DENVER, CO., August 16, 2019/ Business Wire/ -- Crusoe Energy Systems, Inc., a technology-driven flare mitigation provider, is now operating five Digital Flare Mitigation (“DFM”) systems in North Dakota, Wyoming and Colorado, and has agreed to provide up to ten additional systems for deployments in Montana, Wyoming and North Dakota by the end of 2019. Across its existing projects, Crusoe has already eliminated more than 25 million cubic feet of natural gas flaring, significantly reducing air emissions for local communities as well as operational and regulatory challenges faced by oil and gas companies.
With little to no available capacity in pipelines and low natural gas prices, particularly in the Permian Basin where gas often is traded for below zero, operators are either choosing to or have no choice but to flare off greater amounts of associated gas. According to The World Bank, gas flaring rose about 48% in the U.S. from 2017 to 2018. In 2018 global gas flaring amounted to 145 Bcm (5 Tcf), equivalent to the total annual gas consumption of Central and South America, The World Bank reported.
Meanwhile, Denver’s Crusoe Energy Systems is looking to put the associated gas that would otherwise be flared to good use. The company has created its Digital Flare Mitigation (DFM) service that converts natural gas into electricity, which subsequently powers containerized data center units…
The Crusoe team looks forward speaking at the North American Gas Forum (NAGF) organized by Energy Dialogues in Washington D.C. on October 21st, 2019.
Denver-based Crusoe Energy has found a home in the North American shale industry by converting flared gas to a power source for computer intensive datacenters.
Crusoe Energy Systems of Denver has developed the Digital Flare Mitigation system, which uses natural gas that would be flared to power computer server farms.
The Winklevoss twins and a Dallas-based private equity firm are putting their money behind one way to shrink a glut of natural gas from U.S. shale basins: Burn it to produce on-site electricity.
Company helps oil and gas companies mitigate natural gas flaring and reduce harmful emissions while harnessing the gas to power compute intensive datacenters
DENVER--(BUSINESS WIRE)--Crusoe Energy Systems, Inc., a technology driven flare mitigation provider, today announced it has successfully completed a $4.5 million seed financing round led by Bain Capital Ventures and Founders Fund Pathfinder, with additional participation from Wicklow Capital, Winklevoss Capital and Dragonfly Capital Partners. This investment brings Crusoe’s total funding to $5.1 million. Funding proceeds will be used to accelerate production of Crusoe’s mobile modular data centers to provide large-scale flare mitigation service for oil and gas operators across North America.