Konarka Technologies

KONARKA GETS SHOT IN THE ARM FROM ARMY

Aug. 5, 2003 Konarka Technologies Inc. of Lowell, Mass., announced it received a grant from the United States Army to develop its photovoltaic technology for a variety of military applications.

Bill Beckenbaugh, president and chief executive, said the grant was the latest in a total of about $1.5 million in government grant dollars the company has received.

Winning the first grant is extremely important because it positions you for follow-up financing, Beckenbaugh said. The competition is phenomenal right now.The company has netted grants from the Army, Navy, Defense Advanced Research Projects Agency and other agencies in the past year, Beckenbaugh said.

Under the grant, Konarka will work with the Army to develop solar cells that can be integrated into electronic devices, uniforms and other things carried by soldiers. Ardesta LLC, the parent company of Small Times Media, is an investor in Konarka.