Konarka secures additional financing

May 17, 2005 — Konarka Technologies, Inc., a Lowell, Mass.-based developer of power plastics that convert light to energy, today announced it secured up to $7 million in venture debt financing from Lighthouse Capital Partners. Konarka plans to use the funds for research lab expansion, capital equipment and working capital related to the development of its light-activated power plastic.

“We have a great deal of confidence in the business Konarka is building and its market potential,” Ned Hazen, managing director, Lighthouse Capital Partners said in a prepared statement.

Konarka’s key investors include New Enterprise Associates, Draper Fisher Jurvetson, Vanguard Ventures, Partech International and Prime New Energy, as well as ChevronTexaco, Eastman Chemical and Siemens Corporate Technology.


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