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GlassPoint Solar
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Short description

Manufacturer of solar steam generators for the oil and gas industry

Founded in 2008
Founded in

Company type Private Public ()
Company type

Industry Group energy & power

Sector solar

TRL Range 7-8
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
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Headquarters New York, NY New York, United States
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Updated by at on 09/26/2023

Edited by Cleantech Group on 07/08/2024

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Date Company
08/03/2011

Petroleum Development Oman (PDO) Petroleum Development Oman (PDO)

PDO, the largest producer of oil and gas in the Sultanate, commissioned the Middle East's first solar enhanced oil recovery project in May 2013 using the GlassPoint system. The solar EOR project produces an average of 50 tons of emissions-free steam per day, feeding directly into PDO's existing thermal EOR operations at their Amal West field in Southern Oman.

Confirmed by Petroleum Development Oman (PDO)

Partnerships
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Date Partner Type
06/16/2022
Ma'aden Ma'aden
Ma'aden signed MOU to develop solar project. GlassPoint, previous out of business, rebuilt with partnerships and funding from Blackrock.
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Confirmed by Ma'aden
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IPO INFORMATION

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Description

Date Investors Type Amount
07/02/2024 MIG Capital MIG Capital (1)
Post-money valuation of
The funding will be used to expand its various teams and advance the development of the world's largest solar process heat plant for mining company Ma'aden
Series A $2,500,000
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Products
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Product image Name Product status Revenue model Cost metrics

GlassPoint steam generators

Enclosed and sealed off solar panels generate steam for injection use in oil and gas wells.

Wide Commercial Availability Products - Retail
$/kW (current)
$/kW (projected)
$/kWh (current)
$/kWh (projected)
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