NEWS RELEASE
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.
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"The support for Ubiquity Solar Inc., is being provided through the Commercialization of Sustainable Chemistry Innovation (COMM SCI) fund, which acts as a hub for commercialization of sustainable chemistry and bio-based innovation, providing business and technical support to participating SMEs (Small and Medium Enterprises). COMM SCI was established with support from the Federal Economic Development Agency of Southern Ontario's Investing in Regional Diversification initiative."
For more information please contact:
A.J (Sandy) Marshall
Executive Director,
Bioindustrial Innovation Canada
Tel: 1.519.402.3441
Email: sandym@bincanada.ca
or
Ian MacLellan
President & CEO,
Ubiquity Solar
Tel: 1.519.333.5889 ext. 1001
Email: ian.maclellan@ubiquitysolar.com
Website: www.ubiquitysolar.com
- About Bioindustrial Innovation Canada -
Bioindustrial Innovation Canada (BIC) is a nationally focused not-for-profit organization based in Sarnia, Ontario. The Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) acts as a hub for the commercialization of sustainable chemistry and bio-based innovation, providing businesses and technical support to participating small- and medium-sized enterprises (SMEs) in southern Ontario. COMM SCI was established with support from the Federal Economic Development Agency for Southern Ontario’s (FedDev Ontario) Investing in Regional Diversification initiative with additional support from the Ontario Ministry of Research, Innovation and Science. Bioindustrial Innovation Canada creates jobs and economic value sustainably for Canada. We provide critical strategic investment, advice and services to business developers of clean, green and sustainable technologies. Our expertise in commercialization builds a stronger Canada. For more information, visit http://www.bincanada.ca/