Crusoe Energy Systems Closing $505M Funding Round

crusoe

Funding of $505M was raised by Crusoe Energy Systems, a Denver-based climate computing technology company.

It also includes:

  • G2 Venture Partners led the $350m Series C equity offer. Participants included Lowercarbon Capital Capital, Polychain Capital Capital Ventures and Founders Fund. Founders Fund, MCJ Collective. Winklevoss Capital Capital, Zigg Capital Ventures. DRW Venture Capital. Atreides Management. Exor Seeds. CMT Digital. Upper90, as well as new investors Inclusive Capital Partners. 1, Tao Capital, Felicis Ventures, Castle Island Ventures, Mitsui & Co., and Robert Downey Jr.’s FootPrint Coalition Ventures, among others, and
  • Credit facilities available for up to $155m for SVB Capital, Sparkfund, and Generate Capital

Following the financing, G2VP joins Crusoe’s Board of Directors alongside Valor Equity Partners, Bain Capital Ventures, KCK Group, and co-founders Chase Lochmiller and Cully Cavness.

Led by CEO Chase Lochmiller, Crusoe provides a clean computing infrastructure platform that aims to reduce both the costs and the environmental impact of the world’s expanding digital economy. Crusoe is creating a future in compute-intensive innovation by surfacing stranded resources of energy to power cloud, crypto and data centres.

This financing comes after CrusoeCloud’s alpha launchThe cloud computing platform for HPC workloads that require high energy consumption, such as, is called CrusoeCloud. CrusoeCloudThe company aims at offering the lowest-cost and cleanest GPU cloud computing solution worldwide for workloads such as graphical rendering and artificial intelligence research. Nvidia’s a100 and 40 virtual machine instances are available in the alpha product at market-leading rates. CrusoeCloud is scheduled to launch publicly later this year. CrusoeCloud scales alongside Crusoe’s existing digital currency mining business, environmental benefits also scale through greater volumes of flare mitigation and renewable power generation.

The company intends to use the funds for development efforts to expand methane-eliminating Digital Flare Mitigation® data centers and launch CrusoeCloudThe low-cost, an emissions-reducing platform for high-performance computing.

 

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