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GlassPoint Solar Stock

Manufacturer of solar steam generators

Founded

2008

Notable Investors

Royal Dutch Shell

Headquarters

Fremont CA, US

Total Funding

$123M

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

GlassPoint Solar, Primus Power

Royal Dutch Shell

GlassPoint Solar

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

Oman-based GlassPoint Solar appoints new CEO

Construction Week Online - Mar, 18 2018

Other Companies

EquityZen does not have an affiliation with, formal relationship with, or endorsement from GlassPoint Solar or any companies feature above. This profile is based on publicly available information and is intended to be informative in nature.

Some data provided by Crunchbase

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