Texas Pacific Land Corporation (TPL) announced a strategic agreement with Bolt Data & Energy to develop and enable large-scale data center campuses and supporting infrastructure across TPL land in West Texas.

Bolt is a data and energy infrastructure company co-founded by Eric Schmidt, former CEO and Chairman of Google, who also serves as Bolt’s Chairman.

As part of the agreement, Bolt raised $150 million of capital with $50 million invested by TPL. TPL will receive an equity interest, warrants, and a right of first refusal to supply water to Bolt-affiliated projects and related infrastructure. Bolt is currently pursuing commercial partnerships and anchor customers to develop large-scale data centers on TPL land.

Mr. Schmidt added: “Bolt is focused on shortening the time between demand and delivery of compute at scale. To be a reliable provider, Bolt will also focus on power production: natural gas-fueled, renewable, and ultimately, nuclear. TPL’s vast West Texas holdings and their expertise in land, energy, water, and regulatory execution makes them a uniquely capable partner.”

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