Monday, September 8, 2014

GlassPoint Solar Gets $53M

Fremont-based GlassPoint Solar, a developer of solar steam generators, which are used for oilfield operations, said today that it has raised $53M in a funding round. The funding came from State General Reserve Fund (SGRF), the largest sovereign wealth fund in the Sultanate of Oman, Royal Dutch Shell (Shell), as well as existing investors. Glasspoint's generators are used to offset the use of natural gas in oilfields to generate steam, used for oil extraction and production. The company is led b Rod MacGregor. More information »