Ubiquitous Energy's transparent solar tech reaps $30M investment
Ubiquitous Energy, a specialist in transparent solar architectural glass technology for the conversion of light into electricity using semiconducting materials while still maintaining visible transparency, on Jan. 11 announced that the company closed a $30 million Series B funding round late last year.
The funding round was led by participation from both new and existing investors in the company, including Andersen Corporation, ENEOS, Safar Partners, Hostplus, Red Cedar Ventures, and Riverhorse Investments.
Ubiquitous Energy’s technology is billed as "the only patented and transparent photovoltaic glass coating that harnesses solar power to generate energy, all while remaining visibly indistinguishable from traditional windows."
Including this lastest Series B round, a total of $70 million of funding has been raised by Ubiquitous Energy to date, showing the significant interest that exists amongst investors as the company ramps its transparent solar "UE Power" technology towards commercialization.
Aimed at the commercial window industry
The company has begun the site selection process for its first high volume manufacturing line that will be located in the U.S., which will enable the company to bring its UE Power technology to the window industry.
As contended by a Ubiquitous Energy statement:
Broad adoption of UE Power within architectural glass has the opportunity to offset up to an estimated 10% of global CO2 emissions, greatly reducing the 40% of global carbon emissions that come from buildings and improving their energy efficiency at the same time.
With more than 20 billion square feet of windows installed in homes and buildings every year, homeowners and businesses have an opportunity to increase value from these surfaces by installing transparent solar window products that produce energy and reduce the building’s carbon footprint.
To both residential and commercial building occupants, Ubiquitous Energy’s transparent solar windows provide a clear, natural experience that is expected from traditional windows, but with renewable energy generation that can be used for self-contained, on-board power and smart functionality or to offset energy consumption elsewhere.
It is a complementary solar power asset that works within a portfolio of other renewable technologies for a larger, cumulative effect.
The Series B funding will allow the company to direct resources to continued research and development, manufacturing and product deployment, "ultimately allowing more people to experience the power of solar," it said in a statement.
“Ubiquitous Energy’s transparent photovoltaic technology is revolutionary and represents a new horizon for the fenestration industry,” commented Jay Lund, chairman and chief executive officer, Andersen Corporation. “As America’s premier window and patio door manufacturer, Andersen is excited to support the work of Ubiquitous Energy to bring solar power into homes and commercial buildings through windows and doors, creating new opportunities for energy efficiency, cost savings and smart home integrations that will both delight homeowners and contribute to a healthier planet.”
“Ubiquitous Energy’s passionate team has created a next-generation technology that’s effective, affordable, and beautifully designed,” said Yaz Yazaki, ENEOS executive officer. “Ubiquitous Energy’s transparent solar products can bring renewable energy to every surface around the globe, and we look forward to working with the team as they increase solar adoption in the U.S. and beyond.”
“We are thrilled to bring on new and existing investors as partners, including ENEOS, a leader in the renewable energy sector, and Andersen, America’s premier window manufacturer,” said Susan Stone, Ubiquitous Energy’s CEO. “Since our technology’s inception at MIT & MSU over 10 years ago to now, looking towards the future, we are committed to making an enormous impact environmentally. This latest funding round will help expand what’s possible in a renewable energy portfolio and change the way the world utilizes solar power – one window at a time.”
