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24 Feb 2025
New Mexico startup UbiQD acquires key assets belonging to the University of Washington spin-out.
UbiQD, the Los Alamos, New Mexico startup working on quantum-dot technology for a range of photonics applications, says it has acquired Seattle-based BlueDot Photonics.
A 2019 spin-out from the University of Washington, BlueDot had been developing doped perovskite materials with potential applications in photovoltaics, imaging, and security - an approach to photonic down-conversion that it has labeled “quantum cutting”.
UbiQD said that the deal also gives it exclusive rights to BlueDot's associated intellectual property, which was originally developed at the University of Washington.
The New Mexico firm’s founder and CEO Hunter McDaniel added: “Solar power remains the backbone of the renewable energy transition, but the industry still faces efficiency and cost constraints.
“BlueDot pioneered a transformative approach with quantum cutting - essentially multiplying usable photons to enhance energy capture. By bringing their technology into our portfolio, we're positioned to accelerate next-generation solar materials and drive meaningful efficiency gains at scale.”
First Solar partnership
UbiQD, which has previously worked to exploit the advantages of quantum dot materials in solar windows and vertical farming, pointed out that it has been building a business unit focused specifically on down-conversion products.
In 2023, the company expanded a partnership with First Solar to explore the potential to incorporate fluorescent quantum dot technology in advanced solar modules.
It has also received an Advanced Energy Pilot Program award from the State of New Mexico Economic Development Department, and last year established a collaboration with Los Alamos National Laboratory to explore quantum-enhanced materials for clean energy applications.
BlueDot co-founder and CEO Jared Silvia commented in UbiQD’s release: “Bringing our work to UbiQD is an exciting next step for this technology. Our mission has always been to push the boundaries of solar efficiency, and UbiQD has the expertise, infrastructure, and industry partnerships to bring this to market at scale.
“I'm grateful to my co-founders Daniel Kroupa, Matt Crane, and Daniel Gamelin, our investors, our team members, and supporters who helped drive this innovation forward.”
Spun off from LANL back in 2015, UbiQD has since won a series of grants and innovation prizes for its work to develop quantum dots.
In terms of venture funding, filings with the US Securities and Exchange Commission (SEC) indicate that the company had attracted $5.2 million out of a planned $11 million raise in May 2022, and $5.4 million out of an intended $20 million in June 2024.
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