Unblock, a company that transforms otherwise wasted energy into computing power, has secured $13.5 million in a funding round led by Goldcrest Capital and Collaborative Fund. This investment aims to accelerate the company’s expansion across Latin America and enhance its operational capabilities.
Additional participants in the round included Argentine energy firms Pampa Energia and Grupo Sielecki, alongside FJ Labs, NYDIG, Luxor Technology, Sunna Ventures, and various prominent Latin American entrepreneurs. Unblock’s operational model involves deploying modular data centers at remote energy production sites to capture gas that would typically be flared or utilize curtailed renewable energy. This process generates economic value for energy producers and is reported to eliminate 142,000 tons of CO2 annually.
Tomas Ocampo, CEO and founder of Unblock, stated, “We are building at the crossroads of AI’s explosive energy demand and Latin America’s vast bottlenecked energy resources.” He added, “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.”
Unblock’s growth is largely driven by Argentina’s increasing flaring issues. The company currently operates the world’s second-largest computing fleet at oil field facilities, with plans to double its capacity through two major projects expected to be completed by September.
Craig Wilson, Partner at Collaborative Fund, commented on the investment, stating, “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.”
Dan Friedland, Managing Partner at Goldcrest Capital, also expressed enthusiasm for the partnership. “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,” Friedland noted.
The secured funding will support Unblock’s aggressive hiring initiatives across its engineering and field operations teams. Furthermore, the company plans to vertically integrate data center production locally and further accelerate its expansion throughout the Latin American region.
Unblock is an energy infrastructure company that converts flared gas and stranded renewables into revenue. Goldcrest Capital, founded in 2015 and headquartered in Dallas, Texas, is a venture capital fund with $1.9 billion in assets under management. Collaborative Fund, established in 2010, is a venture capital firm that invests in companies positioned at the intersection of for-profit and social impact, with over 100 investments to date.
