Konarka Technologies Inc. has signed a comprehensive research and development collaboration and strategic investment agreement with Konica Minolta Holdings Inc.
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.
SOURCE: Konarka Technologies Inc.