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.
$600 million – cost of project
740 acres - of desert Miraah will span
6,000 tons – of solar steam produced daily
5.6 trillion BTUs – of natural gas saved each year
300,000 tons – of C02 emissions saved each year
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.