Goldcrest, Collaborative Lead Round for Argentine Energy Startup

US-based funds Goldcrest Capital and Collaborative Fund have invested $13.5 million in a seed round for Argentine energy tech startup Unblock, which converts excess gas from oil and gas companies into computing power.

An Unblock computing 12MW data center, powered by gas that would otherwise be flared at Tecpetrol oil production facilities in Vaca Muerta, Argentina.

Source: Unblock

The fresh capital will help Unblock double its team to around 26 members across engineering and operations as it eyes a potential expansion into Brazil, said founder and Chief Executive Officer Tomas Ocampo. Other firms that participated in the round included Argentine groups Pampa Energia and Grupo Inversor Sielecki, alongside FJ Labs, NYDIG, Luxor Technology, and Sunna Ventures.

Unblock, which adopted ...