GridAI Technologies has agreed to buy Wyoming natural gas producer Pronghorn Resources in an all-stock deal. It plans to build gas-fired power plants for AI data centres, aiming for 300 MW in 2027, but has no named customers yet.
GridAI Technologies has agreed to buy Pronghorn Resources, a natural gas producer in Wyoming, to power AI data centres, the company announced on Thursday. It aims to deliver its first 300 MW of power in 2027.
Pronghorn produces nearly 100 million cubic feet of gas a day from about 3,200 wells in the Powder River Basin. It also owns more than 450 miles of pipelines and has rights to nearly 1 million acres of land and minerals.
GridAI plans to build gas-fired power plants that feed data centres directly, so customers do not have to wait years for a grid connection . It says Pronghorn’s current gas could fuel about 600 MW of power, but that is an estimate. The plants still need to be built and paid for.
The deal is paid in shares, not cash. Pronghorn’s owners will get about 1.25 million GridAI shares plus preferred stock, and the deal is expected to close by 22 November. GridAI, which trades on Nasdaq, was worth about $31M in October, according to StockAnalysis .
GridAI is also taking Wyoming rights to a planned small nuclear reactor design, though it says gas remains its focus for now. It has not named any customers. Last week, Crusoe gave up its Wyoming site to Google, reportedly after failing to find enough customers.
Wyoming is drawing AI investment as other places push back. Google plans a $17B data centre there that will run mainly on gas. Meanwhile, US voters rejected data centres in 40 of 41 local ballot measures this month, as AI fuels a gas-plant boom .
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