Konarka Secures $45 Million in Private Capital Financing

Leading Investors Back Clean Energy Innovator with Commercialization of
Organic Photovoltaics

Konarka Technologies, Inc., an innovator in development and commercialization of Power Plastic, a material that converts light to energy, recently announced it has raised $45 million in private capital financing. The financing was led by Mackenzie Financial Corporation, a leading investment management firm with over $60 billion in assets under management, and was co-led by existing investor, Good Energies, a leading investor in the renewable energy industry. 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. The financing was agented by Lehman Brothers.

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 Konarkas organic photovoltaic material, Power Plastic, to market.

Howard Berke, executive chairman of the board at Konarka, stated, This funding further strengthens our balance sheet as we scale up to introduce Power Plastic commercially. We are in an optimal financial position to launch our renewable energy technology into a variety of markets.

Konarka builds products that convert light to energy anywhere. As the leading developer of polymer photovoltaic technology that provide a source of renewable power in a variety of form factors for commercial, industrial, government and consumer applications, Konarka has a broad portfolio of patents, technology licenses and an accomplished technical team. The Company’s Power Plastic technology is focused on delivering lightweight, flexible, scalable and manufacturable products. Konarka Technologies is headquartered in Lowell, 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 visit www.konarka.com