in June 2025, with construction scheduled to begin in mid-June. The processing plant is on track for Q4 2025 startup.