Utica Leaseco, LLC (Utica), an asset-based specialty finance company and Ubiquity Solar Inc. (Ubiquity), a photovoltaic (PV) technology company, are pleased to announce the execution of a definitive agreement, whereby Ubiquity has procured from Utica rights to the intellectual property, R and D, production, inventory and other assets (the GaAs Assets) previously part of Alta Devices (Alta) of Sunnyvale, CA. As part of the parties' transaction, Utica will acquire certain warrants to purchase capital stock of Ubiquity.

Ubiquity Solar intends to relocate the GaAs Assets to the eastern USA to be close to Ubiquity's Canadian operations. Ubiquity's site-selection process is based on proximity to Ubiquity Canada, state incentives and access to a skilled workforce.

Ubiquity plans to combine the GaAs Assets with its silicon-based PV wafer, cell and module operation. The operation will produce both silicon (Si) and gallium arsenide (GaAs) PV cells and modules for a wide range of high-performance applications that require higher quality, solar energy conversion efficiency, and performance. Ubiquity's high quality silicon division will remain in Canada.

"We are very pleased to be able to add this significant GaAs-PV technology and manufacturing capacity to our Si-PV technology", said Ian MacLellan, CEO and President of Ubiquity.

"Ubiquity's current Si-PV technology is focused on the high efficiency residential, commercial and utility scale PV markets. This transaction will allow Ubiquity to enter the flight-based GaAs-PV markets for applications such as low earth orbit (LEO) satellites, high altitude long endurance (HALE) unmanned aircraft for delivering 5G over wide areas and drones.

Long-term, based on research going back over a decade with university research partners, Ubiquity is investigating SiGaAs multi-junction PV technology for the above markets and the emerging electric vehicle integrated PV (VIPV) market.

David Levy, CEO of Utica, commented that "we are very pleased to have worked closely with Ubiquity's management team on this transaction. We are looking forward to a mutually rewarding relationship with Ubiquity and supporting their vision in this very important endeavor."

Ubiquity Solar develops high performance, advanced PV silicon materials, cells and modules. Its silicon technology can also be used in the Li-Ion batteries, electronic display and semiconductor industries. It is also developing ultra-high efficiency GaAs and SiGaAs PV technology for the Flight Integrated PV (FIPV), Building Integrated PV (BIPV) and electric vehicle integrated PV (VIPV) markets.

Related Links
Ubiquity Solar
All About Solar Energy at SolarDaily.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Ecoppia Signed Another Significant Project Of 450MW With Solar Leader Azure Power
Herzeliya, Israel (SPX) Dec 16, 2020
Ecoppia, a pioneer in robotic solutions for photovoltaic solar, reports yet another significant project of 450MW signed in October with Azure Power, the renowned solar energy player. The project is now reaching advanced stages, scheduled to go live on the beginning of Q1 2021. Despite the ongoing global pandemic, Ecoppia secured new projects for more than 10GW in the last four quarters, maintaining a compound annual growth rate (CAGR) of more than 280% in the last six years. Without any phys ... read more