In a move designed to accelerate the development and commercialization of Konarka’s polymer-based
organic photovoltaic (OPV) technologies, the company has said it has
secured $45 million in private capital financing.
“Konarka has aggressive plans to accelerate the development and
commercialization of our polymer-based organic photovoltaic (OPV)
technologies for consumer, commercial, BIPV and electronic
applications,” commented Rick Hess, President and CEO of Konarka. “This
latest round of financing will help to accelerate our plan to bring
Konarka’s organic photovoltaic material, Power Plastic, to market.”
new investor for the company, Pegasus Capital, participated in the
round, as did existing lead investors from prior rounds including
Draper Fisher Jurvetson (DFJ), Asenqua Ventures, New Enterprise
Associates (NEA) and 3i. Other participating current investors include
Vanguard Ventures, Chevron, Massachusetts Green Energy Fund, NGEN
Partners, Angeleno Group and Asenqua Ventures.