In June 2022, Mubadala participated in a USD 350 million Series C funding round for US-based Crusoe Energy, which is pioneering clean computing infrastructure to reduce the costs and the environmental impact of the world’s expanding digital economy. In the Middle East, Crusoe is expanding its Digital Flare Mitigation® (“DFM”) technology to help reduce flaring in the region by providing oil and gas companies with a fast, low cost and simple solution.
The Series C funding round proceeds are being used to support Crusoe’s efforts to expand internationally, including in the Middle East, as it works to align the future of computing with the future of the climate and also to expand in both existing DFM and new business lines.
Crusoe’s nearly 110 DFM data centers prevented four billion cubic feet of flaring in 2022. Digital Flare Mitigation data centres have prevented an estimated 2.5 billion cubic feet of flaring and achieved up to 99.89 percent elimination of methane emissions, whereas flares typically emit a significant amount of un-combusted methane. Their deployed fleet of flare-eliminating data centres have the capacity to reduce CO2-equivalent emissions estimated at 600,000 metric tons per year, comparable to removing approximately 130,000 cars from the road for a year.
