UbiQD and First Solar Establish Long-Term Quantum Dot Supply Agreement

Rhea-AI Summary

First Solar (NASDAQ: FSLR) has entered into an exclusive, multi-year quantum dot (QD) supply agreement with UbiQD, a quantum dot nanotechnology leader. The partnership aims to incorporate QD technology into First Solar's thin film bifacial photovoltaic solar panels to enhance performance.

The agreement could see UbiQD's production scale to over 100 metric tons per year. The collaboration builds on their 2023 joint development partnership and comes as U.S. power generation demand grows from data centers, AI, and manufacturing. UbiQD's quantum dot technology can more than double the bifacial quantum efficiency of light conversion for specific wavelengths in solar panels.

This follows UbiQD's recent $20M Series B fundraise in April 2025, which will support building one of the world's highest volume QD manufacturing facilities in New Mexico.

Positive

• First major quantum dot supply agreement outside the display industry
• Technology can more than double bifacial quantum efficiency for specific wavelengths
• Potential for UbiQD production to exceed 100 metric tons annually
• Partnership strengthens U.S. domestic solar manufacturing capabilities

Negative

• Actual performance improvements in real-world conditions yet to be demonstrated
• Manufacturing facility still needs to be built to meet production demands

Insights

Solar Technology Analyst

First Solar's exclusive deal with UbiQD for quantum dot technology could significantly enhance their solar panel efficiency and market competitiveness.

This multi-year exclusive supply agreement between First Solar and quantum dot pioneer UbiQD represents a significant technological advancement for FSLR's thin film solar modules. The integration of quantum dots into solar panel encapsulation has demonstrated the ability to more than double the bifacial quantum efficiency for specific wavelengths, which directly addresses a critical competitive factor in the utility-scale solar market where efficiency improvements translate to better economics.

The technology's potential impact is substantial - quantum dots can optimize the solar spectrum utilization, essentially allowing panels to convert more of the available light into electricity. For First Solar specifically, this provides a technological differentiation at a time when global competition in solar manufacturing has intensified dramatically. The CTO's statement that "even incremental gains in bifaciality translate into significant real-world impact on energy yield" underscores the material importance of this development for large-scale solar deployments.

Most notably, this agreement could support First Solar's positioning in the rapidly expanding U.S. market for power generation, particularly as demand surges from data centers, AI applications, and manufacturing. The exclusive nature of the supply agreement suggests First Solar will have unique access to this performance-enhancing technology, potentially creating a competitive moat against other manufacturers. With UbiQD planning production capacity exceeding 100 metric tons annually, this signals the integration will move beyond R&D into large-scale commercial deployment.

Additionally, the companies expanded their photovoltaic module R&D collaboration focused on optimizing performance of utility-scale solar

LOS ALAMOS, N.M., July 9, 2025 /PRNewswire/ -- UbiQD^®, a global leader in quantum dot (QD) nanotechnology, announced today that it has entered into an exclusive, multi-year agreement to supply its proprietary fluorescent QD technology to First Solar, Inc. (NASDAQ: FSLR). The agreement paves the way for the incorporation of QD technology into First Solar's thin film bifacial photovoltaic (PV) solar panels.

"A turning point for the quantum dot industry with this first high volume supply agreement outside display." - UbiQD CEO

The supply agreement is expected to enable the early adoption of QD in thin film modules, which has the potential for UbiQD to grow to over 100 metric tons of production per year. The two companies previously announced a joint development collaboration in 2023, the results of which have supported the new supply agreement and expanded R&D collaboration announced today.

This collaboration between two U.S.-based companies comes as the country seeks to rapidly expand competitive power generation capacity to serve demand from data centers, artificial intelligence (AI), and manufacturing.

"This is a turning point for the quantum dot industry with this first high volume QD supply agreement outside of display," said Hunter McDaniel, PhD, founder and CEO of UbiQD. "This partnership showcases how U.S. innovation and manufacturing can deliver differentiated performance especially at a time when making breakthroughs in efficiency and materials is more vital than ever. First Solar has been an excellent partner, and together we've demonstrated not just performance benefits, but also the cost-effectiveness and scalability of our materials for solar spectrum optimization."

Breakthrough Technology Momentum for US-Manufacturing and Thin-Film Solar Modules

UbiQD's core proprietary quantum dot technology was originally developed at U.S.-based research institutions, Los Alamos National Laboratory and M.I.T. When incorporated into solar panel encapsulation, QDs can more than double the bifacial quantum efficiency of light conversion for specific wavelengths/colors — a critical edge as solar manufacturers compete globally on performance and price.

"At utility-scale, even incremental gains in bifaciality translate into significant real-world impact on energy yield," said Markus Gloeckler, chief technology officer, First Solar. "We're excited about the potential for quantum dot technology to contribute meaningful gains to the performance of our bifacial modules."

This momentum represents as a fast follow to the New Mexico-based company's $20M Series B fundraise announced in April 2025, which is enabling UbiQD's plans over the next year to build one of the highest volume QD manufacturing facilities in the world, in New Mexico in the coming year. The initiative will cement UbiQD's position as the global leader in quantum technology, and bolster domestic production capacity for this critical nano materials technology.

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. UbiQD's quantum dots enable products that harness the power of color and light, and their greenhouse technology, UbiGro^®, uses fluorescence to create a more optimal greenhouse spectrum for crops. 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.

CONTACT: info@ubiqd.com 

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SOURCE UbiQD, Inc.

FAQ

What is the partnership between First Solar (FSLR) and UbiQD?

First Solar has entered into an exclusive, multi-year agreement with UbiQD to supply quantum dot technology for their thin film bifacial photovoltaic solar panels.

How will quantum dots improve First Solar's solar panels?

UbiQD's quantum dots can more than double the bifacial quantum efficiency of light conversion for specific wavelengths when incorporated into solar panel encapsulation.

What is UbiQD's production capacity under the First Solar agreement?

The agreement has the potential for UbiQD to grow its production to over 100 metric tons per year.

How much did UbiQD raise in their Series B funding?

UbiQD raised $20 million in Series B funding in April 2025 to support building one of the world's highest volume QD manufacturing facilities in New Mexico.

Where will UbiQD manufacture quantum dots for First Solar?

UbiQD plans to build one of the world's highest volume quantum dot manufacturing facilities in New Mexico in the coming year.