GlassPoint Solar Appoints Battery Ventures Partner

GlassPoint Solar, a solar enhanced oil recovery company, has appointed David Dreessen as the company’s chief financial officer. Dreessen joins GlassPoint from Battery Ventures where he was a partner since 2006. He has completed more than 19 energy technology investments including Evergreen Solar, Northern Power Systems, Modular Wind Energy, AllConnect, Spectrasensors and Synapsense.

PRESS RELEASE

GlassPoint Solar, the global leader in solar enhanced oil recovery (EOR), today announced the appointment of David Dreessen as the company’s chief financial officer (CFO). Effective immediately, Dreessen will oversee the financial and administrative functions of GlassPoint as the company scales several solar EOR projects worldwide.

“GlassPoint is a top company in the energy technology asset class,” said Dreessen. “I’ve been following GlassPoint since the company was founded in 2009, and the progress they’ve made in such a short time is truly remarkable. With a capital efficient model and differentiated product, GlassPoint is positioned for rapid growth in the over $100 billion solar EOR market. I’m thrilled to be apart of a world class team that is transforming the EOR industry.”

Dreessen joins GlassPoint from Battery Ventures, a leading venture capital firm that has backed many breakthrough technology companies around the world. A partner at Battery Ventures since 2006 and previously with Nth Power, Dreessen has completed more than 19 energy technology investments including Evergreen Solar, Northern Power Systems, Modular Wind Energy, AllConnect, Spectrasensors and Synapsense. He holds a bachelor’s degree in Chemical Engineering and Economics from the University of California, Davis, and an MBA from the Haas School of Business, University of California, Berkeley.

“We knew that we needed a financial executive with the talent and experience to help us transition to the high-growth phase of our business,” said Rod MacGregor, President & CEO of GlassPoint. “David’s phenomenal track record in private equity and emerging energy technologies makes him ideally suited to lead our financial team as they access capital markets to fund our exponential growth.”

About GlassPoint Solar

GlassPoint is the leading provider of solar steam generators to the oil and gas industry. When used for Enhanced Oil Recovery (EOR), GlassPoint solar steam generators reduce natural gas consumption by up to 80%, redirecting gas resources to higher value applications such as electricity generation and export. GlassPoint’s solar EOR solution delivers steam at a lower cost than steam produced by burning natural gas, enabling producers to economically recover more oil. GlassPoint drives lower costs by enclosing lightweight components within a glasshouse to seal the system from sand, dust, dirt and high humidity typical of oilfield environments throughout the world. The company is headquartered in Fremont, California with offices in Bakersfield, California, Muscat, Oman and Shenzhen, China. For more information, visit glasspoint.com.

SOURCE: GlassPoint Solar