LOWELL, Mass. – Bay State solar energy company Konarka Technologies Inc. has received a $5 million state loan to support the opening of its new manufacturing facility in New Bedford.
The loan was funded jointly by the Mass. Development Finance Agency’s Emergency Technology Fund and the Mass. Renewable Energy Trust’s Business Expansion Initiative.
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“With our vast array of technology expertise and resources, Massachusetts has the capability to become a global center for alternative and renewable energy, and Konarka is helping to solidify our commitment to a clean energy future,” Mass. Gov. Deval L. Patrick said in a statement. “I am delighted Konarka is bringing more jobs to the Commonwealth – especially in the area of renewable energy.”
Konarka began operations last fall at the 257,000-square-foot, roll-to-roll, thin-film solar-manufacturing facility located in the former Polaroid complex in the New Bedford Business Park on Duchaine Boulevard. (READ MORE)
“This financing further demonstrates the state’s commitment toward broad-scale solar adoption and green-job creation in the area of clean energy,” said Howard Burke, Konarka’s co-founder and executive chairman. He said the money will be used to purchase equipment and expand capacity at the New Bedford facility.
The new investment follows a $45 million infusion Konarka received in December from French oil and gas giant Total Gas & Power Ltd., making Total Gas the green energy technology company’s largest shareholder. (READ MORE)
Konarka Technologies Inc. is an early-stage company that is developing and making polymer-based organic photovoltaic (OPV) technologies for the solar-energy industry. To learn more, visit www.konarka.com.
