Crusoe Expands International Footprint into Argentina with Local Project Developer Unblock

Crusoe Energy Systems LLC ("Crusoe") and Unblock Computing ("Unblock") announced today a strategic alliance to bring Crusoe's Digital Flare Mitigation® ("DFM") technology to Argentina with the commissioning and ongoing operation of the first DFM project in Argentina's Vaca Muerta oilfield in an effort to reduce the energy waste and environmental impacts of natural gas flaring.

This is the first international expansion of Crusoe's DFM technology and represents an important milestone in Crusoe's global expansion plans and efforts to mitigate methane emissions. Globally, approximately 90% of the world's flaring occurs outside of the United States, which is why Crusoe has always envisioned international operations as part of its long-term mission to align the future of computing with the future of the climate. Argentina is the 12th biggest global emitter of methane, according to World Bank data. Methane emissions are the second largest cause of global warming according to the IEA and reducing methane emissions is a key pillar of broader decarbonization efforts.

Crusoe's DFM technology converts otherwise wasted and flared natural gas into electricity to power advanced computation by deploying modular data centers to capture the excess gas produced as a byproduct of oil production. More than 120 of Crusoe's modular DFM data centers are deployed throughout the United States and reduced natural gas flaring by more than 4 billion cubic feet in 2022.

Highlights

• DFM deployments to create significant economic, employment, technological and environmental benefits throughout Argentina's energy industry by creating a value-adding alternative to natural gas flaring and waste.
• DFM to help mitigate Argentina's flare growth - Argentina increased flaring from 2016 to 2021 at the world's fastest pace according to the World Bank.
• Projects can be scaled from hundreds of thousands of cubic feet of gas per day to millions of cubic feet per day, with project scale determined to match and follow a site's volume of otherwise flared gas.
• DFM technology eliminates up to 99% of methane emissions relative to continued flaring, which does not fully combust methane. Because methane is 84 times more potent than CO2 as a greenhouse gas, DFM's enhanced methane elimination produces a 69% reduction in CO2-equivalent emissions compared to flaring.

"We are very excited about Crusoe's expansion into Argentina and appreciate Unblock's unwavering commitment in the region, which is helping Crusoe further our mission to align the future of computing with the future of the climate," said Cully Cavness, Crusoe's Co-Founder and President. "We anticipate further expansion in the Vaca Muerta and Unblock has been an excellent partner as we continue to scale our Argentinian operations."

Unblock has engaged exclusively with Crusoe in Argentina and benefits from access to Crusoe's experience, supply chains, technology, intellectual property, training and know-how surrounding DFM including software, hardware and operational capabilities. Similarly, Crusoe will rely on Unblock's regional expertise and on-the-ground execution to ensure long-term success of the project. The strategic alliance enables rapid deployment across the region by taking Crusoe's proven technology in the U.S. and properly translating the technology into the local Argentine environment. The companies look forward to continued collaboration and expansion within the region.

"At Unblock, our mission is to help leading climate technology companies enter and scale in Latin America," said Tomas Ocampo, CEO and founder of Unblock. "Our collaboration with Crusoe is core to that mission. The alignment of their operational knowledge and expertise with DFM paired with our ability to execute in-country and navigate the local business environment is an exciting opportunity to work together to create global impact."

About Crusoe Energy Systems LLC

Crusoe is on a mission to align the future of computing with the future of the climate. As builders and operators of clean computing infrastructure, Crusoe reduces both the costs and the environmental impact of the world's expanding digital economy. By unlocking stranded sources of energy to power artificial intelligence, crypto, and other high performance computing applications, Crusoe is creating the future of compute-intensive innovation that reduces emissions rather than adds to them.

To learn more, visit www.crusoeenergy.com and follow Crusoe on Linkedin and Twitter.

About Unblock Computing

Unblock shrinks the gap between the application of climate technology in developed and developing economies. We bring new services and align local capital to help American climate companies grow internationally faster and with less risk. Unblock's first mission is to transform Latin America's flare gas problem into progress for the region. As Crusoe's strategic ally, Unblock seeks to curve the growth path of worlds fastest growing flare market - Argentina - levering Crusoe's technology.

To learn more, visit www.unblock.global and follow Unblock on Linkedin and Twitter.