MIG Capital Invests in GlassPoint to Advance Solar Thermal Innovations

MIG Capital, a major German venture capital firm, has invested US$ 2.5 million in GlassPoint. This new funding is an extension of last year's Series A round, led by 300PPM and private investors, including notable figures like Malcolm Turnbull and Tomas Sigurdsson.

GlassPoint specializes in providing decarbonized industrial heat through its patented solar thermal technology. This investment will bolster GlassPoint's engineering, commercial, and operations teams, aiding in their large-scale projects, including a major solar heat plant for Ma’aden in Saudi Arabia.

According to Dr. Søren Hein, Partner at MIG Capital, the investment aligns with the firm's commitment to ESG principles and highlights the environmental impact potential of GlassPoint's technology.