NETD News & Events

Nabors Energy Transition II has elected to extend the date by which NETD has to consummate a business combination by one additional month from July 18 to August 18, 2025. The extension provides NETD with additional time to complete its initial business combination with e2Companies. In connection with the Extension, Nabors Lux, an affiliate of Nabors Energy Transition Sponsor II, has deposited $250K into NETD's trust account for its public shareholders, which enables NETD to effectuate the Extension. Nabors Lux loaned the Extension Payment to NETD through a non-interest-bearing loan. If NETD consummates an initial business combination, it will repay the loan out of the proceeds of the Trust Account or, at the option of the Sponsor, convert all or a portion of the loan into warrants for $1.00 per warrant. If NETD does not consummate an initial business combination, it will repay the loan only from funds held outside of the Trust Account.

E2Companies has signed a $500M to $1B term sheet with Corscale Data Centers to supply the data center developer with battery and energy management systems, the company tells Axios exclusively, reported Alan Neuhauser. In February, Nabors Industries (NBR) reported on the entry into a business combination agreement between the special purpose acquisition company Nabors formed in 2023, Nabors Energy Transition II (NETD), and e2Companies.

Nabors Industries (NBR) issued a statement regarding the entry into a business combination agreement between the special purpose acquisition company Nabors formed in 2023, Nabors Energy Transition II (NETD), and e2Companies. Power solutions supplying backup power, e2 provides a full solution including: Isolated grid power; the ability to run prime power or in sync with public utility with continuous power conditioning and uninterruptable supply; instantaneous load shifting between the grid and multi-source local power; AI-based cost optimization regulating power draws from the grid at peak pricing times; and the ability to supply the grid with power on demand, offering further cost optimization. Most importantly, e2's solutions can function behind-the-meter without requiring a grid connection interconnect agreement. This feature enables mission-critical industries - such as data centers, manufacturing, oil and gas, and healthcare - to benefit from reliable, on-site power generation and storage. Whether used as primary power or in sync with public utility, these solutions deliver significant cost savings and emissions reductions.