Recent Updates — NUAI
New Era Energy & Digital’s subsidiary PowerCo entered into a Letter of Credit Reimbursement Agreement with Macquarie Bank Limited to secure obligations under a Power Purchase Agreement with Luminant. The bank issued a $116.0 million standby letter of credit in favor of Luminant, secured by cash collateral maintained at not less than 102% of the undrawn face amount. To fund part of the required collateral, PowerCo drew down $60.0 million from existing term loans and issued warrants to purchase 413,055 shares of common stock with an exercise price of approximately $7.26 to the lender. Additionally, the company announced it is pursuing direct leases with hyperscale tenants for its Texas Critical Data Center project rather than forming a joint venture. The company operates in the energy and digital infrastructure sector.
New Era Energy & Digital, Inc. entered into an At-The-Market Issuance Sales Agreement on September 24, 2026, establishing a program to sell up to $100 million of its common stock through agents including Mizuho Securities USA LLC and B. Riley Securities Inc. The company will pay agents a commission of up to 3.5% of gross proceeds and intends to use net proceeds for general corporate purposes, such as capital expenditures or refinancing indebtedness. Concurrently, the filing disclosed that Texas Governor Greg Abbott ordered a halt on data center permits pending an ERCOT grid audit, potentially delaying project timelines. The company is developing AI infrastructure and data centers.
New Era Energy & Digital, Inc. announced that its subsidiary TCDC PowerCo LLC entered into a 20-year power purchase agreement with Luminant ET Services Company LLC to supply between 200 and 207 megawatts of electricity for the Texas Critical Data Center project in Odessa, Texas. The agreement requires New Era to post $116 million in letters of credit and up to $82.8 million in additional security. Concurrently, a development framework agreement grants Vistra a right of first refusal on future onsite generation opportunities starting April 2028 and a five-year right of first offer for power projects elsewhere. Upon power delivery, Vistra will receive a 5% non-voting equity interest in the relevant project portion. Power is expected to commence in Q3 2027. New Era Energy & Digital, Inc. develops large-scale data centers across energy-rich U.S. markets.
New Era Energy & Digital, Inc. entered into a Waiver and Consent Letter with Macquarie Equipment Capital Inc. to waive certain requirements under its existing Term Loan Agreement. The agreement extends the deadline for the company to establish an "at-the-market" offering program with an aggregate offering price of at least $100 million. New Era Energy & Digital, Inc. operates in the energy and digital infrastructure sector through its subsidiary, Texas Critical Data Centers LLC.
New Era Energy & Digital, Inc. announced several executive leadership changes effective July 1, 2026. Charles Nelson was appointed Chairman of the Board and Chief Executive Officer, transitioning from his previous role as President and COO. Ted Warner was appointed President and will continue as Chief Financial Officer, while also joining the Board of Directors. José Rodriguez, formerly Vice President of Data Center Engineering and Operations, was named Chief Operating Officer with an annual base salary of $485,000. Additionally, E. Will Gray II resigned from the Board and transitioned from CEO to President of the Permian Basin. The company operates in the energy and digital infrastructure sector.