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Glasspoint Closes $8M Series A To Help Industry Meet Pressing Net-Zero Goals

Jul 31, 2023•over 2 years ago

Amount Raised

$8 Million

Round Type

series a

New YorkSolarRenewable EnergyEnergyManufacturing

Investors

Glass PointFormer Alcoa Coo Tomas SigurdssonFormer Australian Prime Minister Malcolm Turnbull300 Ppm

Description

Today, GlassPoint, the leader in decarbonizing industrial process heat, closed an $8M series A investment led by 300PPM and joined by former Australian prime minister Malcolm Turnbull, former Alcoa COO Tomas Sigurdsson and several additional industrial leaders. GlassPoint will use the investment to expand operations to help industrial companies decarbonize and meet looming net-zero commitments with the only solution proven to decarbonize industrial process heat at scale.

Company Information

Company

GlassPoint

Location

New York, New York, United States

About

By harnessing sunshine to produce steam, GlassPoint helps industry leaders reduce their carbon emissions at the lowest possible cost. GlassPoint designed its enclosed trough technology specifically to address the needs of industrial users, especially those operating in remote and harsh environments. Enclosed trough technology has been deployed at scale in multiple projects in California and the Middle East.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers