New Era Helium Completes Business Combination, Set to Trade on Nasdaq
TL;DR
NEH has closed a business combination with Roth CH V Holdings, Inc. and Roth CH Acquisition V. Co., with NEH merged with Roth CH V Merger Sub Corp.
NEH merged with Roth CH V Merger Sub Corp, a wholly-owned subsidiary of Holdings, and Holdings has changed its name to New Era Helium.
NEH's Nasdaq listing will enhance visibility and attract U.S. investors interested in energy infrastructure and sustainable innovation, further underscoring the value of its assets and forward-looking projects.
NEH announced a non-binding joint venture with Sharon AI, Inc. to build a 90MW net-zero Tier 3 data center powered by sustainable energy and carbon capture technology.
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New Era Helium, Inc. (NEH) has successfully closed its business combination with Roth CH Acquisition V Co., marking a significant milestone in the company's growth strategy. The transaction, approved by stockholders on November 26, 2024, paves the way for NEH to begin trading on the Nasdaq under the symbols "NEHC" and "NEHCW" for its common stock and public warrants, respectively.
This development positions New Era Helium as a prominent player in the helium and natural gas production industry, with over 137,000 acres in Southeast New Mexico and 1.5 billion cubic feet of proved and probable helium reserves. The company's Nasdaq listing is expected to enhance its visibility and attract U.S. investors interested in energy infrastructure and sustainable innovation.
The timing of NEH's public listing is particularly significant given the projected surge in demand for helium, driven by the growth of data centers powering artificial intelligence. This aligns with the company's recent announcement of a non-binding joint venture with Sharon AI, Inc. to build a 90MW net-zero Tier 3 data center within the Permian Basin, combining Sharon AI's high-performance computing expertise with NEH's extensive helium and natural gas reserves.
The proposed data center project highlights NEH's commitment to sustainable energy solutions, with plans to offset approximately 250,000 metric tons of CO2 annually through carbon capture technology. This initiative demonstrates the company's potential to play a crucial role in both the helium supply chain and the development of environmentally conscious data infrastructure.
E. Will Gray II, Chairman and CEO of New Era Helium, emphasized the significance of the Nasdaq listing, stating it would enhance the company's public profile and broaden its reach to institutional investors in the AI datacenter and helium markets. This move could potentially accelerate NEH's growth and consolidation efforts in the helium production sector.
As the demand for helium continues to rise, particularly in high-tech industries and medical applications, New Era Helium's strategic positioning and newly acquired public status may provide the company with the resources and visibility needed to capitalize on market opportunities. The success of NEH could have broader implications for the helium supply chain, potentially influencing pricing and availability of this critical resource in various industries.
Curated from News Direct
