Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Konarka Announces Strategic Collaboration and $45 Million Investment from Total

Abstract:


Total, One of the World's Major Integrated Oil and Gas Companies, and First Rank Player in Chemicals, Aims to Grow Photovoltaic Thin Film Business through R&D, Collaboration with Konarka

Konarka Announces Strategic Collaboration and $45 Million Investment from Total

Lowell, MA | Posted on December 15th, 2008

Konarka Technologies, Inc., an innovator in development and commercialization of Power Plastic®, a material that converts light to energy, today announced the company has signed bilateral R&D and cooperation agreements with Total, one of the largest publicly-traded integrated international oil and gas companies in the world. Konarka has secured $45 million in funding and Total will become the leading shareholder with its stake being slightly less than 20%. Konarka will work on developing new components for their products with Total's chemical subsidiaries - Atotech, Bostik, Hutchinson, Sartomer and Total Petrochemicals USA. Already present in solar energy through its interest in Photovoltech and Tenesol, Total intends to step up its crystalline silicon-based cell production. At the same time, it aims to grow in the thin film segment; which Konarka will help it to do.

"This is a very substantial and significant investment from a major global energy corporation," commented Howard Berke, executive chairman and co-founder of Konarka. "This strategic alignment will give Konarka access to a new strength of resources, assets and operations from around the world. Through the agreements, Konarka will be very instrumental in helping Total to secure its future in solar energy by facilitating the growth of its solar thin film segment of the company's renewable energy business."

Following the transaction, Philippe Boisseau, president, Total Gas & Power, stated: "This investment positions Total strategically to secure the future of solar energy while expanding its technological portfolio."

"We look forward to working with Total's five chemical subsidiaries on technical collaboration, as well as efficient operational procedures," commented Rick Hess, president and CEO at Konarka. "Active in the area of solar energy for the past 20 years, Total also brings extensive expertise in carbon chemistry. The collaboration between the two companies will advance the deployment of solar power for more cost-efficient, renewable energy around the globe."

Total is one of the world's major oil and gas groups with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry - exploration and production of oil and natural gas, refining and marketing, gas and power and trading. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals.

####

About Konarka Technologies, Inc.
Konarka develops and manufactures solar plastic films that convert light to energy – anywhere. As the leading developer of polymer-based, organic photovoltaic (OPV) technology that provide a source of renewable power in a variety of form factors, Konarka has a broad portfolio of patents, technology licenses and an accomplished technical, scientific and manufacturing team. Manufactured at low cost and low energy consumption, the company's Power Plastic® technology is lightweight, flexible, scalable and adaptable for use in a variety of commercial, industrial, government and consumer applications. Konarka Technologies is headquartered in Lowell, Mass., U.S.A. and has a full scale production manufacturing facility in New Bedford, Mass. U.S.A., with European headquarters in Nuremberg, Germany, business development offices in Asia and a research and development facility in Austria.

For more information, please click here

Contacts:
BroadPR
Tracy Wemett
+1-617-868-5031

Copyright © Business Wire 2008

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

News and information

East China University of Science and Technology Purchases Nanonex Advanced Nanoimprint Tool NX-B200 July 30th, 2014

Watching Schrödinger's cat die (or come to life): Steering quantum evolution & using probes to conduct continuous error correction in quantum computers July 30th, 2014

From Narrow to Broad July 30th, 2014

FLAG-ERA and TNT2014 join efforts: Graphene Networking at its higher level in Barcelona: Encourage the participation in a joint transnational call July 30th, 2014

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Harris & Harris Group Invests in Unique NYC Biotech Accelerator July 29th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 July 23rd, 2014

Harris & Harris Group Invests in UberSeq, Inc. July 16th, 2014

Harris & Harris Group Portfolio Company D-Wave Systems Closes a $28.4 Million Financing July 14th, 2014

Thin films

Oregon chemists eye improved thin films with metal substitution: Solution-based inorganic process could drive more efficient electronics and solar devices July 21st, 2014

Even geckos can lose their grip July 9th, 2014

Announcements

University of Manchester selects Anasys AFM-IR for coatings and corrosion research July 30th, 2014

Nature inspires a greener way to make colorful plastics July 30th, 2014

Analytical solutions from Malvern Instruments support University of Wisconsin-Milwaukee researchers in understanding environmental effects of nanomaterials July 30th, 2014

FEI Unveils New Solutions for Faster Time-to-Analysis in Metals Research July 30th, 2014

Energy

From Narrow to Broad July 30th, 2014

Oregon chemists eye improved thin films with metal substitution: Solution-based inorganic process could drive more efficient electronics and solar devices July 21st, 2014

Steam from the sun: New spongelike structure converts solar energy into steam July 21st, 2014

3-D nanostructure could benefit nanoelectronics, gas storage: Rice U. researchers predict functional advantages of 3-D boron nitride July 15th, 2014

Alliances/Partnerships/Distributorships

Nature inspires a greener way to make colorful plastics July 30th, 2014

SouthWest NanoTechnologies Names NanoSperse as A SWeNT Certified Compounder July 29th, 2014

ACS Biomaterials Science & Engineering™: Brand-new journal names editor July 29th, 2014

A*STAR and industry form S$200M semiconductor R&D July 25th, 2014

Solar/Photovoltaic

From Narrow to Broad July 30th, 2014

Steam from the sun: New spongelike structure converts solar energy into steam July 21st, 2014

Making dreams come true: Making graphene from plastic? July 2nd, 2014

Shrinky Dinks close the gap for nanowires July 1st, 2014

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 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE