# GlassPoint

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/glasspoint-2

- Industry: Renewable Energy
- Headquarters: New York, US
- Website: www.glasspoint.com
- Total disclosed funding: $2.5M
- Latest round: Series A (Jul 2, 2024)
- Investors on record: 1

## About

Based in New York, US, and founded in 2009, GlassPoint, Inc. operates as a designer and manufacturer of solar steam generators. In July 2023, the firm raised USD 8 million in series A funding led by investor 300PPM. The firm as of July 2023, has offices in the US, Germany, and the UK and is led by its President and CEO, Rod MacGregor.

The company provides solar steam technology designed to help industrial users reduce carbon emissions while ensuring cost efficiency. GlassPoint’s enclosed trough technology harnesses sunlight to produce steam, making it ideal for industries operating in remote and harsh environments as it requires low capital cost and operating expenses while delivering emission-free steam day and night. The enclosed trough system uses large, curved mirrors suspended inside an agricultural glasshouse, automatically tracking the sun to focus sunlight on a stationary boiler tube containing water, which efficiently produces high-pressure steam. This technology allows customers to immediately reduce carbon emissions by up to 80% without disrupting existing operations, as they retain their fossil fuel-based sources of steam while operating them at reduced capacity. Some of GlassPoint's projects include Ma’aden Solar I, Miraah, Amal II, etc.

The company plans to utilize its July 2023 funding to increase its market reach and support business expansion.

## Funding rounds

- Series A, Jul 2, 2024, $2.5M — MIG Capital

## Investors

- MIG Capital (https://capitalatlas.ai/funds/mig-capital) — Series A