- Press Releases
January 12 (Renewables Now) - Transparent photovoltaics (PV) developer Ubiquitous Energy has recently closed a USD-30-million (EUR 26.4m) Series B funding round led by window and door products maker Andersen Corporation.
Ubiquitous Energy is the developer of the patented UE Power technology, a glass coating that remains almost indistinguishable from traditional windows but harnesses solar energy to generate electricity. It provides a solar power asset that can complement other renewable energy technologies to achieve a larger, cumulative effect. Its output can be used for self-contained, on-board power and smart home functionality, or to offset energy consumption elsewhere, the company explains.
To date, Ubiquitous Energy has raised a total of USD 70 million of funding, including the latest round, which was led by Andersen Corporation alongside Japanese petroleum and metals conglomerate Eneos Holdings Inc (TYO:5020), Safar Partners, Hostplus, Red Cedar Ventures and Riverhorse Investments.
The solar window maker said that the fresh capital allows it to direct resources to continued research and development, manufacturing and product deployment on the path to the commercialisation of its technology. The firm has already started a site selection process for its first high-volume manufacturing line in the US.
"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,” said Jay Lund, chairman and CEO of Andersen Corp.
(USD 1.0 = EUR 0.879)