Posted March 16, 2019 15:10:50 Australian tech university Ascent Solar Technologies has launched a $500,000 fund aimed at funding the development of wearable solar technologies that could help the global energy sector meet its climate targets.
Ascent, which was founded by two Australian entrepreneurs, former Facebook CEO Mark Zuckerberg and venture capitalist Peter Thiel, has announced it has launched the first of a series of funds in an attempt to fund the development and deployment of the first fully wearable solar-powered devices that will be deployed across the globe.
The fund will be administered by Ascent’s research arm, which will also be responsible for managing the funds.
The fund’s initial investment is in the range of $500k, but Ascent is also targeting an initial $1bn to $2bn in funding.
The company said its vision is to create a device that can be worn around the body to help monitor and control solar activity.
The first wearable solar devices will be launched in the coming months, and will be developed in partnership with a number of major global technology companies including Google, Apple and Microsoft, the company said.
As far as Ascent knows, the first wearable device will be a wrist-worn solar monitor that will measure the amount of sunlight that falls on it, as well as provide users with insights into their energy usage.
In the coming weeks, the firm is also aiming to bring its wearable solar device to market, and its plans include developing a range of other solar-smart wearable products that could be used in commercial and industrial settings, as it attempts to deliver the world’s first wearable energy sensor.
As the technology evolves, Ascent said it hopes to launch a range that will cover all industries, including healthcare, education and other sectors.
“We want to make the most of the solar environment to create the best wearable solar products that can help meet the global climate targets,” said the company’s managing director of technology, Sam O’Reilly.
“Our vision is that a wearable solar energy sensor that can measure and measure how much sunlight is hitting your skin will be on every wrist.”
This is the first step to helping us to meet our carbon emission targets, and to help our economy meet its targets to help meet its global climate goals.
“The company’s chief executive, Peter Thiel said the technology is “exciting” and has the potential to transform the way energy is used in the world.”
It’s exciting to see the world taking notice of the potential of this technology,” he said.”
In the years ahead, we are seeing more and more companies working to advance wearable solar sensors and the impact that wearable solar has on the world.
“Ascent said wearable solar panels will be the first to be mass-produced, with its devices being made in the next five to 10 years.
It said its technology is already being used in Australia, where it has its headquarters, and the US and other markets.
In a press release, the fund’s director of strategy and corporate development, Michael O’Brien, said the fund is aiming to invest in the industry through an “accelerated fund” that will help companies develop and launch their own products, and also invest in research and development.”
As the fund matures, we will be able to take an interest in companies that are developing and building wearable solar solutions that are useful to the energy sector, and help build up our fund.”