Ubiquity solar SECURES $3.1 MILLION CONTRIBUTION FROM SDTC
Waterloo, Ontario, Canada June 23, 2014 – Ubiquity Solar Inc. has secured a commitment from the Government of Canada through Sustainable Development Technology Canada (SDTC), to provide $3,122,445 of funding for its High Performance PV Polysilicon and Ingot Pilot Plant Project. Ubiquity’s goal is to improve the performance and cost effectiveness of photovoltaic (PV) cells using these advanced silicon technologies.
SDTC, a not-for-profit foundation funded by the Government of Canada, helps commercialize Canadian clean technologies, readying them for growth and export markets. With a portfolio of companies under management valued at more than $2.5 billion, SDTC is demonstrating that cleantech is a driver of jobs, productivity and economic prosperity. Ubiquity Solar will receive these funds over a three-year period once a final SDTC funding arrangement has been executed and specific project milestones have been met.
"The investment announced today demonstrates our government's commitment to environmental stewardship and creating high quality jobs in Ontario. Supporting advanced research and technology, our government is investing in Canadian prosperity and a cleaner environment," said Minister Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario.
Ubiquity Solar is leading a world class consortium that includes: University of Waterloo Centre for Advanced PV Devices and Systems, University of Toronto, McMaster University, Fraunhofer Centre for Silicon Photovoltaics CSP, ECN Solar Energy Silicon Photovoltaics, Si Con, Core Business Developers LLC, Jerry Olson Consulting, and DJ Met Consulting.
Ian MacLellan, President & CEO Ubiquity Solar said, “We are extremely pleased with the $3.1M of support from SDTC to help fund our $10.9 million demonstration pilot plant project. This project leverages Canada's strengths in natural resources, advanced materials processing and automation. It lays the foundation for a 10,000 metric tonnes per annum integrated production plant that will produce over 2GW of product per year. We expect to create over 500 export focused jobs over the next five years in Canada.
Our main products will be high-performance silicon bricks and wafers. These products will allow our customers to improve the performance of their PV cells without a major change in their process. It will also improve the cost effectiveness of solar with a lower installed cost.
This project will help the cleantech industry grow in Canada while providing cleaner electricity worldwide. We estimate that the PV modules produced from our product will reduce GHG emissions by a total of 23,800,000 tonnes, of which 7,890,000 tonnes is due to our specific technology. We expect that as the shift to clean distributed solar energy accelerates, PV cells using our technology will become ubiquitous."
About Ubiquity Solar
Ubiquity Solar Inc. is a private company led by a team of semiconductor and PV industry veterans focused on providing the highest performance silicon materials and related services. The Company's first products are focused on the PV market. According to Cleanedge.com the PV market grew from US$2.5B in 2000 to US$91.3B in 2013.
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.