Ambient Invited to Phase 2 of $162M DOE Loan Program

Ambient Photonics Invited to Submit Part II Application for Proposed $162 Million From DOE’s Title XVII Loan Guarantee Program

Mill Valley, Calif., December 21, 2021 — Ambient Photonics today announced that it has been invited to submit a Part II Application for a loan guarantee under the U.S. Department of Energy (DOE) Title XVII Loan Guarantee Program. The proposed $162 million loan guarantee from the DOE would support the development of a large-scale U.S.-based low-light solar cell production facility. With a fully automated production line and capacity for tens of millions of units per year, Ambient’s facility will be the largest low-light energy harvesting technology factory in the world. Construction and operation will create hundreds of jobs for U.S. workers and contribute to transformative reduction of greenhouse gas emissions.

“Energy harvesting is one of the most significant technological advancements of our lifetime,” said Ambient CEO Bates Marshall. “Ambient is producing the most advanced energy harvesting technology in the world and developing a high-volume manufacturing project in the U.S. would demonstrate America’s leadership in this technology of the future.”

Ambient’s customers are many of the largest IoT and smart home device companies in the world who integrate Ambient cells into their connected devices to eliminate the costs, inconveniences and waste associated with replaceable batteries. Ambient technology generates as much as three times more power than traditional amorphous silicon cells and is the only energy harvesting technology able to harness photons across the entire light spectrum, yielding more than 90 percent photon conversion efficiency in low-light conditions.

Employing a breakthrough industrial solar printing process, Ambient’s unique manufacturing approach efficiently and cost effectively produces made-to-order solar photovoltaic cells of any size, deployable in electronics with virtually any shape or structure. Ambient’s printing process coats its proprietary chemistry on thin, durable glass substrates to allow for rapid scale commercialization. The planned Ambient facility is estimated to eliminate tens of thousands of metric tons of greenhouse gas emissions annually. In addition to eliminating the waste of disposable batteries, Ambient technology also reduces the carbon footprint of battery-powered devices by up to 80 percent.

About Ambient Photonics

Ambient Photonics was founded in 2019 in California to bring low light energy harvesting technology to mass scale. The company’s low light solar PV cells deliver ground-breaking power density from a broader spectrum of ambient light, inspiring a new era in connected device form and function. Ambient works with leading global smart home and IoT device manufacturers on embedded solar cells to deliver superior design possibilities, performance, sustainability and consumer convenience. Explore endless power at: ambientphotonics.com.

DOE Loan Guarantee

DOE’s invitation to submit a Part II application is not an assurance that DOE will invite an applicant into the due diligence and term sheet negotiation process, that DOE will offer a term sheet to an applicant, that DOE will issue a loan guarantee, or that the terms and conditions of a loan guarantee will be consistent with terms proposed by an applicant. The foregoing matters are wholly dependent on the results of DOE review and evaluation of a Part II Application, and DOE’s determination whether to proceed.