The quantum dot leader was selected to receive
$615,000 for capital investments as
part of the Advanced Energy Award Pilot Program and $307,000 for training 10 new hires from
the Job Training Incentive Program
LOS
ALAMOS, N.M., May 13, 2024
/PRNewswire/ -- UbiQD, Inc., the New
Mexico-based leader in quantum dot (QD) technology and
manufacturing, and the New Mexico Economic Development Department
(NMEDD) announced today its dual triumph at the New Mexico
Advanced Energy Award Pilot Program. Building on its recent
successes, the company secured a total of $615,000 in
funding, comprised of $565,000 from
NMEDD alongside a $50,000 bonus award
for delivering the best pitch.
"We are establishing a new vector in the
solar industry supply chain here in the Land of Enchantment"
The New Mexico Advanced Energy Award (NMAEA) Pilot Program
is a state-funded initiative to bolster advanced energy innovation
and commercialization among New
Mexico's small businesses. It awards non-dilutive funding to
projects with strong potential for growth, aiming to support the
retention and expansion of economic-base businesses, create
jobs, and develop the state's tax base. 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 an 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, 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 strategic investments will focus on scaling up UbiQD's Nobel
Prize-winning quantum dot (QD) technology as optical additives for
polymers that optimize the spectral quality of sunlight for food
and energy applications.
About UbiQD, Inc.
UbiQD® (pronounced 'ubiquity') is a global leader in quantum dot
manufacturing and technology. Founded in 2014, the company is
powering product innovation in agriculture, clean energy, and
security. Our quantum dots enable products that harness the power
of color and light, and our greenhouse technology, UbiGro®, uses
fluorescence to create a more optimal greenhouse spectrum for
crops. See the UbiGro Cover promo video here. Headquartered in
Los Alamos, New Mexico, UbiQD is
licensing technology developed at leading research institutions,
including Los Alamos National Laboratory and M.I.T. To learn more,
please visit https://ubiqd.com and https://ubigro.com.
About New Mexico Economic Development Department
EDD's mission is to improve the lives of New Mexico families by increasing economic
opportunities and providing a place for businesses to thrive. EDD's
programs contribute directly to this mission by training our
workforce, providing infrastructure that supports business growth,
and helping every community create a thriving economy.
CONTACT: info@ubiqd.com
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SOURCE UbiQD, Inc.