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GlassPoint Caps Landmark Year With Three Prestigious Awards

Date: 01/08/2014

Company: GlassPoint

Solar EOR leader recognized globally for project success and technology validation

FREMONT, Calif. & MUSCAT, Oman – Wednesday, January 8th 2014 —- GlassPoint Solar, the leader in solar enhanced oil recovery (EOR), today announced the company recently won recognition from three premier energy organizations for the successful deployment of its solar EOR technology. These accolades capped a momentous 2013, in which GlassPoint achieved numerous technical and commercial milestones. Most notably, GlassPoint proved its technology in the field with the launch of the Middle East’s first solar EOR project in Oman.

GlassPoint won three awards in recent months, including The Oil & Gas Year’s “Technology Provider of the Year” award, which is presented to companies that have significantly advanced Oman’s energy agenda. Oil & Gas Middle East awarded GlassPoint and Petroleum Development Oman (PDO) the “EOR Project of the Year” award for its solar EOR project and its impact on the broader energy industry in the region. Finally, GlassPoint was named to The Global Cleantech 100 list, produced by Cleantech Group, which recognizes the most promising and innovative companies most likely to make a significant market impact over the next five to ten years.

“In a few short years, GlassPoint has taken solar EOR from an idea to a proven solution operating in oilfields from the Middle East to California,” said Rod MacGregor, CEO of GlassPoint. “GlassPoint’s Enclosed Trough continues to exceed performance expectations and earn support from major partners across the oil industry. These industry awards and technical achievements reflect growing interest in large-scale solar EOR deployment from oil operators around the world.”

“Heavy oil will play a significant role in the global energy mix of the future, and will supply nearly half of incremental crude supplies between 2012 and 2030. Most of this production will require steam injection to extract, with natural gas as the primary heat source,” said Laura Atkins, Executive Director of Upstream Research at Hart Energy. “GlassPoint’s proven solar EOR technology enables oil companies to expand heavy oil production while reducing natural gas use for EOR by up to 80 percent. This is a compelling proposition for many oil-producing nations, as gas saved can be redirected toward LNG export or put to use by local industry to fuel economic growth.”

The three latest awards bring GlassPoint’s total award tally for 2013 to four. As previously announced, GlassPoint was also selected as a 2013 Energy Innovation Pioneer by IHS CERA, one of the world’s leading energy research firms.

For more information on the performance and construction of GlassPoint’s project with PDO, download co-authored SolarPACES papers here.

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