December 21, 2004

Red Herring Selects Konarka for Prestigious Red Herring Top 100 INNOVATORS Award

OWELL, Mass., and SAN FRANCISCO--(BUSINESS WIRE)--Dec. 21, 2004--Konarka Technologies, Inc., an innovator in developing and commercializing power plastics that convert light to energy, today announced it has been selected as a Top 100 Innovator by Red Herring. The award recognizes 100 companies that embody innovation.

"The Red Herring Top 100 Innovators list is the definitive list of the best, most innovative technology companies. We're proud to be a part of this select group, especially when you consider the intense qualitative and quantitative scrutiny the editors engage in," said Howard Berke, chairman and chief executive officer, Konarka. "This award expresses Red Herring's confidence in our vision, team, technology and ability to innovate and bring change to the global renewable energy market."

Konarka develops and produces light-activated power plastic that is inexpensive, lightweight, flexible and versatile. This material makes it possible for electronic devices, systems and structures to have their own low-cost embedded sources of renewable power. By integrating energy generation functionality into everyday devices, Konarka allows manufacturers to offer truly wireless applications.

According to Joel Dreyfuss, Red Herring's editor-in-chief, "Selection for the Innovation 100 puts a company in an elite group. The editors worked hard to identify the companies who will benefit from the important technology trends in the coming year."

Red Herring's editorial staff evaluated more than 1,200 submissions from 900 companies. The editors used a careful analysis of financial data as well as subjective criteria, including quality of management, execution of strategy and dedication to research and development.

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 the chief scientist for Konarka, and Dr. Michael Gratzel (Ecole Polytechnique Federale de Lausanne) is a senior scientific advisor. Konarka Technologies is headquartered in Lowell, Mass., U.S.A., with research and development subsidiaries in Austria, Germany and Switzerland. For more information, visit www.konarka.com or contact Tracy Wemett, BroadPR, at 617-868-5031 or tracy@broadpr.com.

Red Herring covers technology innovation, venture financing, and the deals that make a difference. Its award-winning journalists go deeper, providing a comprehensive, critical analysis of what's new and why it matters. Red Herring covers the business trends with insight that counts, serving today's entrepreneurs and the technology of tomorrow. Head to www.REDHERRING.com for articles, newsletters, and research reports that matter. Red Herring Conferences are open only to CEOs and select senior executives. To subscribe to the Red Herring Magazine, call 866.311.9582 or email redherring@neodata.com.

Contact the Red Herring at info@redherring.com or 650.428.2900.

All trademarks recognized.