N.I.S. New Investment Solutions Leads $20M Funding Round for GlassPoint, the Solar Industrial Process Heat Leader

GlassPoint, a leading provider of solar industrial process heat, has successfully closed a $20 million funding round led by N.I.S. New Investment Solutions, a Liechtenstein-based asset management firm, with participation from returning investor MIG Capital. The investment aims to support ongoing megaprojects with Searles Valley Minerals in California and Ma'aden in Saudi Arabia, as well as expand power projects in the U.S. Southwest, Southern Europe, the Middle East, and South America.

The International Energy Agency reports that industrial process heat accounts for more energy usage globally than all forms of electricity combined. GlassPoint's solar technology offers a cost-effective solution for industrial process heat, particularly in regions with abundant sunlight. N.I.S. Founder, Takashi Sato, expressed confidence in GlassPoint's ability to reduce operating costs and emissions, highlighting the company's proven track record with industry leaders.

GlassPoint CEO, Rod MacGregor, emphasized the company's commitment to delivering industrial process heat at the lowest cost, aiming to provide a significant advantage to leaders in mining, oil & gas, and building materials. The funding follows GlassPoint's partnership with Searles Valley Minerals to deploy advanced solar technology, reducing costs and aiding in the decommissioning of coal-fired plants. GlassPoint continues to progress its flagship project in Saudi Arabia and maintain operations in Oman.

With the new funding, GlassPoint is expanding its Technology Center in Stuttgart, Germany, and hiring talent in Dubai and the United States. N.I.S. New Investment Solutions' investment signifies a strong endorsement of GlassPoint's technology and its potential to revolutionize industrial process heat globally.