Jericho Energy Ventures Ends SmartKem Deal to Focus on Data Center Infrastructure

On February 2, 2026, Jericho Energy Ventures Inc. announced that it has mutually terminated its non-binding letter of intent with SmartKem, Inc., previously set for an all-stock business combination. The decision was amicable, with no penalties involved, aligning with Jericho's focus on advancing its energy infrastructure for a new AI data center campus in Noble County, Oklahoma.

Jericho's efforts concentrate on creating a robust energy foundation, featuring access to dual 345 kV transmission lines and diverse natural gas sources. This strategic direction is vital for supporting mission-critical operations, especially amid recent extreme weather events that highlighted the importance of energy resilience and supply diversification.

The company is also planning to integrate geological subsurface storage into its broader energy strategy, aiming to protect against supply disruptions and demand spikes. Jericho's CEO, Brian Williamson, emphasized the company's commitment to delivering reliable and cost-effective energy solutions for data centers.