PRIVATE · Denver, Colorado

Crusoe Energy Systems

Aligning the future of computing with the climate. Turning wasted energy and stranded renewables into ultra-dense AI compute.

Founded 2018

By Chase Lochmiller, Cully Cavness

Live Price

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Today

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Symbol

PRIVATE

2018

Digital flare mitigation: Harnessing wasted oilfield gas

Crusoe Energy was launched in 2018 with a radical environmental mission: capture stranded natural gas that oil producers would otherwise burn off ("flare") into the atmosphere, convert it into electricity on-site, and run modular crypto and HPC compute units inside shipping containers.

2023

Pivot to Crusoe Cloud and the AI compute boom

Realizing that AI model training required massive, clean power, Crusoe launched Crusoe Cloud. The company transitioned from mobile flare-mitigation units to large-scale, stationary data centers powered by flared gas, wind, solar, and geothermal power, positioning itself as the greenest AI compute provider in the market.

2025

The Lancaster mega-site and the $3.5B valuation

Crusoe closed a monumental Series D funding round in late 2025 led by Founders Fund and Upper90, driving its valuation to $3.5 billion. The company partnered with major energy producers in Texas, North Dakota, and Iceland to construct multi-hundred megawatt clean-energy data halls dedicated entirely to Nvidia GPU clusters.

2026

Powering the zero-carbon AI revolution

By August 2026, Crusoe operated over 400 MW of sustainable compute capacity. As power grid shortages became the primary bottleneck for AI expansion worldwide, Crusoe’s off-grid, energy-first architecture made it an essential infrastructure partner for ESG-conscious AI labs and fortune 500 enterprises.

The Numbers

market cap Private (~$3.5B Valuation)

revenue $410M (FY2025)

net income Profitable operating units (High energy margin offset)

employees 450

ipo year Private (Expected 2027 Pipeline)

ipo price Private

current ceo Chase Lochmiller

revenue forecast $820M (2026 internal target)

Who Owns Crusoe Energy Systems

Founders (Lochmiller & Cavness)

Executive team retain core voting equity

~21.0%

Founders Fund (Peter Thiel)

Lead venture capital investor

~16.5%

Bain Capital Ventures

Early stage growth partner

~12.0%

Upper90 & Energy Infra Funds

Debt and asset-backed infrastructure partners

~22.5%

Private Pool / Option Reserve

Allocated for executive talent and secondary investors

~28.0%

Frequently Asked Questions

Who founded Crusoe Energy Systems?

Crusoe Energy Systems was founded by Chase Lochmiller, Cully Cavness.

When was Crusoe Energy Systems founded?

Crusoe Energy Systems was founded in 2018.

Where was Crusoe Energy Systems founded?

Crusoe Energy Systems was headquartered in Denver, Colorado.

Why was Crusoe Energy Systems created?

What does Crusoe Energy Systems do?

Aligning the future of computing with the climate. Turning wasted energy and stranded renewables into ultra-dense AI compute. Crusoe Energy is the $3.5B green neocloud converting wasted energy into clean AI compute. Read the complete story of Crusoe Cloud, its flare mitigation tech, and zero-carbon GPUs.

How did Crusoe Energy Systems grow?

Who owns Crusoe Energy Systems?

Founders (Lochmiller & Cavness) owns ~21.0%. Founders Fund (Peter Thiel) owns ~16.5%. Bain Capital Ventures owns ~12.0%. Upper90 & Energy Infra Funds owns ~22.5%. Private Pool / Option Reserve owns ~28.0% (Executive team retain core voting equity)

How much of Crusoe Energy Systems does Founders (Lochmiller & Cavness) own?

Founders (Lochmiller & Cavness) owns ~21.0% (Executive team retain core voting equity)

When did Crusoe Energy Systems go public?

Crusoe Energy Systems had its IPO in Private (Expected 2027 Pipeline), with an initial share price of Private.

How many employees does Crusoe Energy Systems have?

Crusoe Energy Systems has approximately 450 employees.

What is Crusoe Energy Systems's revenue?

Crusoe Energy Systems generated $410M (FY2025) in revenue. Analysts forecast $820M (2026 internal target).

What is Crusoe Energy Systems's market cap?

Crusoe Energy Systems has a market capitalisation of Private (~$3.5B Valuation).

Who is the CEO of Crusoe Energy Systems?

The current CEO of Crusoe Energy Systems is Chase Lochmiller.

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