Chrysalix commits to $53 mln equity funding of GlassPoint Solar
GlassPoint Solar Inc, a provider of solar steam generators to the oil and gas industry, has raised US$53 million in equity investment. The deal was led by Oman State General Reserve Fund and Shell Technology Ventures and was joined by the company's existing backers, which include Canadian venture capital firm Chrysalix Energy Venture Capital. GlassPoint will use the new funds to accelerate deployment of its solar steam generators, which the company said can reduce an oilfield’s natural gas consumption by up to 80 percent. Founded in 2008, GlassPoint is based in Fremont, California.
9 September 2014•5 mins read
