Clean Energy Funds Invest in Konarka

LOWELL, Mass., Sept. 28 -- Konarka Technologies Inc., a maker of polymer photovoltaic products that convert light to energy, announced today that the Massachusetts Green Energy Fund and California-based Angeleno Group, a private equity firm focused on investing in energy technologies, have invested an undisclosed amount in its Series C funding round.
"The Green Energy Fund plays a key role in helping Massachusetts-based companies bring important new renewable energy technologies to market," said William Osborn, managing director of Commons Capital, who manages the fund for the Massachusetts Technology Collaborative, the state's development agency for renewable energy and technological innovation.
Konarka's products provide a source of renewable power in a variety of form factors for commercial, industrial, government and consumer applications. Nobel Laureate Alan Heeger, a professor at the University of California at Santa Barbara, is a chief scientist for Konarka, and Michael Graetzel (Ecole Polytechnique Federale de Lausanne) is a senior scientific advisor. Konarka is based in Lowell, Mass, with research and development subsidiaries in Austria, Germany and Switzerland.
Daniel McGahn, Konarka's executive vice president and chief marketing officer, will discuss applying photovoltaic nanotechnology to renewable energy solutions at Technology Review’s Emerging Technologies Conference, being held this week at the Massachusetts Institute of Technology (MIT) in Cambridge, Mass. McGahn will participate in a panel discussion, "Nanotech and Energy," Wednesday at 2:15 p.m.
For more information, visit: www.konarka.com