The companies have reached an agreement to start full-scale collaboration in April in the joint development and distribution of organic thin-film photovoltaics. Under the agreement, Konica Minolta has invested $20 million in Konarka.
Upon successful results of the joint-development milestones, the companies are expected to establish a joint-venture company in Japan to produce organic thin-film photovoltaic panels. Konica Minolta will be Konarka's lead Asian business partner headquartered in Japan.
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