French oil giant Total takes $45 million equity in Thin Film Solar startup Konarka
December 16 2008 / by Garry Golden
Category: Energy Year: 2016 Rating: 1
The thin film solar industry is going global. In the past few months we have seen manufacturing agreements that have connected companies based in the US, Italy, Japan, Korea, China and Turkey. And now we have the first major equity stake from a global energy giant Total.
Konarka partners with French oil giant
Konarka has just announced on Monday that it received $45 million in equity financing from the U.S. division of French oil and gas giant Total. The arrangement also includes R&D agreements with Total’s chemical subsidiaries (Atotech, Bostik, Hutchinson, Sartomer) to further development of the startup’s thin-film, organic solar cell technology
With this stake, Total will become the leading shareholder with a 20% equity stake. This is its first major equity stake in a thin film maker, and will expand Total's current silicon-based solar portfolio with Photovoltech and Tenesol.
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