Energy

Ubiquitous Energy Closes $30 Million Series B Funding Round

Ubiquitous Energy, the world leader in transparent solar technology — the conversion of light into electricity using semiconducting materials all while maintaining visible transparency — announces 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. 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.”

Yaz Yazaki, ENEOS executive officer

The investment concludes a significant 10th 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.

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Greenwood Sustainable Infrastructure (GSI)-Led Joint Initiative with Ocean Man First Nation to Build One of the Largest Solar Projects in Canada

PR Newswire | January 25, 2024

Greenwood Sustainable Infrastructure LLC (GSI), one of the renewable energy subsidiaries of Libra Group, announced that Iyuhána Solar (Iyuhána), a GSI-led partnership with Saturn Power Inc. and Ocean Man First Nation, has been awarded a Power Purchase Agreement (PPA) to construct and operate a 100-megawatt (MWac) utility-scale solar facility in Saskatchewan, Canada. Developed in partnership with Ocean Man First Nation, the project will be one of Canada's top 10 solar facilities by size. Under an exclusive PPA, the largest with a utility in Canada since 2015, Iyuhána plans to invest approximately $200 million (CDN) to construct the solar facility, which it will operate, supplying generated power to the principal municipal utility company, SaskPower, for 25 years. Located in the Rural Municipality of Estevan in southeast Saskatchewan, this emissions-free solar facility will produce enough power for the equivalent of approximately 25,000 homes. "We are proud to bring the transformative power of solar energy to Saskatchewan by working with partners such as Ocean Man First Nation," said Mazen Turk, CEO of GSI. "This unique collaboration shows the power of renewable energy to harness resources and empower communities responsibly. This work is core to our ethos as a Libra company, and we look forward to continuing to help support a clean energy future across Canada and beyond." As a founding partner, Ocean Man First Nation will have an ownership stake in Iyuhána Solar. Band members will also receive specialized training to maintain the solar facilities and employment opportunities with the project. Additionally, partnering with two of Saskatchewan's leading post-secondary academic institutions, Iyuhána will provide scholarships, internships, and direct research projects in clean energy to benefit the community. "Our partnership with GSI and SaskPower will bring great opportunities for Ocean Man First Nation, including employment and revenue that will provide stability and sustainability for our Band," said Chief Connie Big Eagle, Ocean Man First Nation. "We are proud that this project, which is able to generate clean power, will be known as Iyuhána Solar, which, in Nakotah translates to 'everyone' or 'all of us.' This is derived from our Nakotah belief that everyone and everything is related and therefore we must care for each other." While investment in renewable energy grows across Canada, Saskatchewan's clean power supply mix has predominantly consisted of hydro and wind. This is the first of many planned solar projects in the province; by 2035, SaskPower plans to support approximately 3000 MW of new renewable energy capacity in the region. "This new solar facility will play an important role in our path to net-zero by 2050 or sooner," said Rupen Pandya, SaskPower President and CEO. "We are proud of our ongoing collaboration with Indigenous peoples and the critical role they are playing in the successful expansion of renewable energy in our province." GSI is one of four renewable energy subsidiaries of Libra Group, a privately owned, global business group that encompasses 20 businesses in six sectors, including renewable energy, maritime, aerospace and more. The Group's renewable energy portfolio encompasses approximately 3.5 gigawatts (GW) of projects owned, developed, or pending development in 10 countries, including solar, wind, battery storage, and waste-to energy projects. This is the second partnership with an indigenous community led by a Libra Group subsidiary. "Libra Group is proud of this novel partnership, which has come together through shared values and a commitment to driving economic growth and positive outcomes for communities," said Libra Group's CEO Manos Kouligkas. "Sustainability is core to our global business, and we look forward to continuing to leverage synergies across our six sectors in 60 countries with agility and impact." Last year, GSI acquired Saturn Power Inc.'s solar and battery development portfolios, including its team of seasoned developers and an approximate 1.4-gigawatt (GW) pipeline of early- to late-stage solar and energy storage projects. Today, GSI has a footprint across Canada and in 12 U.S. states. About Greenwood Sustainable Infrastructure Greenwood Sustainable Infrastructure (GSI) is one of the clean energy subsidiaries of Libra Group. GSI is a renewable energy company focused on the development, construction, and operation of distributed generation and utility-scale solar energy and battery storage projects in North America. As of January 2024, the company developed approximately 388 MW DC across 71 renewable energy projects, many of which are still owned or operated by GSI and have an additional project pipeline of 1.6 GW. GSI's seasoned team has a proven track record of investing in power assets and partnering with multiple top-tiered investors. For more information on Greenwood Sustainable Infrastructure (GSI), visit: http://www.greenwoodinfra.com/ About Ocean Man First Nation The Ocean Man First Nation is a Nakota, Cree, and Saulteaux Band Government in southeast Saskatchewan. OMFN is led by Chief Connie Big Eagle & Council and features a population of 565 members. Ocean Man First Nation created a renewable energy company in 2019 called Second Wind Power. The name Second Wind Power reflects Ocean Man First Nation's history of relocating, re-establishing and starting over as a new community since 1989. About Libra Group Libra Group is a privately owned, global business group encompassing 20 businesses predominately focused on aerospace, renewable energy, maritime, real estate, hospitality, and diversified investments. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale.

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