INDUSTRY
Energy

CHRYSALIX PARTNER
Richard MacKellar

FOUNDED
2009

Chrysalix was the first institutional investor in GlassPoint, the leading manufacturer of breakthrough solar steam generators for the oil & gas industry. GlassPoint is currently constructing “Miraah”, the world’s largest solar field at the Amal oilfield in southern Oman.

When operational, Miraah will generate more than one gigawatt peak thermal energy and produce more carbon savings than all the electric cars in the United States today.

Our early investment in GlassPoint is a demonstration of our proven investment methodology. Prior to investing in GlassPoint, Chrysalix performed a deep dive into the solar space where we identified the parameters that would drive a great investment. Even though solar photovoltaic (PV) was set to dominate concentrating solar power (CSP) for electric power, we felt CSP could uniquely access huge industrial heat markets if the right technology with breakthrough characteristics could be found.

We discovered that innovation in 2010, and it was a two-person start-up called GlassPoint. Today, GlassPoint is the leader in solar enhanced oil recovery and employs several hundred people in the U.S. and Middle East.

01

$600 million – cost of project

02

740 acres - of desert Miraah will span

03

6,000 tons – of solar steam produced daily

04

5.6 trillion BTUs – of natural gas saved each year

05

300,000 tons – of C02 emissions saved each year

Key Facts

OPPORTUNITY: Solar steam at lower cost than burning natural gas. GlassPoint’s solution has 50% lower capital cost and 90% lower operating cost than established technology.

FIRST MARKET: EOR in the Middle East where there is a shortage of natural gas and the gas is high priced.

SOLAR EOR MARKET SIZE: Up to $100 billion.

VALUE PROPOSITION: Reduces both gas consumption and CO2 emissions by up to 80% in a very economical way for thermal EOR.

UPSIDE POTENTIAL: Mining, desalination, power generation, other industrial heat.

Chrysalix Investment Partnership

Chrysalix has been an essential contributor to GlassPoint’s growth, helping the company become the world leader in solar enhanced oil recovery. With its strong portfolio of Limited Partners, Chrysalix was able to foster valuable connections with companies like Royal Dutch Shell, who is now a major shareholder and strategic partner.

– ROD MACGREGOR, CEO, GLASSPOINT

Portfolio

General Fusion
Revolutionizing Energy Through Fusion

MineSense
Optimizing the Mine of the Future

GlassPoint
Breakthrough Solar Energy Technology

Get in Touch

New Address

 

Suite 2480 - 1055 West Georgia St.
Box 11102, Vancouver, BC V6E 3P3

T: 604.659.5499
F: 604.659.5479
E: info@chrysalix.com

      

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