Konarka Acquires Siemens' Photovoltaic Research Activities

LOWELL, Mass., Sept. 7 -- Konarka Technologies Inc. announced today it has acquired Siemens AG's organic photovoltaic research activities.

"This transaction augments Konarka's ability to deliver the first practical forms of solar power that achieve the price and efficiency performance required to be the global market leader in distributed energy," said Howard Berke, chairman and CEO of Konarka."

Konarka said the acquisition also increases its presence in Europe and establishes a footprint in Germany. The company also has R&D labs and operations in Austria and Switzerland. Konarka makes semiconductors that are coated with a light-absorbing dye and used to generate power. The company's investors include Draper Fisher Jurvetson, ChevronTexaco and Eastman Kodak.

"Until now, both Konarka and Siemens had been working independently to harness breakthroughs in materials science and nanotechnology to create efficient, lightweight, flexible polymer-based electronics," Konarka said in a statement. "The new combined effort empowers Konarka with Siemens' intellectual property related to organic photovoltaics and the renowned scientific team led by Christoph Brabec."

Brabec has been named Konarka's director of polymer photovoltaic research, and Thomas Grandke, head of the materials and microsystems department at Siemens Corporate Technology, will join Konarka's Scientific Advisory Council.

For more information, visit: www.konarka.com