GlassPoint Solar Finds $26M

Fremont-based GlassPoint Solar, which develops technology used for solar steam generators used to facilitate the recovery of oil in pumping operations, said today that it has raised $26M in a Series B funding. The funding came from Royal Dutch Shell plc, as well as RockPort Capital, Nth Power and Chrysalix Energy Venture Capital. GlassPoint's technology uses solar thermal equipment to generate steam, which is then injected into oil wells to enable pumping and recovery of heavy oil. More information »