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GlassPoint Welcomes David Allsworth as Chief Financial Officer Seasoned finance executive from Alstom, Siemens to help accelerate deployment of solar EOR globally

Wednesday, October 23, 2013

FREMONT, Calif. and MUSCAT, Oman - 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.

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, visit GlassPoint.com.

Office: 415-778-2800
info@glasspoint.com
www.glasspoint.com