Konarka acquires Siemens organic photovoltaic research

Lowell, MA, September 8, 2004--Konarka Technologies has acquired the organic photovoltaic research activities of Siemens. The acquisition brings together two leading efforts to develop and commercialize a new generation of photovoltaics that are inexpensive, easy-to-manufacture and versatile. These new plastic power cells will make it possible for any electronic device or structure to carry its own on-board source of renewable energy.

"Siemens is one of the world's largest innovators in electronics and power generation, and this transaction augments Konarka's ability to deliver the first practical forms of solar power that achieve the price and efficiency performance required to be the global market leader in distributed energy," said Howard Berke, chairman and CEO, Konarka. "The integration of our organic photovoltaic program with Siemens' complementary resources will result in powerful commercial advantages to our customers, changing how the world thinks about harvesting energy from the sun."

Until now, both Konarka and Siemens had been working independently to harness breakthroughs in materials science and nanotechnology to create efficient, lightweight, flexible polymer-based electronics. The new combined effort empowers Konarka with Siemens' intellectual property related to organic photovoltaics and the renowned scientific team led by Christoph Brabec, who becomes Konarka's director of polymer photovoltaic research. In addition, Thomas Grandke, head of the materials and microsystems department at Siemens Corporate Technology, will be joining Konarka's Scientific Advisory Council.