Konarka Technologies, Inc. has signed an agreement with Konica Minolta Holdings, inc. to begin joining forces in developing and distributing organic thin-film photovoltaics. The said agreement wherein Konica Minolta invested 20 million into Konarka, is set to begin in April and will target better performing and more efficient organic thin-film photovoltaics.
Masatoshi Matsuzaki, CEO at Konica Minolta said: “Konica Minolta positions the organic thin-film photovoltaic business as one of the most promising in the environment and energy field, next to the organic light emitting diode (OLED) business, where our photographic film manufacturing technology is leading mass production. We are pleased to be collaborating with Konarka, the first and world leader to commercialize organic thin-film photovoltaics because of its state-of-the-art polymer technology and its mass production facility in New Bedford, Massachusetts.”
The two companies are now expected to create a joint venture company in Japan that will produce these panels.
