California — Ubiquitous Energy announced it 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.
The 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.
“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.
“Ubiquitous Energy’s passionate team has created a next-generation technology that’s effective, affordable, and beautifully designed,” said Yaz Yazaki, ENEOS executive officer.