Konarka raises $45 million

Konarka Technologies Inc. of Lowell announced today that it has raised $45 million in private capital financing.

Konarka develops Power Plastic, a polymer photovoltaic technology that provides a source of renewable power by converting light into energy.

Konarka said the financing was led by Mackenzie Financial Corp. of Canada and Good Energies, an investment firm with offices in such cities as London, New York, and Toronto.

"This latest round of financing will help to accelerate our plan to bring Konarka's organic photovoltaic material, Power Plastic, to market," Konarka president and chief executive Rick Hess said in a statement.
(By Chris Reidy, Globe staff)