New Era Energy & Digital, Inc. (NASDAQ: NUAI) filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and confirmed that construction permits for its flagship Texas Critical Data Centers LLC (TCDC) are now in hand. The filing marks a significant operational milestone for the developer of next-generation digital infrastructure and integrated power assets.

Management will host a business update conference call and webcast on Monday, August 17, 2026, at 5:00 p.m. Eastern Time to discuss the results and recent progress. A replay will be available shortly after the event on the company’s investor relations website.

Construction and Permitting Progress

The company has received Development Structure and Drive Approach Permits from Ector County and submitted the Phase 1 plat to Ector County and the City of Odessa. Additionally, New Era received approval of its Notice of Intent with the Texas Commission on Environmental Quality (TCEQ) to commence grading, with site grading expected to begin in the coming weeks.

Operational site preparation has also advanced. The company closed the previously announced 54-acre corridor acquisition, bringing the campus total to 493 acres with all land for the planned development secured. Legacy infrastructure was cleared by removing 22 abandoned pipelines across 12 rights-of-way. Only a final surface waiver from a single leasehold operator remains pending.

Power Capacity Expansion

A subsidiary of Thunderhead Energy Solutions, New Era’s Phase 2 power partner, submitted a standard air permit application to TCEQ. This application supports ~550MW of Phase 2 capacity at TCDC, an increase from the previously contemplated 450MW. The expansion reflects different generation equipment and more effective emissions controls, enabling more capacity within the same emissions ceiling.

Phases 1 and 2 together would represent approximately 757MW of gross capacity. Charlie Nelson, Chairman and Chief Executive Officer, stated that having construction permits in hand meaningfully reduces development risk at the site. He noted that holding the power purchase agreement for Phase 1 in New Era’s name would turn TCDC from a site with a power plan into powered land.

Financial Position and Commercialization

Second quarter reported results largely reflect the company’s legacy helium and natural gas assets, which management continues to evaluate for potential monetization or exit. As of June 30, 2026, New Era held $84.8 million in cash, cash equivalents, and restricted cash. The company also has $270 million undrawn under its up to $290 million Macquarie facility. Management expects existing cash and the Macquarie facility to more than cover expected Phase 1 equity requirements.

Commercially, New Era is in advanced negotiations for a Phase 1 power purchase agreement in its own name. The company’s behind-the-meter power solutions align with Texas Governor Greg Abbott’s data center directive, designed to move forward unimpeded by ERCOT Batch 0 delays. Ongoing end tenant negotiations and joint venture discussions with Stream Data Centers continue.

Executive Team Updates

New Era expanded its executive team with several senior hires featuring hyperscaler and large-scale infrastructure experience:

• José Rodriguez as Chief Operating Officer
• Evan Pierce as Chief Development Officer
• Michael Johnson as General Counsel and Chief Compliance Officer
• Darin Rovell as Chief Accounting Officer

Conference Call Access Details

Participants can join the live discussion through two primary methods.

For further information regarding the company’s operations and investor inquiries, stakeholders may contact OG Advisory Group. Lincoln Tan serves as the point of contact for investor relations at nuai@orangegroupadvisors.com .

New Era Energy & Digital, Inc. (NASDAQ: NUAI) announced on Aug. 11, 2026, that it supports Texas Governor Greg Abbott’s directive to strengthen oversight of data center development in Texas. The move aligns the company’s operational strategy with the state’s push for greater transparency regarding power and water requirements, infrastructure costs, ownership, and community impacts. By endorsing the directive, New Era signals its intent to ensure large-scale digital infrastructure projects contribute to energy solutions rather than shifting incremental costs onto residents.

The directive reinforces the principle that hyperscale development must bring additional energy solutions to Texas. Charlie Nelson, Chairman and Chief Executive Officer of New Era, stated that the company is committed to working with the Governor, regulators, utilities, ERCOT, and the local community. "Texans must come first," Nelson said, emphasizing that responsible development involves paying their own way, protecting the grid and local water resources, and delivering lasting benefits such as jobs and a strong tax base.

New Era’s approach to its flagship project, Texas Critical Data Centers (TCDC), is built on three core pillars designed to minimize community impact and accelerate time-to-power.

The TCDC project is located on a 492-acre site in the Permian Basin. New Era anticipates scaling the site’s capacity to 1.4 GW over time. The company’s strategy combines large-acreage sites with flexible power solutions, utilizing a modular, phased deployment model. This approach aims to serve hyperscale, enterprise, and edge operators while maintaining best-in-class water efficiency and self-generated power.

What the Numbers Show

The scale of the TCDC project highlights the significant infrastructure demands of next-generation AI training and inference workloads. With an anticipated capacity of 1.4 GW on a 492-acre site, the project represents a substantial addition to the region’s energy load. However, by prioritizing behind-the-meter generation and closed-loop cooling, New Era aims to decouple this growth from strain on public utilities. This model suggests a shift toward self-sufficient data center operations, where developers bear the full cost of resource acquisition and grid integration, aligning with the Governor’s directive to prevent cost-shifting to taxpayers.