GlassPoint Welcomes David Allsworth as Chief Financial Officer

  GlassPoint Welcomes David Allsworth as Chief Financial Officer

Seasoned finance executive from Alstom, Siemens to help accelerate deployment
                            of solar EOR globally

Business Wire

FREMONT, Calif. & MUSCAT, Oman -- October 23, 2013

GlassPoint Solar, the leader in solar enhanced oil recovery (EOR), today
announced the appointment of David Allsworth as chief financial officer based
in Muscat, Oman. Allsworth brings more than two decades of financial
experience with leading global companies in the energy industry.

“GlassPoint embodies the energy industry’s transformation, combining
traditional fuel sources with renewable energy to develop sustainable and
cost-effective solutions,” said Allsworth. “I’m thrilled to join such a
visionary team and look forward to helping GlassPoint accelerate deployment of
solar EOR across the Arabian Peninsula and beyond.”

Allsworth most recently served as SVP and CFO of the severe service division
at IMI Plc., a global engineering group specializing in complex fluid control
applications. Allsworth previously held senior financial leadership roles at
Alstom Power, including finance director for Alstom’s global gas power plant
business where he oversaw an international portfolio of more than $10 billion
in projects. Prior to joining Alstom, Allsworth served as CFO of the
industrial gas turbine division of Siemens AG. He was responsible for the
integration and financial development of this business into the Siemens
structure and managed an international team of more than 300 employees.
Allsworth studied accountancy and finance at Sheffield Hallam University in
the United Kingdom.

“Strong financial stewardship is essential to help GlassPoint reach the next
phase of growth,” said Rod MacGregor, GlassPoint CEO. “David’s impressive
track record and experience across energy and engineering industries make him
ideally suited to help us expand GlassPoint’s role as the world leader in
solar EOR.”

GlassPoint recently welcomed Daniel Palmer, a 20-year Schlumberger veteran, as
the director of business development for the Middle East region. Earlier this
month, the company was awarded “Enhanced Oil Recovery Project of the Year” by
Oil & Gas Middle East for its solar EOR project with Petroleum Development
Oman in Amal, Oman. The recognition comes shortly after being awarded
“Technology Provider of the Year” by Oil & Gas Year.

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’s steam
generators can reduce EOR gas consumption by up to 80 percent. The gas saved
can be exported as LNG or redirected to the private sector to promote economic
growth and job creation. GlassPoint’s Enclosed Trough technology delivers
steam at costs competitive with gas-fired steam generation. By deploying solar
EOR, oil operators can boost well productivity by up to 300 percent.
GlassPoint’s projects operate in global markets ranging from the Middle East
to California. For more information, visitGlassPoint.com.

Contact:

Antenna Group for GlassPoint
Matt Stewart, 415-977-1930
glasspoint@antennagroup.com
 
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