GlassPoint, a New York-based company, will build the world's largest solar thermal plant in Saudi Arabia. This facility will produce steam in order to manufacture aluminum - not to generate electricity or to enhance oil recovery. Aluminium is used in products such as cars, computers, and cell phones.
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Imagine you are an industrial user, and you have to decarbonize: do you spend hundreds of millions of dollars on new technology? Or do you allocate scarce capital to your core business? Today, they buy gas to produce steam. But now they can buy solar-powered steam,” says Rod MacGregor, the founder and chief executive of GlassPoint.
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