The Verte OZ Fund invests in Uplift Solar to support development of power electronics for solar panels that improve power production and reduce costs

COLLEGE PARK, Md., Feb. 9, 2022 /PRNewswire-PRWeb/ -- The Verte OZ Fund, Inc. (College Park, Maryland) is pleased to announce an investment in Uplift Solar Corp. (Las Vegas, Nevada). Uplift Solar is developing power electronics that can be embedded in solar panels to improve power production while reducing costs. The investment will support Uplift Solar as they expand their team and get to revenue. Currently, they are working with a strategic partner, Merlin Solar (San Jose, CA), to develop lower-power, waterproof panels for transportation and military customers.

Founded in 2019, Uplift Solar is developing a circuit component within solar panels that optimizes power usage, improves power production under shade and snow, and saves costs over the long term. Their technology will allow expanded applications of solar energy in both residential and commercial settings, including transportation, military, marine, and building skin applications. Thus far, the team has won $230,000 in awards from the American Made Challenge and Cleantech Open to refine their technical processes, begin sales and marketing, and perform additional research and development.

"Investors like Verte are the true drivers of the green economy, seeing the possibilities of emerging technologies and building an investment portfolio that ensures a tomorrow and a day after tomorrow for people and planet," said Lauren Rosenblatt, General Counsel and Chief Operating Officer of Uplift Solar. Darius Roberts, Founder and Chief Executive Officer, added, "We were drawn to Verte's know-how and capacity to help us build our business, so that our power electronics technology can in turn drive a whole next generation of innovations in renewable energy."

"Verte OZ is pleased to add Uplift Solar to our portfolio of companies that promote climate responsibility and clean energy," said Dr. Leonard Mills, Chief Executive Officer of the Verte OZ Fund. "We are looking forward as Uplift Solar expands the use of solar energy to new markets, and Verte will be exploring synergies with our other cleantech companies."

About Uplift Solar Corp.
Uplift Solar is a seed-stage company developing power electronics that can be embedded in solar panels to optimize power usage, improve power production, and reduce costs, while allowing expanded applications of solar energy in both residential and commercial settings. Uplift Solar is in a Qualified Opportunity Zone in Las Vegas, Nevada.

About Verte OZ Fund, Inc.
The Verte OZ Fund is a venture capital fund combined with the tax benefits of Opportunity Zone (OZ) investments. Verte OZ has a current portfolio of 12 high-growth, qualified OZ businesses. Due to the higher-growth potential in venture capital, a VC-OZ strategy leads to higher expected returns and exit multiples, greater capital gains tax savings, increased diversification, and a larger impact compared to a real estate OZ strategy. Verte OZ's specific investment strategy is manifested in the high-growth companies in which it has already invested. These companies' industries include robotics, data storage, electric vehicles, medical devices, logistics, software, renewable energy, and other technologies. The objectives of the Verte OZ Fund are to provide attractive returns for investors, generate measurable economic impact on OZ communities, and support our portfolio companies in capital raising, strategic advice, and business development.

Media Contact

Nao J. Gamo, PI Analytics, 1 6173190394, [email protected]

SOURCE Verte OZ Fund, Inc.