UbiQD of Los Alamos is one of only five companies selected nationally for the IN2 program. UbiQD will receive up to $250,000 to accelerate innovative commercial buildings technology. Courtesy/UbiQD
- One of only five companies selected nationally for the IN2 program, UbiQD will receive up to $250,000 to accelerate innovative commercial buildings technology
The Wells Fargo Innovation Incubator (IN2), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the National Renewable Energy Laboratory (NREL), has announced that UbiQD, Inc. has been selected as one of five companies to participate in the incubator’s highly selective fourth cohort. UbiQD, a Los Alamos based nanotechnology company, was selected for its innovations that advance the energy efficiency of commercial buildings, which currently account for more than 40 percent of energy usage in the U.S.
UbiQD has developed a safe, cost-effective, and reliable kind of quantum dot that enables high-efficiency solar windows and spectrum-controlled greenhouses. UbiQD joins more than 20 early-stage companies that have received IN2 support to address energy challenges in commercial buildings. As a benefit of participation in the invitation-only program, UbiQD will receive up to $250,000 in non-dilutive funding to test, validate and advance their technologies with a network of experts at NREL’s research facility in Golden, Colo. The program offers later-stage companies, upon successful lab validation, the opportunity to beta test on a Wells Fargo property or with a strategic program partner.
“Our window tints improve energy utilization while simultaneously harvesting sunlight efficiently, and we are excited to join IN2 and benefit from the opportunities to work with both Wells Fargo and NREL,” said Dr. Hunter McDaniel, founder and CEO of UbiQD. “We are honored to have been selected for this prestigious program which leverages previous support we received from investors, the National Science Foundation, and the U.S. Department of Energy.”
Launched in 2014, IN2 is a $30 million program that facilitates the commercialization and adoption of clean energy technologies. Founded initially to address energy challenges in commercial buildings, the program is expanding its focus to include the interconnection of food, energy and water in 2019.
“We are delighted to welcome UbiQD to the IN2 portfolio of companies, who together are developing cutting-edge technologies to improve sustainability in commercial buildings and contributing to IN2’s vision of creating a strong and diverse clean-tech ecosystem,” said Ramsay Huntley, vice president and Clean Technology and Innovation Philanthropy program officer for Wells Fargo. “To date, IN2 has funded 25 early-stage companies who collectively have gone on to raise $114 million in follow-on funding from external sources, and we are all very proud of that.”
“What makes the IN2 experience unique from other programs is that UbiQD can directly access the world-class facilities, equipment and deep expertise that exists at NREL,” said Trish Cozart, IN2 Program Manager at NREL. “UbiQD was an extremely strong applicant, and we felt the program would benefit significantly with their participation.”
For a complete list of IN2 portfolio companies, visit in2ecosystem.com.
UbiQD is a nanotechnology company based in Los Alamos, New Mexico that manufactures high-performance cadmium-free quantum dots and composite materials. The company uniquely focuses on applications that utilize its materials to manipulate sunlight, enabling solar windows and spectrum-controlled greenhouses. Spun out of technology developed at Los Alamos National Laboratory, Massachusetts Institute of Technology, The University of Washington, and Western Washington University, UbiQD envisions a future where quantum dots are ubiquitous in a wide spectrum of applications. For more information, visit UbiQD.com.
About the Wells Fargo Innovation Incubator
The Wells Fargo Innovation Incubator (IN2) is a $30 million clean-technology incubator and platform funded by the Wells Fargo Foundation. Co-administered by and housed at the National Renewable Energy Laboratory (NREL) in Golden, Colorado, IN2’s mission is to speed the path to market for early-stage, clean-technology entrepreneurs. Companies selected for participation in the program receive up to $250,000 in non-dilutive funding from Wells Fargo, technical support and validation from experts at NREL and the Danforth Plant Science Center’s facilities and the opportunity to beta test at a Wells Fargo facility or with a strategic program partner. Launched in 2014 with an initial focus on supporting scalable solutions to reduce the energy impact of commercial buildings, IN2 is expanding its focus in 2018 to support innovation in sectors such as transportation, food systems, energy storage and others with the ultimate goal of fostering smart and connected communities of the future. For more information, visit in2ecosystem.com.