MAY 31, 2012

JUNE 1, 2012

Solar: Konarka

A Bay State solar panel developer that landed a state loan from Mitt Romney when he was Massachusetts governor has gone belly up — a day after the GOP presidential hopeful ripped President Obama’s green-energy investments.
Lowell-based Konarka Technologies announced late yesterday that it filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate.


A Romney spokesman could not be immediately reached for comment.

In its 11-year history, Konarka collected a total of $20 million in government research grants, along with $170 million in private capital. The company makes thin, flexible solar panels that its customers build into other products such as deck umbrellas, backpacks and portable chargers.

Konarka has fallen into the same bankruptcy shadow cast by Bay State clean-energy crashes Evergreen Solar and Beacon Power, both backed by controversial taxpayer subsidies.

Company Overview of Konarka Technologies, INC.

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11 Responses to Karma’s A BITCH, Mitt Romney | SOLYNDRA TODAY KONARKA TOMORROW!

  1. Ametia says:

    Romney Claimed Now-Bankrupt Solar Company Would ‘Become A Major Economic Springboard’ In 2003 Speech

    During an event in January 2003 at the headquarters of Konarka Technologies, Romney called for more grants to the renewable energy sector, and diverted money towards those companies, not away from them. “The trust fund has been growing for years, and I believe now is the time to refocus its assets in such a manner that it can become a major economic springboard for the Commonwealth by focusing on job creation in the renewable energy sector,” he said.


  2. Ametia says:

    Media Fail to Fact Check Romney’s Solyndra Speech
    Media Matters For America / Research
    Published: Sunday 3 June 2012

    An inspector general did not look into the investment in Solyndra and conclude that the administration had steered money to friends and family.

    Mitt Romney’s remarks at Solyndra were full of falsehoods that went unchecked by many major media outlets. The media also largely failed to point out that as governor of Massachusetts, Romney invested in several companies that subsequently went bankrupt or defaulted on state loans.

    Media Perpetuate Falsehoods From Romney Speech


    Media Uncritically Forward Romney’s Claim That Obama Gave Loans To “Friends.” The Los Angeles Times, Wall Street Journal, CNN and Fox News uncritically repeated Romney’s claim that Solyndra is an example of “crony capitalism” and Obama “giving [taxpayer money] freely to his friends.”[Los Angeles Times, 5/31/12]

    [Wall Street Journal, 5/31/12] [CNN,


    Starting Point with Soledad O’Brien, 6/1/12, via Nexis] [CNN, John King USA, 5/31/12, via Nexis] [CNN, The Situation Room, 5/31/12, via Nexis] [Fox News, Special Report, 5/31/12, via Nexis] [FoxNews.com, 6/1/12]

  3. Ametia says:

    Second Romney-Backed Solar Company Files For Bankruptcy
    By Igor Volsky on Jun 2, 2012 at 4:15 pm


    Konarka is the second Massachusetts solar company, along with Evergreen Solar and Beacon Power, to receive taxpayer dollars under Romney’s tenure and subsequently declare bankruptcy.

    Romney, meanwhile, routinely dismisses the nation’s 3.1 million clean energy jobs, even as clean energy is booming in Massachusetts. The industry has created 64,000 jobs across the energy efficiency and renewable energy sectors.


  4. Ametia says:

    Waitng for Mitt Romney to come to Beford Konarka Tech and speak out on it going BANKRUPT


  5. Ametia says:

    Romney-Backed Konarka and it Organic Solar Cells File For Bankruptcy

    Whatever else one can say about organic solar cell aspirant Konarka, the startup was absolutely skillful at raising money.

    But that streak has ended.

    We had heard from a number of credible sources that the company was in trouble, having difficulty raising more financing, and flirting with some type of protection from creditors. We had made a number of inquiries with the CEO, Howard Berke, as well as board members, staff members, and the firm’s PR agency but all parties were unresponsive.

    We have just learned that Konarka has filed for bankruptcy protection under chapter 7 of the Federal bankruptcy laws, according to a release. The company’s operations will cease and now a trustee will liquidate the company’s assets for the benefit of creditors.

    Konarka has raised more than $150M in angel funding, venture capital, strategic investment and private equity money raised since 2001. Throw in at least $10 million more in DARPA, DOE, NSF, U.S. Army, bank loans and credit lines in the last ten years.[…


  6. Ametia says:


    Wonder what the employees have to say about Konarka GOING BANKRUPT, MITT.

  7. Doreen says:

    Ha, ha, ha!!! Karma baby!!

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