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
*Based on Preferred Stock Price, GlassPoint Solar does not have a stock symbol since it is currently private and is yet to have an IPO.
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