Sustainable Finance Executive Named GlassPoint's Chief Commercial Officer

Jacob Drejer joins decarbonization leader to help industrial companies meet net-zero commitments

NEW YORK, Sept. 15, 2022 /PRNewswire/ -- GlassPoint, the leader in decarbonizing the production of materials essential to the energy transition, today announced that Jacob Drejer has joined the company as Chief Commercial Officer. The seasoned business leader brings over 25 years of experience developing market solutions advancing sustainability to the company, with broad expertise in financial asset management, renewable energy and decarbonization. Drejer will focus on business development and strategy, helping companies across mining, metals, manufacturing and more deploy GlassPoint's proven solar thermal solutions to meet net-zero commitments.

"Jacob deeply understands the challenges that businesses face to decarbonize operations while reducing risk and ensuring reliability," said Rod MacGregor, CEO and founder of GlassPoint. "He also brings extensive deal and project experience from working with a range of industries and technologies around the world. Jacob's experience, network and knowledge are invaluable to help our industrial customers meet looming net-zero commitments without disruption."

Drejer specializes in building scalable project finance opportunities around resource efficiency and environmental risk. Drejer previously spent a decade at GE Capital International leading environmental and sustainability programs in EMEA and APAC. Following GE, he launched and helped finance various companies and projects, all focused on industrial decarbonization. He started his career as an environmental risk consultant in M&A.

"It's notoriously difficult to reduce carbon emissions in many industries, and GlassPoint provides the only solution proven to dependably do so at scale," said Drejer. "With new financing offerings that de-risks investment in solar steam and an expanded target market that encompasses everything from mining to manufacturing, GlassPoint is uniquely positioned to capture a large share of the $444 billion opportunity for industrial heat. We are already seeing strong interest from a range of industrial companies around the world seeking to combat climate change by switching to solar steam."

Drejer joins the company at a time when demand for solutions to reduce carbon emissions is at all-time-high. More than one-fifth (21%) of the world's 2,000 largest public companies have committed to meet net-zero targets, as well as one-third of the global mining industry. Moreover, McKinsey projects capital spending on physical assets for energy and land-use systems in the net-zero transition between 2021 and 2050 will amount to $275 trillion.

Drejer's arrival comes on the heels of GlassPoint signing a Memorandum of Understanding with Saudi Arabian Mining Company (MA'ADEN) to develop the world's largest solar process heat plant at MA'ADEN's Alumina refinery, a 1.5GWth facility in Ras al Khair, Kingdom of Saudi Arabia.

About GlassPoint

GlassPoint decarbonizes the production of materials essential to the energy transition and makes a substantial impact on combating climate change. The company builds, owns and operates large-scale solar steam facilities to reduce carbon emissions in hard-to-abate industries such as mining and metals, chemicals, construction materials, desalination and more. GlassPoint is the only solution proven at scale to reduce carbon emissions from industrial process heat and has built more than half of the solar steam capacity in the world. Learn more at glasspoint.com.

To learn more about GlassPoint, visit: https://www.glasspoint.com/

SOURCE GlassPoint