The solar steam company, which is targeting the oil and gas industry, raised the cash from a round featuring Shell's corporate venturing fund.

GlassPoint Solar, a US-based developer of solar steam technology, raised $53m in series C funding yesterday from investors including energy company Royal Dutch Shell.

Omani sovereign wealth fund State General Reserve Fund also participated in the round along with venture capital firms Chrysalix Energy Venture Capital, Nth Power and Rockport Capital Partners.

GlassPoint will use the cash to accelerate the deployment of its solar steam generators, which are targeted at the oil and gas industry for enhanced oil recovery. The…

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