Oil extraction technology developer GlassPoint had raised more than $130m from investors including Shell but has wound up in liquidation during the current economic climate.

GlassPoint Solar, a US-based solar steam technology backed by oil and gas producer Shell, went into liquidation last month, PV Magazine has reported, citing an internal email. The move follows a decision by diversified conglomerate Mitsui not to pursue a planned investment in the company due to the economic slowdown, GlassPoint CEO Steven Moss wrote…

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