Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Konarka Secures Additional Financing from Lighthouse Capital

Abstract:
To use funds for research laboratory expansion, capital equipment and working capital related to the development of its light-activated power plastic

Konarka Secures Additional Financing from Lighthouse Capital

Lowell, MA | May 17, 2005

Konarka Technologies, Inc., an innovator in developing and commercializing power plastics that convert light to energy, today announced the Company secured up to $7 million in venture debt financing from Lighthouse Capital Partners. Konarka plans to use the funds in the United States and Europe for research laboratory expansion, capital equipment and working capital related to the development of its light-activated power plastic.

"The quality of Konarka's team and the compelling value proposition of its innovative power plastic have positioned the Company to become a leader in making renewable energy mainstream," said Ned Hazen, managing director, Lighthouse Capital Partners. "We have a great deal of confidence in the business Konarka is building and its market potential."

Lighthouse Capital Partners is an independent partnership providing debt-based financing to early-stage technology companies backed by top-tier venture capital firms. Konarka's key investors include New Enterprise Associates, Draper Fisher Jurvetson, Vanguard Ventures, Partech International and Prime New Energy, as well as several domestic and international clean energy funds and corporate partners, ChevronTexaco, Eastman Chemical and Siemens Corporate Technology.

"We are very pleased to have a premier venture debt firm on board, and Lighthouse Capital Partners' involvement demonstrates Konarka's continuing ability to attract tier-one funding," said Howard Berke, chairman and chief executive officer, Konarka. "Lighthouse's financing validates Konarka's business model, as well as our future plans and prospects."

####

About Konarka Technologies:
Konarka builds products that convert light to energy - anywhere. Konarka is the leading developer of polymer photovoltaic products that provide a source of renewable power in a variety of form factors for commercial, industrial, government and consumer applications. Konarka's photovoltaic nanotechnology is focused on delivering lightweight, flexible, scalable and manufacturable products. Konarka has a broad portfolio of patents, technology licenses and an accomplished technical team. Nobel Laureate Professor Alan Heeger (UC Santa Barbara) is a director, co-founder and chief scientist for Konarka. Konarka Technologies is headquartered in Lowell, Mass., U.S.A., with European headquarters in Nuremberg, Germany, and research and development facilities in Austria and Switzerland.

For more information visit www.konarka.com


Contact:
Tracy Wemett
BroadPR
617-868-5031
tracy@broadpr.com

Copyright Konarka Technologies

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Investments/IPO's/Splits

Arrowhead to Present at 2015 RBC Capital Markets' Global Healthcare Conference February 17th, 2015

Iran 1st among Islamic Nations in Scientific Production, Nanotechnology February 16th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Raises an Additional $29 Million (CAD), Closing 2014 Financing at $62 Million (CAD) February 2nd, 2015

Malaysian Nanotechnology Company Nanopac Innovation Ltd. lists on the NSX January 19th, 2015

Announcements

The taming of magnetic vortices: Unified theory for skyrmion-materials March 3rd, 2015

Democratizing synthetic biology: New method makes research cheaper, faster, and more accessible March 3rd, 2015

Pens filled with high-tech inks for do-it-yourself sensors March 3rd, 2015

Black phosphorus is new 'wonder material' for improving optical communication March 3rd, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE