Crusoe Energy Systems secures Series D funding to scale clean energy data centres, aiming to revolutionise AI workloads with sustainable solutions and garnering support from major industry players like Nvidia.
Crusoe Energy Systems, a pioneering clean energy and AI infrastructure company has secured a massive $600M in Series D funding, propelling its valuation to $2.8B. The latest investment round, led by Peter Thiel’s Founders Fund with support from Nvidia, Fidelity, Long Journey Ventures, Mubadala, Ribbit Capital, and Valor Equity Partners, sets the stage for Crusoe to transform artificial intelligence (AI) workloads through its innovative data centre approach.
Founded in 2018, Crusoe originally turned waste energy from natural gas flaring into power for small, containerised data centres. After focusing its resources on Bitcoin mining in its early years, the company has pivoted to developing AI-focused data centres powered by clean energy. With the new funding, Crusoe aims to address the rising energy demand for generative AI and machine learning by offering scalable and sustainable clean energy data centres.
A breakthrough in clean energy data centres
Crusoe’s AI-focused clean energy data centres offer a solution to the growing energy demands of AI models without compromising environmental goals. By making use of stranded and waste energy from natural gas, Crusoe’s infrastructure significantly reduces flaring—a major source of methane emissions—while powering some of the world’s most advanced computational workloads.
“We’ve designed this data centre to enable the largest clusters of GPUs in the world that will drive breakthroughs in AI,” said Chase Lochmiller, Crusoe’s co-founder and CEO, referencing the recently launched 998,000-square-foot Abilene, Texas, facility. This clean energy data centre, a $3.4B joint venture with Blue Owl Capital Inc. and Primary Digital, boasts the capacity to house up to 100,000 GPUs and aims to deliver over 1.2 gigawatts of power—enough to meet the energy needs of approximately 700,000 homes.
By building this facility and others, Crusoe is poised to revolutionise how data-heavy AI workloads are powered. Its reliance on clean energy sources allows it to offer cost-effective AI computing at scale, while also aligning with global sustainability efforts.
Nvidia and others back Crusoe’s clean energy data centres.
The latest funding round has not only increased Crusoe’s valuation but has also validated its vision of combining energy efficiency with technological advancement. Industry heavyweights like Nvidia have thrown their weight behind the project, reflecting the growing demand for eco-conscious AI infrastructure.
Crusoe’s strong partnerships with firms like Deloitte, Rescale Inc., and Vast Data further emphasise its role in reshaping AI development. By integrating cutting-edge hardware and software solutions, Crusoe has positioned itself as a key player in AI model training and deployment.
The company’s newly announced Crusoe Cloud—a high-performance cloud platform designed for AI and machine learning workloads—makes its computing power available globally. This platform provides developers and AI researchers with the tools to train and optimise models more effectively. With this expansion, Crusoe is catering to industries that increasingly rely on advanced computing power, from autonomous vehicles to healthcare.
Scaling up for a clean energy future
With operations spanning nine U.S. states and three countries, including Iceland, Crusoe is expanding rapidly to meet global demand. The company has more than 15 gigawatts of clean energy projects in development, aimed at further mitigating methane emissions while supporting high-performance computing.
As the AI sector grows exponentially, the environmental implications of training complex models have raised questions about sustainability. Crusoe’s model offers a clear solution, demonstrating how technology can thrive without exhausting natural resources. By converting waste energy into a productive force, Crusoe ensures that AI innovation doesn’t come at the cost of environmental degradation.
What’s next for Crusoe?
Crusoe’s latest funding and partnerships position it as a leader in the intersection of clean energy and AI infrastructure. With plans to construct more data centres globally and increase access to low-cost, sustainable energy sources, the company’s mission to combine innovation with environmental stewardship continues to resonate with investors and industry leaders.
As Crusoe continues tackling two of the biggest challenges of our time—reducing harmful emissions and powering the next wave of innovation, with $600M in fresh funding and an ambitious vision, Crusoe is lighting the way forward for sustainable AI infrastructure.
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