Utica Leaseco accepts Ubiquity Solar getting civil liberties to Alta Devices properties

• Utica Leaseco, LLC (Utica), an asset-based specialty finance business as well as Ubiquity Solar Inc. (Ubiquity), a photovoltaic or pv (PV) modern technology company, delight in to reveal the implementation of a conclusive agreement, whereby Ubiquity has actually acquired from Utica legal rights to the intellectual property, R as well as D, manufacturing, stock as well as various other properties (the GaAs Assets) previously part of Alta Devices (Alta) of Sunnyvale, CA. As part of the parties' purchase, Utica will obtain specific warrants to purchase capital stock of Ubiquity.

Ubiquity Solar means to relocate the GaAs Assets to the eastern USA to be close to Ubiquity's Canadian procedures. Ubiquity's site-selection procedure is based upon proximity to Ubiquity Canada, state rewards and also accessibility to a proficient workforce.

Ubiquity plans to integrate the GaAs Assets with its silicon-based PV wafer, cell as well as module procedure. The procedure will produce both silicon (Si) as well as gallium arsenide (GaAs) PV cells as well as modules for a wide variety of high-performance applications that require higher quality, solar power conversion performance, as well as efficiency. Ubiquity's premium quality silicon department will continue to be in Canada.

" We are really happy to be able to add this considerable GaAs-PV modern technology as well as manufacturing capacity to our Si-PV innovation", said Ian MacLellan, CEO as well as President of Ubiquity.

" Ubiquity's current Si-PV technology is focused on the high performance household, business and utility scale PV markets. This purchase will certainly enable Ubiquity to get in the flight-based GaAs-PV markets for applications such as low earth orbit (LEO) satellites, high altitude long endurance (HALE) unmanned airplane for delivering 5G over wide locations and also drones.

Lasting, based upon study going back over a decade with college study partners, Ubiquity is exploring SiGaAs multi-junction PV technology for the above markets and also the arising electrical vehicle incorporated PV (VIPV) market.

David Levy, CEO of Utica, commented that "we are very pleased to have functioned carefully with Ubiquity's administration group on this transaction. We are eagerly anticipating a mutually fulfilling connection with Ubiquity and also supporting their vision in this very essential endeavor."

Ubiquity Solar establishes high performance, advanced PV silicon products, cells and also modules. Its silicon innovation can likewise be made use of in the Li-Ion batteries, digital screen and semiconductor markets. It is additionally creating ultra-high performance GaAs as well as SiGaAs PV innovation for the Flight Integrated PV (FIPV), Building Integrated PV (BIPV) and also electric lorry integrated PV (VIPV) markets.