Amazon Climate Commitment Fund Leads Investment in Ambient Photonics PV Cell Production Facility

U.S. manufacturer Ambient Photonics has reportedly secured $31 million in Series A funding to build a photovoltaic cell production facility. Amazon.com led the round through its Climate Commitment Fund, with participation from Ecosystem Integrity Fund, Future Shape, and ISquared Capital.
 

Ambient Photonics has developed a unique low-light energy harvesting photovoltaic technology that the company reports can generate three times more power than conventional photovoltaics. Its photovoltaic cells are fabricated using an industrial printing process by which proprietary energy-harvesting molecules are applied to thin, durable glass substrates to create photovoltaic cells of virtually any size and shape.

Matt Peterson, director of Amazon's Climate Pledge Fund, said: "Disposable batteries are not only an inconvenience to consumers, but they are also a serious environmental problem. We are excited to invest in Ambient through the Climate Pledge Fund to help them create innovative solutions that reduce the carbon footprint of battery-powered equipment adoption across industries."

Sasha Brown, Partner at Ecosystem Integrity Fund, said, "We believe Ambient has the potential to develop more sustainable systems in growing global industries, including consumer electronics, smart homes, and the Internet of Things. Ambient's technology provides efficient and viable solutions to provide these devices with clean, renewable energy in a cost-effective manner."

Ambient will also advance its Part II application under the U.S. Department of Energy's (DOE) Title XVII Loan Guarantee Program for $162 million in loan guarantees. The production facility is expected to provide hundreds of local jobs while also reducing Scope 3 emissions.

Tony Fadell, founder of Nest, said. "IoT sensors are everywhere. Each sensor uses replaceable batteries, which end up as toxic waste. Ambient Photonics' revolutionary low-light photovoltaic cells make wireless IoT networks possible without batteries."

Amazon's Climate Commitment Fund, launched with $2 billion in funding from Amazon, aims to support the development of sustainable technologies and services that will enable Amazon and other companies to achieve their goal of net-zero emissions by 2040. Amazon and Global Optimism have teamed up to create an initiative called The Climate Pledge. The plan includes commitments to meet the Paris Agreement 10 years ahead of schedule. Verizon, Reckitt Benckiser (RB), and Infosys also joined the program.

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