Unblock, an energy infrastructure company that converts stranded energy into computing power, announced it has secured $13.5 million in funding led by Goldcrest Capital and Collaborative Fund. This round also includes investments from Pampa Energía, Grupo Sielecki, FJ Labs, NYDIG, Luxor Technology, Sunna Ventures, and several Latin American entrepreneurs.
The company deploys modular data centers at remote energy sites, capturing flared gas and curtailed renewable energy, which eliminates 142,000 tons of carbon dioxide emissions annually. Faced with a growing flaring problem, Unblock operates the world’s second-largest computing fleet at oil fields, with plans to double its capacity by September.
How the funding will be used: The funding will support aggressive hiring for engineering and field operations, as well as local data center production to accelerate growth across Latin America.
KEY QUOTES:
“We are building at the crossroads of AI’s explosive energy demand and Latin America’s vast bottlenecked energy resources. Latin America’s infrastructure constraints create the perfect breeding ground for flexible computing. We envision an elastic computing network that flexibilizes midstream infrastructure while also smoothing volatility in the power grid.”
Tomas Ocampo, CEO and founder
“At Collaborative Fund, we back companies that make the world better while delivering strong financial returns. Unblock’s approach represents exactly that. Tomas’ and the team’s vision along with their impeccable execution convinced us to partner.”
Craig Wilson, Partner at Collaborative Fund
“We were super excited to partner with Unblock. The combination of already de-risked technology with strong local execution makes them uniquely positioned to capture Latin America’s massive stranded energy opportunity. Their growth from 0 to 15MW in just over a year speaks volumes about their ability to execute.”
Dan Friedland, Managing Partner at Goldcrest Capital
