198. Cully Cavness — Harnessing Natural Gas Emissions for Cloud-Based Energy Solutions

Business Elevated

Season 6 Episode 41: In this episode, Pete Codella, managing director of business services at the Governor's Office of Economic Opportunity, talks with Cully Cavness, co-founder, president, and CEO of Crusoe Energy Systems Inc.

Cavness discusses his company's mission to address wasted natural gas emissions, describing how Crusoe captures flared natural gas at oil sites and converts it into energy to power data centers for AI computing and Bitcoin mining. He highlights Utah, particularly the Uinta Basin, as a significant operation hub due to its high energy capacity. Sharing his journey from geothermal energy to co-founding Crusoe, Cavness explains the environmental and economic benefits of their Digital Flare Mitigation technology, which reduces methane emissions while creating valuable computing power.

Cavness explores Crusoe's employment of mobile, satellite-connected systems to provide flexible, environmentally aligned power solutions without relying on traditional infrastructure. He showcases the company's evolution from Bitcoin mining to AI-focused GPU computing through its Crusoe Cloud product. It has driven significant growth and led to a $3.4 billion venture to build state-of-the-art liquid-cooled AI data centers in Texas powered by renewable energy. Recognized as Utah’s 2024 Rural Business of the Year at the 2024 Fall One Utah Summit, Crusoe emphasizes community engagement and sustainable practices as key drivers to Crusoe’s success.