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Growing Quantum Dot Manufacturer, UbiQD, Named Breakout Labs Portfolio CompanyLOS ALAMOS, N.M., Oct. 16, 2017 /PRNewswire/ -- UbiQD, Inc., a New Mexico-based quantum dot manufacturer, announced today that it has been recognized as one of the newest portfolio companies in Breakout Labs, a fund within the Thiel Foundation that finances and nurtures early-stage science-based companies. As part of its commitment to investing in UbiQD's growth, Breakout Labs has awarded the quantum dot company $350,000 to focus on refining its luminescent solar concentrator technology. In addition to providing capital, Breakout Labs also offers its portfolio companies access to an elite ecosystem of follow-on funders, corporate partners, and resources to drive commercialization. "Research development from scientists-turned-entrepreneurs is often under-supported when it comes to commercialization," said Lindy Fishburne, Executive Director of Breakout Labs. "We want to help fill this void by providing companies like UbiQD with funding and business support." UbiQD, which has developed a new kind of safer, brighter, cost-effective, and more reliable quantum dot, sees the biggest market opportunities in solar-related products, but also provides materials for other applications. Quantum dots ae known for their highly efficient ability to convert one spectrum of light into another. The newest funding from Breakout Labs, which also marks the organization's first investment in the state of New Mexico, will enable UbiQD to specifically focus on developing a greenhouse product. "I would like to offer my sincerest thanks for Breakout Labs' support, which will be transformative for UbiQD," said McDaniel, who will be presenting the company at the Breakout Labs' annual Unboxing event in San Francisco on Oct. 19. "Breakout Labs recognizes our tremendous potential in the agricultural industry and their funding demonstrates a level of confidence and commitment to our success." Immediately prior to the Breakout Labs' funding, UbiQD closed a corporate restructuring, converting from an LLC to a C-corporation on Oct. 1. In August, the company completed the purchase of its 9,000-square-foot headquarters in Los Alamos after it secured financing from Los Alamos County via the Local Economic Development Assistance (LEDA) program. UbiQD is nearing completion of the first phase of its lab space renovations that will enable the company to supply pilot projects, and it now employs 10 full-time individuals. About Breakout Labs About UbiQD, Inc. MEDIA CONTACTS
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