July 13, 2017 | Ubiquitous Energy Secures $15 Million in Series A-1 Financing
Redwood City, CA – Ubiquitous Energy, the leader in transparent solar technology, has secured $15 million in Series A-1 equity financing, bringing the company’s total funding to date to more than $25 million. This investment round includes continued participation from existing investors as well as new investor Aberdeen Worldwide Group. The funds will be used to accelerate development of the company’s ClearView PowerTM technology for large-scale window glass applications.
“We’re thrilled to have such a supportive group of investors,” said founder and CEO, Miles Barr, “and look forward to helping the glass industry join in the massive expansion we’re seeing in solar energy capacity.” Barr went on to explain, “the new investment will enable us to enlarge our glass coating equipment and expand our application development staff to support our joint development programs with global glass partners.”
|1 ft2 ClearView Power window prototype|
While myriad applications exist for utilizing onboard transparent solar energy harvesting, from consumer electronics to architecture, Ubiquitous Energy is focusing its initial application work on architectural glass. Last year, solar energy in the US grew 95% and it is expected to become the largest electricity resource by 2050. Ubiquitous Energy intends to capitalize on this opportunity by commercializing ClearView Power as an advanced window coating for the building integrated photovoltaics (BIPV) market. “The potential for enabling net zero buildings by harvesting solar energy from existing glass surfaces is an enormous breakthrough,” said a representative from Aberdeen.
The glass industry is well aware of the value available in advanced coatings, having benefited greatly from energy efficient low-E coatings over the last twenty years. Now that those coatings are becoming more of a commodity, Ubiquitous Energy is offering to fill the void and further increase the value of architectural glass products in an industry already expected to reach $134B by 2023. By combining energy efficiency with clean energy generation, ClearView Power transparent solar coatings will help the glass industry revolutionize how we power our buildings.
About Ubiquitous Energy
Ubiquitous Energy, the leader in transparent solar technology, is a Silicon Valley company developing the world’s first truly transparent solar technology. Originally spun out from the Massachusetts Institute of Technology, Ubiquitous Energy is implementing its award-winning ClearView Power technology into a wide range of products as an invisible, onboard source of electricity. ClearView Power selectively converts ultraviolet and infrared light into electricity, allowing visible light to pass through. Applied as a thin coating, ClearView Power can turn windows into solar panels without disrupting the view. The coating represents a cost-effective means of enabling everyday surfaces to convert ambient light into useful electricity without impacting their appearance. For more information visit www.ubiquitous.energy.
ClearView Power and Ubiquitous Energy are trademarks of Ubiquitous Energy, Inc.