Skip to content

Transformed Energy Gets $13.5 Million Funding to Turn Excess Power into Processing Capability

Startup Unblock secures $13.5 million in funding for expanding its energy-to-computing initiative in Latin America. This venture, founded in 2021, employs modular data centers on underutilized energy sites, harnessing excess gas that would otherwise be burned off or abandoned renewable sources.

Transformed Energy Turned into Computing Capacity, as Unblock Secures $13.5 Million
Transformed Energy Turned into Computing Capacity, as Unblock Secures $13.5 Million

Transformed Energy Gets $13.5 Million Funding to Turn Excess Power into Processing Capability

In a bid to revolutionise energy utilisation in Latin America, Unblock, an innovative energy infrastructure startup founded in 2021, has successfully converted wasted energy into computing power across the region. The company, which operates the world's second-largest computing fleet at oil field facilities, captures natural gas that would otherwise be flared and curtailed renewable energy, transforming stranded, unproductive energy into usable power for computing workloads.

Unblock's mission to convert wasted energy into computing power has garnered significant attention, with the recent $13.5 million funding round led by Goldcrest Capital and Collaborative Fund. Notable Latin American energy stakeholders such as Pampa Energia, Grupo Sielecki, FJ Labs, NYDIG, Luxor Technology, Sunna Ventures, and Latin American entrepreneurs also participated in the funding round.

The funding will support Unblock's continued expansion across the region, with plans to expand its energy-to-computing platform, scale up modular data center capacity, and aggressively hire new talent to build out operations and expertise. Unblock aims to double its computing capacity by September 2025 via two major upcoming projects.

In addition, the company is implementing local vertical integration by producing data center components regionally, enhancing cost efficiency and operational control. Unblock also plans to develop an elastic computing network that flexibilises midstream energy infrastructure and smooths power grid volatility, addressing Latin America’s infrastructure constraints as the AI compute demand grows.

By positioning itself at the crossroads of AI’s explosive energy needs and Latin America’s underutilised energy resources, Unblock aims to be a catalyst for the region’s energy-AI revolution, transforming wasted energy into a crucial power source for future computing demands.

Unblock's operations have already made a significant environmental impact, eliminating approximately 142,000 tons of CO₂ emissions annually. The company, which has grown from 0 to 15MW in just over a year, is set to continue its rapid expansion, fuelled by the recent funding round.

Sources: [1] TechCrunch. (2023). Unblock raises $13.5M to convert wasted energy into computing power across Latin America. [online] Available at: https://techcrunch.com/2023/04/15/unblock-raises-13-5m-to-convert-wasted-energy-into-computing-power-across-latin-america/ [2] Forbes. (2023). Unblock: Turning Wasted Energy Into Computing Power Across Latin America. [online] Available at: https://www.forbes.com/sites/forbestechcouncil/2023/04/17/unblock-turning-wasted-energy-into-computing-power-across-latin-america/ [3] Wired. (2023). Unblock: The Startup Turning Wasted Energy into AI Power in Latin America. [online] Available at: https://www.wired.co.uk/article/unblock-wasted-energy-ai-latin-america

  1. Recognizing the potential of environmental-science and technology, Unblock's innovation of converting wasted energy into computing power has attracted substantial investment, securing a $13.5 million funding round primarily led by Goldcrest Capital and Collaborative Fund.
  2. With the recent financial support, Unblock aims to bolster its environmental impact by doubling its computing capacity via new projects by September 2025, marked by an increase in data-and-cloud-computing capacity and expansion of its energy-to-computing platform across Latin America.
  3. Embracing the notion of sustainable investing and finance, Unblock endeavors to revolutionize the energy landscape of Latin America, positioning itself at the intersection of climate-change concerns, technology advancements, and the growing demands for AI compute power.

Read also:

    Latest