UbiQD Expands Collaboration with First Solar on Quantum Dot-Enhanced Solar Modules

Rhea-AI Summary

UbiQD and First Solar have entered into a joint development agreement to explore the use of quantum dot technology in advanced solar modules. Quantum dots have the potential to optimize the absorption of light and significantly increase the efficiency of current PV technologies. This collaboration could lead to enhanced panel efficiency and contribute to sustainable economic development.

Positive

• UbiQD and First Solar are collaborating on developing quantum dot technology for advanced solar modules, which could significantly increase panel efficiency.
• Quantum dots have high efficiency photoluminescence and can optimize the absorption of light, potentially leading to enhanced panel efficiency.
• The joint development effort aims to explore the broad applicability of quantum dot technology in solar modules, contributing to sustainable economic development.

Negative

• None.

Newly developed quantum dot composites present unique opportunities to optimize sunlight utilization.

LOS ALAMOS, N.M., Aug. 15, 2023 /PRNewswire/ -- UbiQD, Inc., a New Mexico-based nanotechnology company, announced today that it has entered into a joint development agreement, with First Solar, Inc. (NASDAQ: FSLR), to further collaborate on developing the potential to incorporate fluorescent quantum dot technology in advanced solar modules. The two companies have been conducting exploratory work since early 2022, and the initial results have supported the more formalized joint-development effort announced today.

"nanomaterials are proving to be a key tool in humanity's urgent response to climate change"

Quantum dots (QDs) are semiconductor nanoparticles that exhibit high efficiency photoluminescence over a wide range of tunable colors, making them effective at optimizing light spectra. UbiQD has launched several greenhouse products under its UbiGro® brand that adjust the spectrum of sunlight to enhance crop growth. Now, the company is engineering these materials for potential applications in utility-scale solar with the aim of significantly increasing the efficiency of current PV technologies.

"As we work towards developing the next generation of photovoltaics, we are exploring a range of enhancements that could allow us to convert more sunlight into energy," said Markus Gloeckler, chief technology officer, First Solar. "We are interested in the potential use of quantum dots in optimizing the absorption of light and look forward to continuing our work with UbiQD on exploring this possibility."

"With First Solar's domain expertise and leadership position in multi-gigawatt-scale solar, we are excited to be working together on the potential to enhance panel efficiency using quantum dot technology," added Hunter McDaniel, UbiQD CEO. "If successful, this application in solar modules will be a perfect example of the broad applicability of our core technology. With emerging applications in food and energy, these novel nanomaterials are proving to be a key tool in humanity's urgent response to climate change and further sustainable economic development."

About UbiQD, Inc.
UbiQD (pronounced 'ubiquity') is an advanced materials company powering product innovation in agriculture, clean energy, and security. Our quantum dots enable products that harness the power of color and light. Headquartered in Los Alamos, New Mexico, UbiQD is licensing technology developed at leading research institutions, including Los Alamos National Laboratory and M.I.T. The company was recently recognized as the 'Best Overall Venture' at the 2023 National Renewable Energy Laboratory (NREL) Industry Growth Forum (IGF) in Denver. To learn more, please visit https://ubiqd.com and https://ubigro.com.

CONTACT: info@ubiqd.com

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SOURCE UbiQD, Inc.

FAQ

What is the joint development agreement between UbiQD and First Solar about?

The joint development agreement is about exploring the use of quantum dot technology in advanced solar modules.

What are quantum dots and how can they optimize light absorption?

Quantum dots are semiconductor nanoparticles that exhibit high efficiency photoluminescence. They can optimize the absorption of light, potentially leading to enhanced panel efficiency.

What are the potential benefits of using quantum dot technology in solar modules?

Using quantum dot technology in solar modules could significantly increase panel efficiency, contributing to sustainable economic development.

How could this collaboration impact UbiQD and First Solar's businesses?

If successful, this collaboration could lead to enhanced panel efficiency and potentially have a positive impact on UbiQD and First Solar's businesses.