Japan’s Konica puts $20M in Konarka

NEW BEDFORD – Konarka Technolgies Inc. has received a $20 million investment from Japan-based Konica Minolta Holdings Inc.
The companies have signed a deal to work together in developing and distributing organic thin-film photovoltaics, which convert light into energy.
Lowell, Mass.-based Konarka, which has manufacturing operations in a former Polaroid facility in New Bedford, already manufactures organic photovoltaic products, but with this collaboration it said it hopes to improve the conversion efficiency and lifespan of photovoltaic technologies.
Konica Minolta and Konarka plan to create a joint-venture company if the collaboration is successful after it starts in April. •