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GlassPoint Solar Stock
Manufacturer of solar steam generators
About GlassPoint Solar Stock
GlassPoint is a provider of solar steam generators to the oil and gas industry for applications such as solar enhanced oil recovery (EOR). EOR typically uses natural gas to extract heavy and viscous oil from difficult-to-access oil fields. Unlike solar panels that generate electricity, solar EOR uses large, curved mirrors to focus sunlight on a boiler containing water. The concentrated energy boils the water to produce steam, which is then injected into an oil reservoir to heat the oil and reduce its viscosity, making it easier to extract and pump to the surface.
By replacing gas-fired steam generation with solar, GlassPoint aims to reduce EOR gas consumption. The gas saved can be redirected to higher value uses such as liquefied natural gas export, industrial development and power generation. GlassPoint's solar facilities are enclosed in a greenhouse in order to more efficiently protect the panels from the wind and for easier cleaning. These greenhouses are cleaned robotically at night and the water is reused for future cleaning. GlassPoint’s projects operate in global markets ranging from the Middle East to California.
Overview of GlassPoint Solar Miraah Project:
Source: GlassPoint Solar
Investors
Chrysalix Venture Capital
RockPort Capital
Royal Dutch Shell
Funding History
September 2010 | $5.5M |
---|---|
September 2010 | $26.4M |
September 2014 | $18.0M |
September 2017 | $37.6M |
Management
CEO
Steven Moss
CTO
Pete von Behrens
CFO
David Allsworth
Press
Forbes - Nov, 29 2019
Forbes - Mar, 7 2019
Trade Arabia - Sep, 4 2018
ZAWYA - Sep, 3 2018
Times of Oman - Jul, 30 2018
thebusinesstactics.com - Jul, 30 2018
theaerospacenews.com - Jul, 27 2018
Energy News - Jul, 27 2018
thebusinesstactics.com - Jul, 23 2018
ittechherald.com - Jul, 19 2018
Muscat Daily - Jun, 10 2018
Trade Arabia - Mar, 26 2018
Business Wire (press release) - Mar, 19 2018
Construction Week Online - Mar, 18 2018
Business Wire (press release) - Feb, 27 2018
- Feb, 24 2018
CleanTechnica - Feb, 14 2018
Renewables Now - Feb, 13 2018
JWN - Feb, 12 2018