• Print

Konarka procures $5 million loan to equip New Bedford facility

Konarka’s New Bedford, Massachusetts manufacturing facility, opened in October 2008, has received a boost for its future manufacturing plans with a $5 million long-term loan. The organic photovoltaics developer secured the loan from a funding collaboration between the Emerging Technology Fund of Massachusetts Development Finance Agency and the Massachusetts Renewable Energy Trust’s Business Expansion Initiative.

The funding will be put to good use in financing the manufacturing, equipment capacity expansion and, most importantly for some, the creation of new jobs. Konarka kept on Polaroid’s technology and process engineering teams on opening and has said that it expects to hire an additional 100 employees over the next few years.

“This financing further demonstrates the State’s commitment toward broad-scale solar adoption and green job creation in the area of clean energy,” said Howard Berke, executive Chairman and co-founder of Konarka. “We appreciate the continued support from the collaborative effort of the Renewable Energy Trust and the Massachusetts Development Finance Agency, as we utilize the funds for manufacturing plant and equipment capacity expansion.”

Publications

  • Photovoltaics International 27th Edition

    Now that the PV industry has unquestionably entered a new growth phase, all eyes are on which technologies will win through into the mainstream of PV manufacturing. PERC, n-type, p-type bifacial, heterojunction – all have become familiar terms in the ever-growing constellation of solar cell technologies. The question is which will offer manufacturers what they are looking for in improving efficiencies and cutting costs.

  • Manufacturing The Solar Future: The 2014 Production Annual

    Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.

Partners

Acknowledgements

Solar Media

Newsletter

Subscribe
We won't share your details - promise!