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Financing

Konarka Technologies, Inc. From Light to Power Enabled by Nanotechnology Innovator of polymer photovoltaic products in a variety of form factors for commercial, industrial and consumer applications Flexible  Lightweight  Indoor/Outdoor  Mission-Designed  Low cost. Financing.

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Financing

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  1. Konarka Technologies, Inc.From Light to PowerEnabled by NanotechnologyInnovator of polymer photovoltaic products in a variety of form factors for commercial, industrial and consumer applicationsFlexible  Lightweight  Indoor/Outdoor Mission-Designed  Low cost

  2. Financing • Completed $13.5 Million B round, Fall ‘02 • Lead: Draper Fisher Jurvetson • ~ $18 million in total financing to date • Late 2004 C Round • Mid-stage institutional equity investors

  3. Experienced Leadership and Technical Excellence 30 years as executive with extensive marketing and technology leadership; Western Electric, Motorola, Hadco, Sanmina-SCI

  4. Global Demand for Energy Source: EPRI, US DOE 2000

  5. Photovoltaics (“PV”) • The conversion of light into electricity • Silent, no maintenance, no fuel, no emissions • The lowest cost option for remote applications • Recognized as part of the solution to the global need for electricity and clean energy • Generator of Choice for >2 billion people • Option for all of us

  6. Markets & Applications PV Production in MegawattsRepresenting a global market of $7 Billion 35% growth – 2001 to 2002 Source: PV News, Paul Maycock, editor

  7. Goals and Strategy Konarka’s Story • What: Energy conversion of light  electricity • Based on nanomaterials and conductive polymers • High-speed roll-to-roll manufacturing on plastic & metal foils • Unique product benefits for new applications • Why: Growing existing market / enable new markets • World market solar industry CAGR > 35% • Who: Superior team • 31 staff, 15 advisors, experienced Board • How: Blocking and enhancing IP • 20+ patents issued and pending • Supporting IP from UMass (exclusive), EPFL (sole US licensee), JKU-Linz (exclusive) • Strategic investors & partners - Chevron Texaco and Eastman Chemical

  8. Technology & IP PV Technologies • Crystalline Silicon on Glass • 1st generation(developed in the70s) semiconductor wafer in glass, complex manufacturing process • Thin Film (majority on glass) • 2nd generation (developed in the 80s) requireslow-pressure, high-temperature film deposition, expensive packaging, complex manufacturing process • Polymers & Nanomaterials • 3rd generation (developed in the 90s) uses photoactive dyes, conducting polymers, high-speed manufacturing process at low temperature, low cost materials, scaleable

  9. Photovoltaic Nanotech Companies • Nanosolar – nanoparticles (20 - 40nm) • Titania - dye sensitized • Hitachi-Maxell • Titania – dye sensitized • Nanosys – quantum dots (<10nm) • CdSe, PbS • Evident Technologies – quantum dots (<10nm) • CdSe, PbS

  10. Technology & IP KTI’s Vision: Light-weight, Flexible Photovoltaics Plastic Transparent Conductor Active Layer 0.010 inches Counter Electrode Plastic or Metal foil

  11. Dye Cell Principle of Operation Transparent Conductor TiO2 Dye Electrolyte Cathode Injection S* -0.5 Maximum voltage 0.0 E vs NHE (V) hυ Red Ox Mediator 0.5 Interception Diffusion 1.0 So/S+

  12. SEM of Nanostructured Titania

  13. Technology & IP Polymer Cell Schematic Transparent substrate Transparent substrate Light

  14. Technology & IP Fullerenes Carry Electrons • Fullerenes are carbon molecules • Electrons can freely move around the molecule and “hop” to adjacent fullerene Fullerene (60 atoms of carbon)

  15. Technology & IP Fullerene / Polymer Function

  16. Increasing Performance: Matching the Solar Emission • Increase absorption • Higher absorption coefficient; Higher charge carrier mobility • Shift of the absorption to red • Low Band Gap Polymers

  17. Technology & IP Complementary Materials Platforms Conducting Polymers(R&D) Dye-Sensitized Titania (Go-To-Market) Hybrid

  18. Dye vs. Polymer

  19. Choice of Materials & Process

  20. Product Attributes Signifies significant competitive advantage Signifies moderate competitive advantage Signifies distinct disadvantage

  21. Features Open Opportunities Increasing capability and opportunity Distributed AC Grid Industrial Off Grid Distributed DC Grid Military Portable Electronics Disposable Off-Grid Residential Battery Charging 2001 TAM 40 MW 10 MW 50 MW 100 MW 300 MW 2010 TIM 200 25 400 700 1200 TAM per PV News; TIM per EPIA Forecast (Mil. By KTI)

  22. First Products

  23. Markets & Applications Portable Applications Personal LAN Appliances Self-charging battery Wireless instrumentation

  24. Military / Civil / Emergency Wearable Power Flexible Light-weight Charger PowerCloth™

  25. Technology & IP Product Vision-Photovoltaic Fibers* *Patents applied for in 2002

  26. Coating Production Process Applicable to all Materials Platforms • “Roll-to-roll” on plastic • Continuous coating • Utilize existing plants(corporate partners) • Conventional methods • No capacity constraints

  27. KTI Commercialization Process Gate 0 Gate 1 Gate 2 Customers Gate 3 Technologists Polymer Cell Gate 4 ? Gate 5 Idea Concept Feasibility Development Pre-Mfg Commercialization Assessment TiO2 Dye Cell Stage 5 Sales Stage 4 Stage 3 Anywhere Stage 2 Stage 1

  28. Technology Benchmark and Goals 20% KTI Polymer PV Future Polycrystalline Si 15% KTI DSSC PV Future Efficiency 10% KTI DSSC PV Today Thin Film Amorphous Si 5% KTI Polymer PV Today Low High $/Watt

  29. Preliminary Production Ramp Scheduleand Module Efficiency Goals for KTI-Lowell Pilot Production * Production Capacity – 3 shifts / 6 days per week.

  30. Conclusions We have a Commercial Cost Advantage 2nd Gen. 1st Gen. 3rd Gen. Direct Mfg. Cost ($/W) Range of Possible Gen 1 and 2 Direct Manufacturing Costs Achievable by 2010 - Source: A.D. Little

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