Crusoe Energy Systems, Inc., a technology driven flare mitigation provider announces $4.5 million seed financing round on May 3rd, 2019. The investments for the company come to a sum of $5.1 million dollars, proceeds go to the deployment and development of Crusoe’s mobile modular data centers to provide large-scale flare mitigation service for oil and gas operators in North America.
Oil and gas producers will be able to convert excess natural gas into electrical power at the well-site, eliminating the need for gas flaring and significantly reducing environmentally harmful emissions.
Co-Founder and CEO of Crusoe, Chase Lochmiller stated “We are committed to building advanced technologies for flare mitigation that are capable of handling the large-scale gas through puts required by today’s North American shale industry. Crusoe’s technology harnesses otherwise wasted energy for growing industries that require energy intensive computing, such as blockchain and artificial intelligence.”