SARNIA, Ontario - Bioindustrial Innovation Canada (BIC) through the Sustainable Chemistry Alliance Investment Fund (SCA Fund) are pleased to announce the investment in Ubiquity Solar Inc. BIC/SCA’s investment in Ubiquity Solar will help the company secure a pilot plant that is to be located at TransAlta’s Bluewater Energy Park in Sarnia, ON.
BIC has invested a total of $500,000 in tranches to Ubiquity Solar Inc. While another source of funding came from Sustainable Development Technology Canada (SDTC) that has provided additional project funding. For the pilot plant designs, Ubiquity has partnered with Zeton Inc. A world leader in design and production of lab scale, pilot plant, demonstration scale and small modular plants.
Led by President & CEO Ian MacLellan, Ubiquity Solar Inc. has developed a low cost alternative to manufacturing high performance, advanced silicon materials used in the photovoltaic (PV) and semiconductor industry. Initially targeting the PV market, Ubiquity’s high-performance PV materials present a unique value proposition for customers– higher quality PV wafers that achieve higher cell efficiency.
“We are very pleased to have the financial commitment from the SCA Fund. Their strategic support as the lead investor for our Series B financing has already led to additional investment,” says Ian MacLellan. “This will allow us to go to the next phase in our project to produce industry leading high performance silicon wafers for the solar industry.”
Ubiquity Solar is currently posted on the TSX Private Markets and is currently engaged in a Series B funding round.
“Bioindustrial Innovation Canada is very excited about its investment in Ubiquity,” says Sandy Marshall. “Their technology is potentially disruptive and we look forward to working with Ubiquity to execute their business plan and support their success.”
The investment in Ubiquity Solar Inc. is consistent with BIC’s mandate to provide strategic investment while creating jobs and economic value sustainably for Canada.