GoingGreen East is March 9th – 11th in Boston; 50% Discount for Green VC Readers

GoingGreen East 2009

AlwaysOn will present GoingGreen East 2009 from March 9th – 11th in Boston, Massachusetts.  This event wlll provide educational programs and networking opportunities for members of the cleantech/greentech community, including CEOs, entreprenuers, business development officers, researchers, media, and venture capital and private-equity investors.

GoingGreen East 2009 will feature panel sessions on topics including "Cleantech Dollars Looking for Cleantech Deals" and "The Future of Carbon Markets."  The AlwaysOn editors will also honor the GoingGreen Top 50 Private Companies. In addition, up to 50 green technology CEOs willl pitch their market strategies to a panel of industry experts in “CEO Showcases.”  For additional program information you can view the GoingGreen East 2009 agenda

Readers of Green VC can receive a 50% discount off the standard registration rate to GoingGreen East 2009 by registering via this link.  For more information:

Fourth Conference on Clean Energy to Take Place in Boston from November 18-19

The Fourth Conference on Clean Energy will be taking place in Boston from November 18-19.  This event will spotlight clean energy startups and will be attended by entrepreneurs, investors, and other stakeholders in the clean energy community.  Program highlights include:

This conference is one of a number of programs in Massachusetts 2nd Annual Clean Energy Week.  For more information:

Konarka Opens World’s Largest Roll-to-Roll Flexible Thin Film Solar Manufacturing Facility


Konarka Technologies, Inc., a Lowell, Massachusetts-based developer and manufacturer of solar plastic films, recently announced that it opened the largest roll-to-roll flexible thin film solar manufacturing facility in the world.  The facility is in a 250,000 square foot building in New Bedford, Massachusetts that was previously used by Polaroid Corporation. The following video provides a brief overview of the company:

"This facility has state-of-the-art printing capabilities that are ready for full operation, with the future potential to produce over a gigawatt of flexible plastic solar modules per year," commented Howard Berke, executive chairman and co-founder of Konarka. "Our technical leadership and innovation in flexible thin film solar, along with this facility’s capabilities of producing in excess of 10 million square meters of material per year, will allow us to produce Power Plastic for indoor, portable, outdoor and building integrated applications."

"Since 2001, Konarka has taken revolutionary lab discoveries from its founding scientists to pilot production for initial customers and now to full-scale manufacturing with the near future capacity of one gigawatt per year, which could contribute to the power and electricity needs of our nation and the avoidance of CO2 emissions," said Rick Hess, president and CEO at Konarka. "As one of the original recipients of the Solar American Initiative (SAI) awards in 2007, Konarka is furthering the U.S. Department of Energy’s (DOE) vision to reach its goal of making solar electricity from photovoltaics cost-competitive with conventional forms of electricity."

"With our nationally recognized technology expertise and resources, Massachusetts is becoming a global center for alternative and renewable energy, and Konarka is helping to solidify our commitment to a clean energy future and ongoing economic development and job growth in the Commonwealth," said, Daniel O’Connell, Massachusetts Secretary of Housing and Economic Development.

Scott W. Lang, Mayor of New Bedford, added, "We are excited that Konarka is bringing new jobs to help further drive the economy and interest in the city of New Bedford, and we are proud that our city is home once again to an industry leading manufacturing plant."

Konarka has obtained more than $100 million from venture capital and private equity funds thusfar, including 3i Group, Chevron, Draper Fisher Jurvetson (DFJ), Good Energies, Massachusetts Green Energy Fund, Mackenzie Financial, Massachusetts Technology Collaborative, New Enterprise Associates (NEA), and Asenqua Ventures.  The company has also received $18 million in government agency research grants from the U.S. and Europe.

For more information:

A123 Systems Files Registration Statement with SEC for IPO; Discloses $102.1 Million in Additional Equity Financing

A123 Systems

A123 Systems, a company that develops and manufactures lithium-ion batteries and battery systems for the transportation, electric grid services, and portable power markets, announced in August that it filed a S-1 registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering (IPO) of up to $175 million of its common stock on the NASDAQ Global Market under the ticker symbol "AONE".  You can view this filing by clicking on the image below:

A123 Systems S-1

A123 Systems was founded in 2001 to commercialize new battery technology developed at the Massachusetts Institute of Technology. The company began selling its first products commercially in the first quarter of 2006.  The company’s revenue was $34.3 million for the year ended December 31, 2006, $41.3 million for the year ended December 31, 2007, and $10.3 million for the three months ended March 31, 2008.

A key source of A123 Systems’ revenue to date has been Black & Decker, to which A123 Systems has supplied batteries for their portable power tools.  The company also operates in other market segments, including transportation and electric grid services. A123 Systems has acquired a number of companies over the years including Hymotion.  The following video provides an illustration of some of A123 Systems’ technology in the transportation sector:

Investors in A123 Systems include General Electric, Procter & Gamble, Alliance Capital, Motorola, Qualcomm, North Bridge Venture Partners, Sequoia Capital, CMEA Ventures, FA Technology Ventures, OnPoint, Carruth Management, the Massachusetts Institute of Technology, and Desh Deshpande (A123 Systems’ board chair). 

In A123 Systems’ S-1 filing, the company stated that it raised $102,085,005 in equity financing (6,152,553 shares of Series E convertible preferred stock at $16.59 per share) after March 31, 2008.  The company also stated that it had received aggregate net proceeds of approximately $266.1 million since its founding from the financing activities of private placements of preferred stock, common stock, convertible promissory notes, demand notes, term loans, revolving credit facilities and other credit facilities.

For more information

Greentech Media Receives $2.75 Million in Series B Financing

Greentech Media

Greentech Media, a Cambridge, Massachusetts-based online media company, announced on Tuesday that it raised $2.75 million in Series B financing. This round was co-led by new investors EGORA Holding and The Massachusetts Green Energy Fund. Existing investors Lightspeed Venture Partners and Northport Private Equity also participated, along with new investor King Hill Capital.  Greentech Media previously raised a $1 million series A round in May, 2007.

Greentech Media said that it will use the new funds to expand its staff, news coverage, products, and sales efforts.  In conjunction with this funding news and its growth strategy, Greentech Media also announced the hiring of former CNET editor Michael Kanellos as senior analyst.

For more information: