GlassPoint

GlassPoint specializes in solar process steam production through its innovative enclosed trough technology, serving industrial sectors such as oil and gas, chemicals, and manufacturing. Founded in 2009 and headquartered in New York, US, GlassPoint focuses on leveraging solar energy for industrial steam generation. The company has executed 12 deals, with its most recent deal dated July 2, 2024, culminating in a Series A funding round worth USD 2. 5 mn led by MIG Capital.

The company's flagship Amal project launched in 2012, showcasing its commitment to sustainable energy solutions. GlassPoint specializes in the production of solar process steam utilizing its proprietary enclosed trough technology. This innovative solution harnesses sunlight to generate steam, catering primarily to industrial users in sectors such as oil and gas, chemicals, and manufacturing. The technology is designed to function efficiently in remote and harsh environments, ensuring consistent steam supply for various industrial processes.

GlassPoint has successfully deployed its technology in multiple locations, primarily in California and the Middle East, helping clients reduce carbon emissions while retaining fossil fuel-based steam sources. GlassPoint operates under a model that emphasizes long-term steam supply agreements with its clients, driving its revenue. These agreements allow customers to harness solar steam while reducing fossil fuel dependence, structured around cost savings associated with lower emissions. The company delivers solar steam using proven molten salt storage technology, aligning with clients' operational needs and sustainability goals.

In July 2024, GlassPoint Solar, Inc. raised USD 2. 5 mn as part of a larger USD 10. 5 mn Series A round from MIG Capital.

This funding will be allocated towards expanding its engineering, commercial, and operations teams to support a pipeline of large-scale projects. The company is focused on enhancing its product offerings and exploring new markets for growth. In January 2026, GlassPoint raised USD 20 million in venture funding led by new investor New Investment Solutions, with participation from returning investor MIG Capital. The company will use the funding to advance existing solar heat projects, expand into new regions, and grow engineering and business teams to support additional industrial deployments.