New Era Energy & Digital (NUAI) Q4 2025 earnings summary

Executive summary

• Transitioned from legacy helium to focus on large-scale, power-secured AI infrastructure, positioning as a midstream developer connecting energy supply to compute demand.

• Expanded executive team with experienced leaders, including new President/COO and CFO in early 2026.

• Flagship Texas Critical Data Center (TCDC) campus in Permian Basin progressing toward construction, with over 1 GW planned capacity and phased expansion; New Mexico campus in early planning, targeting over 7 GW capacity.

• Emphasizes repeatable, modular ATOM platform for rapid, scalable deployment and high energy efficiency, with strong execution partnerships.

Significant events and developments

• Acquired 100% control of TCDC by purchasing JV partner's stake, enabling full project control; $70 million acquisition from SharonAI closed in January 2026.

• Announced 450 MW behind-the-meter generation plan and strategic land acquisitions to support phased campus build-out.

• Initiated industrial district designation for TCDC, securing municipal water and wastewater access.

• Entered advanced commercial negotiations with a leading hyperscale tenant for TCDC.

Outlook and guidance

• Targeting commercial operation date (COD) for TCDC in Q3 2027, with phased power delivery starting at 200 MW; construction of Phase 1 expected to begin in Q2 2026.

• Focused on executing TCDC before expanding to additional campuses; New Mexico site in early engineering and feasibility phase, targeting 2 GW initial and 7+ GW total capacity.

• Near-term priorities include advancing site control, power development, customer engagement, and project-level financing partnerships.