UbiQD, an advanced materials company, has secured $20 million in Series B funding to propel its quantum dot technology into the mainstream of agriculture and solar industries. This infusion of capital, led by Phoenix Venture Partners and backed by Builders VC, Builders Vision, New Mexico Vintage Fund, and other investors, aims to enhance efficiency and reduce costs in these sectors.
Quantum dots, the nanoscale particles at the heart of UbiQD’s technology, are remarkable for their ability to transport electrons and emit various colors of light when exposed to UV radiation. The size of these particles determines the wavelength of light they emit, with smaller particles producing cooler wavelengths like blue light, and larger ones emitting warmer lengths such as red light. “In the simplest terms, it’s a platform for optimizing light,” explains Hunter McDaniel, founder and CEO of UbiQD. “With quantum dots, you can make any color continuously by changing the size of the particles.”
UbiQD’s journey began in 2014 when McDaniel started the company. Initially, the firm gained recognition for applying quantum dot technology to greenhouse settings with UbiGro, a film embedded with quantum dots that hangs inside greenhouses. This innovation allows sunlight to be converted into longer wavelengths, thereby boosting photosynthesis and plant growth. UbiGro has proven to be a popular product, with global sales indicating a strong market demand.
Beyond UbiGro, UbiQD is integrating its quantum dot technology into greenhouse roofing materials. This move addresses the need for greenhouse growers to replace polyethylene films every three to four years due to sun-induced degradation. By embedding quantum dots into these films, UbiQD offers a durable and cost-effective solution that fits seamlessly into the existing sales cycle.
One of the significant advancements UbiQD has made is the development of a safer and more stable alternative to traditional quantum dot materials like cadmium selenide. Cadmium selenide, a toxic and highly regulated compound, poses environmental and health risks. UbiQD’s alternative replaces cadmium with copper and indium, encased in a zinc sulfide shell. This new material not only enhances stability but also reduces manufacturing costs, making it more accessible for agricultural applications.
The Series B funding will also support UbiQD’s expansion into the solar industry. The company has been developing downconversion products to improve solar cell efficiency, partnering with leading manufacturers like First Solar. By shifting the spectrum of light to optimize solar panel performance, UbiQD’s technology can drive significant improvements in solar energy production. The “economies of scale” achieved through solar applications will also benefit UbiQD’s greenhouse products, allowing for further cost reductions and increased accessibility.
UbiQD’s pilot-scale manufacturing facility is currently in operation, but the company has plans to build a much larger facility in the future. The Series B funding will be instrumental in scaling up manufacturing capabilities, ensuring that UbiQD can meet the growing demand for its innovative products. As the company continues to push the boundaries of quantum dot technology, it is poised to revolutionize both the agriculture and solar industries, making them more efficient and sustainable.
