Ubiquitous Energy Closes $30 Million Series B Funding Round

Rhea-AI Summary

Ubiquitous Energy, a leader in transparent solar technology, has announced a successful $30 million Series B funding round, bringing total funding to $70 million. Key investors include Andersen Corporation and ENEOS. This funding will accelerate the commercialization of their patented UE Power™ technology, which can offset up to 10% of global CO2 emissions from buildings. The company is also selecting a site for its first manufacturing line in the U.S., aiming to boost deployment of solar generating windows that integrate seamlessly into architectural designs.

Positive

• Total funding raised is now $70 million, indicating strong investor interest.
• The patented UE Power™ technology can significantly reduce CO2 emissions from buildings by up to 10%.
• Plans to establish a manufacturing line in the U.S. will enhance production capacity.

Negative

• None.

World leading transparent solar technology dramatically reduces the carbon footprint of buildings—the planet’s biggest energy consumers

REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Ubiquitous Energy, the world leader in transparent solar technology — the conversion of light into electricity using semiconducting materials all while maintaining visible transparency — announces today that the company closed a $30 million Series B funding round late last year. The raise was led by participation from both new and existing investors, including Andersen Corporation, ENEOS, Safar Partners, Hostplus, Red Cedar Ventures, and Riverhorse Investments. Ubiquitous Energy’s technology is 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 Series B round, a total of $70 million of funding has been raised by the company to date showing the significant interest that exists amongst investors as the company ramps its transparent solar UE Power™ technology towards commercialization. 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. 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 allows the company to direct resources to continued research and development, manufacturing and product deployment, ultimately allowing more people to experience the power of solar.

“Ubiquitous Energy’s transparent photovoltaic technology is revolutionary and represents a new horizon for the fenestration industry,” said 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.”

The investment concludes a significant 10^th year anniversary for Ubiquitous Energy, which saw numerous installations of its technology, including the following:

• ENEOS and NSG Install Transparent Solar Windows from Ubiquitous Energy at NSG’s Facility in Japan (Sept. 29, 2021) : ENEOS and NSG have begun Japan's first installation of transparent solar windows that were developed and fabricated by Ubiquitous Energy, read more here.
• Ubiquitous Energy Installs Colorado’s First-Ever Fully Transparent Solar Windows (Sept 9, 2021): Next-Generation Transparent Solar Technology Installed In Energy-Efficient Commercial Office Building, read more here.
• Power generation you can see through (Aug 25, 2021): Michigan State University and Ubiquitous Energy install transparent solar panels on campus, read more here.

“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.”

About Ubiquitous Energy, Inc.

Founded in 2011, Ubiquitous Energy was started by a group of MIT and MSU scientists and engineers looking for new ways to reduce humanity’s carbon footprint by seamlessly integrating solar power technology into everyday products and surfaces. Ubiquitous Energy has the world’s leading transparent solar technology – the conversion of light into electricity using semiconducting materials all while maintaining visible transparency. To both residential and commercial building occupants, Ubiquitous Energy’s solar windows provide a clear, vibrant experience that is expected from traditional Low-E windows, but with self-contained, on-board power and smart functionality. For more information please visit us at https://ubiquitous.energy/ or connect with us via Linkedin.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220111005441/en/

Kathy Berardi

JMG Public Relations

678-644-4122

kathy@jmgpr.com

Source: Ubiquitous Energy

FAQ

What is the recent funding amount raised by JXHLY?

JXHLY's parent company, Ubiquitous Energy, recently raised $30 million in Series B funding, totaling $70 million to date.

How does Ubiquitous Energy's technology impact CO2 emissions?

Ubiquitous Energy's technology has the potential to offset up to 10% of global CO2 emissions from buildings.

Where will Ubiquitous Energy establish its manufacturing line?

Ubiquitous Energy is currently selecting a site for its first high-volume manufacturing line in the U.S.

Who are the key investors in JXHLY's recent funding round?

Key investors in the recent Series B funding include Andersen Corporation and ENEOS.