Thin-Film Solar Panel Maker Konarka Files for Bankruptcy

Konarka Technologies Inc., the thin-film solar panel manufacturer backed by Chevron Corp. (CVX) (CVX), Draper Fisher Jurvetson and New Enterprise Associates Inc., filed for bankruptcy in Massachusetts.

“Konarka has been unable to obtain additional financing, and given its current financial condition, it is unable to continue operations,” Howard Berke, chief executive officer of the Lowell, Massachusetts-based company, said yesterday in a statement.

Konarka listed $100,000 to $500,000 in assets and $10 million to $50 million in debt in its Chapter 7 filing yesterday in U.S. Bankruptcy Court in Worcester, Massachusetts. Konarka NB Holdings LLC, in a separate filing, listed $1 million to $10 million in assets and as much as $50,000 in debt.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Advertise With Us to Reach this Targeted Market

Advertise With Us to Reach this Targeted Market

Reach thousands of focused Alternative Energy Industry Professionals. Leaderboards, ROS Banners, Video Ads, Text Ads and Product Listings.