Ubiquitous Energy, the Silicon Valley-based energy company announced this Thursday it secured an $8 million funding from ENEOS Holdings. Funds will help the company on its go-to-market strategy and production ramp up efforts.
Firstly, the funding comes from ENEOS, one of the most prominent and comprehensive energy, resources, and materials companies in Asia.
Secondly, Funding represents an initial close of Ubiquitous Energy’s Series B financing round; which intends to send the companies top-notch technologies further into the U.S. market and abroad.
Thirdly, there’s a strategic alignment between the two companies. On the one hand, Ubiquitous Energy focuses on developing new technologies to reduce humanity’s carbon footprint; particularly, by seamlessly integrating solar technology into everyday products and surfaces.
In fact, the company is the world leader in truly transparent photovoltaic technology. It’s UE Power technology is the world’s only truly transparent solar product; which is intended to harvest solar energy from visible surfaces like windows, and to be installed on window glasses to provide electricity to buildings and homes.
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Ubiquitous Energy to expand its leadership in truly transparent photovoltaics
On the other hand, ENEOS has a portfolio that reduces carbon dioxide emissions; and has begun investing substantial resources behind their smart city and renewable energy strategies. Consequently, the partnership and the secured investment, from ENEOS to Ubiquitous, intends to pioneer accessible low-carbon and renewable technologies for a new society.
Moreover, bases in Japan, ENEOS Holdings is a petroleum, oil & gas exploration, and metals conglomerate; listed on the first section of Tokyo Stock Exchange. It has engaged on businesses not only in oil; but also, natural gas, copper and other non-ferrous metals; also chemicals, recycling, electricity, and hydrogen.
Consequently, for Ubiquitous Energy, currently producing its highly transparent, efficient solar cells and windows in its production facility in Silicon Valley, the partnership shapes the company’s future.
Finally, Susan Stone, UE CEO, said. We are very pleased to announce our partnership with ENEOS. 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.”