Ambient Photonics’ Series A Financing Raises $31 Million

California-based Ambient Photonics announced that the company has raised a $31 million Series A financing, led by Amazon via its Climate Pledge Fund and Ecosystem Integrity Fund (EIF), with Tony Fadell’s Future Shape and I Squared Capital participating. 

The financing will help Ambient establish the largest U.S.-based low-light solar cell production facility in the world. The facility’s fully automated production line and capacity for tens of millions of units annually will allow Ambient to scale its low-cost, high-power-density solar cells to mass market adoption.

Ambient’s first-of-its-kind low-light energy-harvesting photovoltaic (PV) technology generates thrice the power of conventional technology, harvesting energy across the entire light spectrum - including both artificial and natural light. 

Keeping in line with its plans to scale low-light energy harvesting production facilities, the company will also continue to progress its Part II application for a $162 million loan guarantee under the U.S. Department of Energy (DOE) Title XVII Loan Guarantee Program. 

The facilities are estimated to generate jobs for hundreds of locals while contributing to transformative reductions in Scope 3 emissions. These indirect emissions within a company’s supply chain often represent the majority of organizational emissions.

“The future of IoT and connected devices is energy harvesting, and that future requires massive scale,” said Bates Marshall, CEO, Ambient. “This financing empowers us to deliver our industry-leading technology to some of the world's highest-volume IoT device manufacturers with significant decarbonization impact. We’re opening up entirely new possibilities for products that are designed from the ground up from more sustainable energy sources.”