Konarka Technologies Becomes First Company in the Americas to Receive EPFL License for Dye-Sensitized Solar Cells

Business Wire, August 13, 2002

Business/Technology Editors

LOWELL, Mass.--(BUSINESS WIRE)--Aug. 13, 2002

Company Marks Major Milestone

Toward Commercialization of Third Generation Photovoltaics

Konarka Technologies, Inc. (KTI), an innovator in the development of flexible, polymer and nanoparticle-based photovoltaic technology, announced today that it has been granted licensee rights to dye-sensitized solar cell technology from the Swiss Federal Institute of Technology (EPFL). As a result, Konarka will be able to leverage its own intellectual property in conjunction with the EPFL license, to expedite the commercialization of its photovoltaic (PV) technology.

The EPFL's dye-sensitized technology was developed by the world-renowned scientist, Dr. Michael Graetzel, and enables photovoltaic technology to conduct energy across a broad spectrum of light, both indoors and outdoors. Konarka is able to considerably enhance this technology, based on the company's own inventions and its exclusive, worldwide licensing rights to proprietary processes from the University of Massachusetts. These processes will enable production at lower temperatures, which serves as the foundation for extremely low manufacturing costs.

"The Swiss Federal Institute of Technology of Lausanne is very pleased to welcome Konarka Technologies, Inc. as its first US licensee for EPFL's photovoltaic dye solar cell technology," stated Professor Jean-Jacques Paltenghi, director of industrial relations, EPFL. "Considering the high professional commitment of Konarka's team, we are confident that this partnership will push this promising technology from the research laboratories to the market. We wish them success."

Konarka's dye-sensitized photovoltaic technology will offer a cost-effective means of generating energy both indoors and outdoors. The KTI-produced modules will be more versatile and lightweight than traditional photovoltaic modules that typically rely on glass to protect rigid crystalline solar cells.

"Receiving IP license rights from the EPFL, as the first licensee in the Americas, is an essential business development milestone and a validation of the rapid progress Konarka has made in the development of high volume manufacturing methods for the dye sensitized process," said Konarka President and CEO, Dr. Bill Beckenbaugh. "Dr. Graetzel has created a revolutionary technology of unique value. At Konarka, we are making significant strides toward transforming this technology into PV products and systems, with the potential to fundamentally change the economics of the way energy is produced by converting light into electricity. The EPFL license conveys both a wealth of existing technology, as well as access to future advances by Dr. Graetzel and his team."

About Konarka Technologies

Founded in June of 2001, Konarka Technologies, Inc. is an advanced research and development company, dedicated to the commercialization of power solutions based on a proprietary, solid-state, flexible, low-cost photovoltaics (PV) platform. Unlike other photovoltaic technologies that incorporate glass, Konarka's technology is polymer-based, making it lightweight and portable. The company's PV module technology converts both sunlight and indoor light into direct current (DC) electrical energy and can be incorporated into a wide range of applications, creating an economical, versatile power source. Konarka has a dozen patents pending and exclusive worldwide rights to nanomaterials "cold sintering" technology from the University of Massachusetts. The company's talented technical staff is complimented by a Board of scientific and business advisors, including Nobel Laureate - Alan Heeger, also a founding member of the Board of Directors. Konarka Technologies is headquartered in Lowell, Mass. For more information, visit Konarka's web site at www.konarkatech.com.