By CEN Staff

In another sign that renewables are going to be part of the
future business plan of traditional energy companies,
French giant Total Gas & Power is partnering with solar
innovator Konarka Technologies on a new deal.

The U.S.-based renewables company has signed bilateral R&D and cooperation agreements with Total in which Konarka gets $45 million in funding and Total will become the leading shareholder with its stake being slightly less than 20%.

Konarka will work on developing new components for their
products with Total’s chemical subsidiaries – Atotech, Bostik,
Hutchinson, Sartomer and Total Petrochemicals USA. Already
present in solar energy through its interest in Photovoltech
and Tenesol, Total intends to step up its crystalline
silicon-based cell production.

At the same time, it aims to grow in the thin film segment; which Konarka will help it to do.  “This is a very substantial and significant investment from a major global energy corporation,” commented Howard Berke, executive chairman and co-founder of Konarka. “This strategic alignment will give Konarka access to a new strength of resources, assets and operations from around the world. Through the agreements, Konarka will be very instrumental in helping Total to secure its future in solar energy by facilitating the growth of its
solar thin film segment of the company’s renewable energy business.”

Following the transaction, Total’s president Philippe Boissea,
said: “This investment positions Total strategically to secure
the future of solar energy while expanding its technological
portfolio.”

“We look forward to working with Total’s five chemical
subsidiaries on technical collaboration, as well as efficient
operational procedures,” commented Rick Hess, president and CEO
at Konarka.

“Active in the area of solar energy for the past 20
years, Total also brings extensive expertise in carbon
chemistry. The collaboration between the two companies will
advance the deployment of solar power for more cost-efficient,
renewable energy around the globe.”