European Investors Back Konarka

July 8, 2004 []Konarka has done it again. In what’s starting to sound like a mantra, the upstart solar photovoltaic (PV) company has secured more financing which the company says will prepare them for future commercialization and manufacturing for their solar technology. The latest investment comes from the European venture capital community as part of its recent US$18 million Series C round of financing. Partech International, Prime New Energy and Good Energies participated in this funding round, joining lead investor New Enterprise Associates, Vanguard Ventures, SDL Ventures, Presidio Venture Partners, Draper Fisher Jurvetson, Zero Stage Capital, ChevronTexaco Technology Ventures, Eastman Ventures, Ngen Partners and Ecole Polytechnique Federale De Lausanne. Konarka will also grow its U.S. headquarters to scale manufacturing to production levels. The company expects to deliver its first commercial products by December 2004. Since 2001, Konarka has raised more than $32 million.
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