UbiQD Secures Financial Support from State of New Mexico for Next Phase of Expansion into Advanced Energy Applications

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.

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: [email protected]

SOURCE UbiQD, Inc.