December 21, 2004

Konarka Becomes a World Economic Forum Technology Pioneer; Innovator Chosen for Advances in Alternative Energy Technologies

LOWELL, Mass.--(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 named a World Economic Forum Technology Pioneer. One of only 29 companies chosen worldwide, Konarka was recognized for its technology innovation, keen sense of timing for market acceptance and willingness to address a critical societal issue, the global energy crisis.

Konarka's light-activated power plastic 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, manufacturers can offer truly wireless applications, and consumers can be freed from the power grid for long periods of time, reducing their reliance on fossil fuels.

Technology Pioneers are nominated by the world's leading venture capital and technology companies. The final selection from 114 nominees was made by a panel of leading technology experts appointed by the Forum. To be selected as a Technology Pioneer, a company must be truly innovative; it must have a potential long-term impact on business and society; it is expected to show the signs of a long-term market leader; its technology must be proven; and it must have visionary leadership. Technology Pioneers are engaged with the Forum for three-year terms.

"In its 'The Right Side of the Future' report, the World Economic Forum identifies two trends Konarka is at the forefront of: the impending energy crunch and the switch from fixed to mobile devices," said Howard Berke, chairman and chief executive officer, Konarka. "We want to make portable renewable power practical, affordable and universally available for both the developing and developed worlds. By accelerating a world without wires, we can meet the fast pace of industrialization with quick, inexpensive deployments, little infrastructure and less consumption of fossil fuels."

About the Technology Pioneers Program

The World Economic Forum started the Technology Pioneers program in 2000, with Deloitte Touche Tohmatsu and Apax Partners as strategic partners, with the goal of identifying and integrating companies involved in the development of potential life-changing technology innovation. Once selected, Technology Pioneers are fully integrated into Forum activities and can meet with scientist, academics, NGOs and Forum members and partners to discuss and debate the impact of technology innovation on society and business.

About the World Economic Forum

The World Economic Forum is an independent international organization committed to improving the state of the world. The Forum provides a collaborative framework for the world's leaders to address global issues, engaging particularly its corporate members in global citizenship. Incorporated as a foundation, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. The Forum has NGO consultative status with the Economic and Social Council of the United Nations. (http://www.weforum.org)

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 ommercial, 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.

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