New Era Energy & Digital Inc (NASDAQ: NUAI) is an energy and digital infrastructure company that is developing a large-scale data center and power campus while also holding oil, natural gas, and helium production assets. The company's near-term revenue has historically come from oil, natural gas, and product sales, with its flagship data center development project targeting rent payments from tenants as the intended future revenue stream. NUAI was incorporated in Delaware on November 5, 2020 as a special purpose acquisition company under the name Roth CH Acquisition V Co., completed its IPO with Nasdaq listing on December 1, 2021, and rebranded to New Era Energy & Digital Inc following a series of transactions culminating in 2025. The company recorded a net loss of $29,585,804 for the year ended December 31, 2025, and held a cash balance of $1,202,728 as of December 31, 2025. Total estimated capital expenditures to complete the flagship project could exceed $15 billion, with $50 million to $300 million expected in the twelve months following the FY2025 filing date. Management has disclosed going concern uncertainty as of the FY2025 filing.

Revenue model

Historically generated revenue through oil, natural gas, and helium production sales from the Pecos Slope ABO field. The intended future revenue model for the flagship data center campus is tenant rent payments, supplemented by tenant prepayments during development. The company also has a convertible note outstanding to SharonAI at 10% per annum interest, maturing June 30, 2026.

Products and services

Oil and natural gas production from proved reserves as of December 31, 2025, including helium content across the Pecos Slope ABO field. A flagship data center and power campus under development, targeting AI training and inference, high-performance computing, and public cloud tenants. Behind-the-meter and co-located power solutions are part of the planned campus offering.

Customers and end markets

End markets include AI compute, high-performance computing, and public cloud services for the data center development. Oil, natural gas, and helium sales serve industrial and energy commodity buyers. Helium customers are categorized as Tier 1 (Helium Majors) and Tier 2 (smaller industrial gas companies). No specific customer concentration percentages are disclosed in the filing excerpts.

Value-chain role

Upstream oil, natural gas, and helium producer on the existing asset base. Developer and planned owner-operator of a large-scale, power-focused data center campus with behind-the-meter energy generation. The company acts as landlord to data center tenants rather than operating compute infrastructure directly.

Geographic exposure

Pecos Slope ABO field oil, natural gas, and helium operations are located in the Permian Basin region. The data center flagship project location is not specified in the filing excerpts.

Source: SEC 10-K, filed 2026-03-12

Industry: Crude Petroleum & Natural Gas