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

Sun Xtender® Deep Cycle AGM Batteries

Sun Xtender® Deep Cycle AGM Batteries

Sun Xtender® Deep Cycle AGM Batteries for renewable energy storage are manufactured in the USA by Concorde Battery Corporation and are built to the same demanding standards crucial to supporting the aircraft industry. To facilitate maximum conductivity & charge acceptance Sun Xtender® batteries are constructed with copper alloy corrosion free terminals & robust intercell connections. Endurance and optimal float life are achieved through plates thicker than the industry standard. Sun Xtender® Batteries' AGM maintenance free design is an ideal solution for off grid and grid tied systems.