A Denver-based energy and technology company is expanding its operations in the state, and that could spur some business for oil and gas extraction operations on the Western Slope.
The company, Crusoe Energy, has created a cost-effective way to capture flaring and environmentally harmful emissions from oil and gas operations, and put them to good use.
It uses its technology to convert those byproduct emissions into electricity to power modular, mobile computer data centers deployed directly on a well site.
Those data centers are contracted to the company’s clients for such things as research and development, artificial intelligence computers and blockchain and cryptocurrency platforms.
The technology also helps oil and gas companies lower emissions to meet state and federal air quality mandates.
Currently, the company has several flare-mitigation projects in Wyoming, Colorado and North Dakota.
Started in 2018, the company employs 58 people, 40 of whom are located in Colorado.
The expansion is to add 286 new, high-paying jobs in the state.
“Companies like Crusoe Energy represent the forward-thinking environmental innovation that will help Colorado achieve our ambitious energy transition and economic goals,” Gov. Jared Polis said in announcing the expansion. “These 280 high-quality jobs are a great example of the opportunities available when we unlock the power of clean energy technologies.”
The company chose Colorado over bids in Nebraska, Montana and North Dakota.
It chose the state after being offered a State Job Growth Incentive Tax Credit from the Colorado Office of Economic Development and International Trade.
The company also received support from the Denver Economic Development and Opportunity Office and the Metro Denver Economic Development Corp.
“Colorado is an excellent place to build a company, particularly one that draws on talent pools from the energy and technology industries,” said Cully Cavness, president and co-founder of Crusoe. “Colorado’s talented workforce and continued support of environmentally oriented energy innovators were important factors in our decision to double down in Denver.”
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June 01, 2021 at 01:15PM
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Company that converts gas emissions into data centers expands in state - The Grand Junction Daily Sentinel
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