New Era Energy to Acquire SharonAI's 50 Percent Share in Texas Critical Data Centers

New Era Energy & Digital has signed a binding agreement to acquire Sharon AI’s 50 percent stake in Texas Critical Data Centers (TCDC), a joint venture between the two companies, which is developing an AI data center in Ector County, Texas.

New Era Energy & Digital will pay SharonAI an aggregate consideration of $70 million for the interests of the company. Of this, $10 million will be payable in cash, with $150,000 as a non-refundable deposit due within 14 days of December 19, 2025, and $9.85 million payable upon the occurrence of certain events, no later than March 31, 2026.

A further $10 million will be payable in common stock, due no later than March 31, and the remaining $50 million will be issued as a senior secured convertible promissory note, granting SharonAI the right to convert 20 percent of the amount owed into common stock of New Era Energy & Digital, with maturity due on June 30, 2026.

The term sheet will obligate the two companies to negotiate and execute, in good faith, customary definitive agreements that incorporate the terms of the term sheet and include other customary terms and conditions. In addition, Sharon will have to reimburse the costs of the land funding portion, expected to cost approximately $2.5 million, on or before January 9, 2026.