Renewable

March 19 (Renewables Now) - US transparent photovoltaics (PVs) maker Ubiquitous Energy said Thursday it has landed a strategic investment from Japanese petroleum and metals conglomerate Eneos Holdings Inc (TYO:5020) that will help it bring its window products to market in the US and abroad.

Eneos' USD 8 million (EUR 6.7m) equity investment marks an initial close of the US firm's Series B financing round. It will aid Ubiquitous Energy's go-to-market strategy and production efforts.

Ubiquitous Energy, a spin-out of Massachusetts Institute of Technology (MIT), has a production facility in Silicon Valley for its transparent solar cells and windows. It describes its UE Power technology as the only truly transparent solar product in the world.

According to the announcement, partnering with Eneos, which has started making substantial investments in its renewable energy strategies, offers strategic alignment and synergy.

"They share our commitment to powering the buildings of the future with renewable energy and we look forward to a long and fruitful partnership with the ENEOS team," said Ubiquitous Energy chief executive Susan Stone.

(USD 1 = EUR 0.841)

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