UbiQD awarded $615,000 for expansion
US quantum dot firm gets funding to expand its solar energy initiatives in New Mexico
UbiQD, Inc., the New Mexico-based quantum dot (QD) company, has secured $615,000 in funding, comprised of $565,000 from the New Mexico Economic Development Department (NMEDD) alongside a $50,000 bonus award for delivering the best pitch at the New Mexico Advanced Energy Award Pilot Program.
The New Mexico Advanced Energy Award (NMAEA) Pilot Program is a state-funded initiative to bolster advanced energy innovation and commercialisation among New Mexico's small businesses. The competitive program rewards selected businesses with significant funding to help turn innovative ideas into practical solutions. The company was also awarded support on May 10 from the New Mexico Job Training Incentive Program (JTIP) to train 10 new hires for a approved sum of $307,000.
“We are grateful for the state’s continued support of our growth, enabling us to double down on establishing a new vector in the solar industry supply chain here in the Land of Enchantment,” said Hunter McDaniel (pictured above), UbiQD founder and CEO. “New Mexico is quickly becoming a national leader in the advanced energy economy, and I am excited to be part of that story.”
UbiQD will use the funding to enhance and expand its solar energy initiatives in New Mexico. These investments will focus on scaling up UbiQD's quantum dot (QD) technology as optical additives for polymers that optimise the spectral quality of sunlight for food and energy applications.
