Konarka Technologies Inc., a company engaged in the development and commercialization of its Power Plastic photovoltaic material, has signed bilateral R&D and cooperation agreements with Total, an international oil and gas company.
Konarka has secured $45 million in funding, and Total will become the leading shareholder, with its stake being slightly less than 20%. Konarka will work on developing new components for its products with Total's chemical subsidiaries - Atotech, Bostik, Hutchinson, Sartomer and Total Petrochemicals USA.
"Konarka will be very instrumental in helping Total secure its future in solar energy by facilitating the growth of its solar thin-film segment," says Howard Berke, executive chairman and co-founder of Konarka.
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