GlassPoint, a company that provides solar thermal-based energy solutions, has closed $20 million in a 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 will help to advance its existing megaprojects as well as power expansion across the globe with a focus on projects in the U.S. Southwest, Southern Europe, the Middle East, and South America.
The company, with its Enclosed Trough system, offers a low-cost method of converting sunlight into industrial heat by capturing nearly 70% of available solar energy, while the company’s Unify Storage System enables delivery of clean thermal energy to its customers when needed.
The funding comes on the heels of GlassPoint’s partnership with Searles Valley Minerals to deploy 750 MWth of GlassPoint’s advanced solar technology to reduce costs while beginning to decommission the last two coal-fired plants in California.
The company continues to advance its flagship 1.5 GWth project with Ma’aden to decarbonize a bauxite refinery in Saudi Arabia.
“GlassPoint provides industry leaders with a proven solution to deliver industrial process heat at the lowest cost,” said Rod MacGregor, CEO of GlassPoint. “With this latest round of financing, we will expand into several new global markets where GlassPoint’s technology delivers compelling value. We look forward to helping leaders across mining, oil & gas, and building materials achieve a significant cost advantage against their competitors.”
Using this funding, the company also plans to expand its technology center in Stuttgart, Germany, by hiring leading technologists and engineers, as well as business development, engineering, and finance talent in Dubai and the U. S.
According to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report, Global VC and private equity funding in the solar sector in 2025 totaled $3.5 billion across 75 deals, 22% lower than the $4.5 billion raised in 60 deals in 2024. There were eight VC funding deals of $100 million or more in 2025.
