A climate computing technology business called Crusoe Energy Systems secured $505 million in investment.
Founders Fund, MCJ Collective, Winklevoss Capital, Zigg Capital, DRW Venture Capital, Atreides Management, Exor Seeds, CMT Digital, Upper90, and new investors Inclusive Capital Partners, Engine No. 1, Tao Capital, Felicis Ventures, Castle Island Ventures, Mitsui & Co. participated in a $350 million Series C equity offering led by G2 Venture Partners. Other participants included Valor Equity Partners, Lowercarbon Capital, Polychain Capital and
credit lines with SVB Capital, Sparkfund, and Generate Capital that can be expanded up to $155 million
Following the funding, G2VP will join Crusoe’s Board of Directors along with co-founders Chase Lochmiller and Cully Cavness, Bain Capital Ventures, KCK Group, and Valor Equity Partners.
Crusoe, an organisation run by CEO Chase Lochmiller, offers a platform for clean computing infrastructure with the goal of lowering the costs and environmental effects of the world’s growing digital economy. The company is building a future for compute-intensive innovation that decreases emissions rather than increases them by uncovering stranded sources of energy to power crypto, the cloud, and data centers.
The financing comes after CrusoeCloudTM, a cloud computing platform designed for energy-intensive HPC workloads, launched its alpha version. CrusoeCloudTM intends to provide the world’s cleanest and most affordable GPU cloud computing solution for workloads like as simulation, artificial intelligence research, machine learning, computational biology, and graphic rendering. Nvidia a100 and a40 virtual machine instances are available in the alpha release right now for market-beating costs. Later this year, CrusoeCloudTM is expected to make its public debut. Environmental advantages escalate as CrusoeCloudTM grows alongside Crusoe’s current cryptocurrency mining operation thanks to increased flare mitigation and renewable energy production.
The money will be used by the business to expand its methane-free Digital Flare Mitigation® data centres and introduce CrusoeCloudTM, a high performance computing platform that is inexpensive and emissions-free.