Konarka Named a Red Herring 100 Company; Award Recognizes 100 Private Companies in North America That Drive the Technology Industry's Future

Red Herring Spring 2005
LOWELL, Mass., & BELMONT, Calif.--(BUSINESS WIRE)--May 13, 2005--Konarka Technologies, Inc., an innovator in developing and commercializing power plastics that convert light to energy, today announced it has been named one of the Red Herring 100 Private Companies of North America. This the second consecutive year the Company has been honored.

"Five years after the dot-com bubble burst, innovation and entrepreneurship are thriving. The companies on this list are proof," said Red Herring Editor-in-Chief Joel Dreyfuss.

“Red Herring has again put together an impressive list for its top 100 companies. We're proud to be chosen for such a select group for the second straight year”

Konarka develops light-activated power plastic that is flexible, lightweight, lower in cost and much more versatile in application than traditional silicon-based solar cells. Anywhere there is light and a battery, power plastic makes it possible for devices, systems and structures to have their own embedded sources of renewable power. By combining energy generation and power consumption within the same device, Konarka enables manufacturers to offer truly wireless applications.

"Red Herring has again put together an impressive list for its top 100 companies. We're proud to be chosen for such a select group for the second straight year," said Howard Berke, chairman and chief executive officer, Konarka. "After experiencing the intense scrutiny of Red Herring's editors, we believe this award reaffirms that our vision, team and technology can bring a fundamental change to the global renewable energy market."

Red Herring's lists of private companies are an important part of the magazine's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as those that would change the way we live and work.

Red Herring's editorial staff rigorously evaluated more than 900 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy and dedication to research and development. Red Herring 100 companies will be presenting their business models and strategies at the Red Herring Spring conference. Red Herring Spring will take place May 17-19, 2005 at the Monterey Plaza Hotel in Monterey, Calif.

About Red Herring Spring

Red Herring Spring is an invitation-only event for CEOs, select senior executives and venture capitalists. Themed "The Dynamics of Disruptions," Red Herring Spring 2005 will bring together executives from mostly private companies. These executives will be joined by senior executives from public companies and venture capitalists. Please contact Sean Raman at 650-428-2900 or email sraman@redherring.com if you would like to request an invitation to Red Herring Spring.

About Red Herring

Red Herring is the weekly magazine technology entrepreneurs, investors and industry observers read to stay ahead of the curve and to be better informed about the global marketplace. Red Herring covers technology, innovation, financial strategies, important personalities and trends that are transforming the world of business with unique insight, opinion and forward-looking analysis. Readers turn to Red Herring for knowledge to make strategic decisions, build companies and create a competitive advantage for their businesses. Red Herring articles, blogs, research and event information can be found online at http://www.redherring.com.

About Konarka Technologies, Inc.

Konarka builds products that convert light to energy - anywhere. Konarka is the leading developer of polymer photovoltaic products that provide a source of renewable power in a variety of form factors for commercial, industrial, government and consumer applications. Konarka's photovoltaic nanotechnology is focused on delivering lightweight, flexible, scalable and manufacturable products. Konarka has a broad portfolio of patents, technology licenses and an accomplished technical team. Nobel Laureate Professor Alan Heeger (UC Santa Barbara) is a director, co-founder and chief scientist for Konarka. Konarka Technologies is headquartered in Lowell, Mass., U.S.A., with European headquarters in Nuremberg, Germany, and research and development facilities in Austria and Switzerland. For more information, visit http://www.konarka.com or contact Tracy Wemett, BroadPR, at 617-868-5031 or tracy@broadpr.com.

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Tracy Wemett, 617-868-5031

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