GlassPoint Solar Stock
Manufacturer of solar steam generators
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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
Royal Dutch Shell
RockPort Capital
Chrysalix Venture Capital
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
renewablesnow - Mar, 2 2024
GlassPoint to build Saudi factory for solar steam projectssolarpaces - Mar, 2 2024
Saudi factory to mass-produce Glasspoint's solar steam technologysolarpaces - Mar, 2 2024
Glasspoint and Saudi firm Ma'aden unveil 9 tons/hr solar steam demo plankawa-news - Dec, 20 2023
Davos in the desert: FII summit in Riyadh draws policymakers ...fastcompany - Sep, 7 2023
fastcompany.com