Thanks to a newly disclosed investment from the Oman Investment Authority, FootPrint Coalition's portfolio company Crusoe Energy is taking its emission-fighting services to the Middle East.
The company converts stranded gas -- gas that would otherwise be flared into the atmosphere -- and uses it to power data centers used for cryptocurrency mining and high intensity programming operations.
In the US the company wants to help process graphics and run data intensive software operations in addition to its crypto mining activities.
The company now said it will open an office in Muscat, to deploy power generators and mining equipment for capturing gas at well sites, according to a statement from Crusoe's chief executive, Chase Lochmiller.
"We've always felt it was important for us to have a presence in the MENA region," Lochmiller told Bloomberg News. Oil and gas operations in the Middle East and North Africa account for 38% of global flaring, which reduces methane, a highly potent greenhouse gas, into the atmosphere.
"Having the buy-in from nations that are actively trying to solve the falling issues is what we are looking for," Lochmiller said.
The company expects to launch its first pilot by the end of this year or early 2023.