Limp Bizkit's Wes Borland, Nine Inch Nails' Danny Lohner, Telefon Tel Aviv keyboardist Josh Eustis and drummer Josh Freese formed the band Black Light Burns.
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The group's untitled first album is due out early next year on Geffen with a world tour after that, Billboard.com reported Monday.
Guitarist Borland is handling lead vocals for the project, which has put some samples up on its myspace.com Web site.
"Danny Lohner's house has been a hive of activity," the band wrote in a recent Web post. "Almost all the recording has been done here -- not once has the band needed to enter a real recording studio."
Freese most recently toured with Sting and has been squeezing in Black Light Burns recording sessions in between working on Sting's upcoming album in Italy, Billboard.com said.