GlassPoint Solar gets Royal Dutch Shell boost
Posted on December 11, 2012 at 07:01 AM EST
GlassPoint Solar gets Royal Dutch Shell boost San Francisco Chronicle Copyright 2012 San Francisco Chronicle. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Published 11:43 a.m., Tuesday, December 11, 2012 GlassPoint Solar's technology generates high-pressure steam to heat oil underground, helping it flow to the surface. In addition to Shell, other series B investors include RockPort Capital, Nth Power and Chrysalix Energy Venture Capital. In October, the company finished construction on one of its systems in Oman, working with a joint venture that includes Shell, French oil giant Total and the Oman government. Typically, they use boilers fired by natural gas to generate the steam. [...] Oman, perched on the eastern shore of the Arabian Peninsula, doesn't have much natural gas.
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