Funding
As of 2006, Konarka had received $60 million in funding from venture capital firms including 3i, Draper Fisher Jurvetson, New Enterprise Associates, Good Energies and Chevron Technology Ventures. Konarka also received nearly $10 million in combined grants from the Pentagon and European governments, and in 2007 was approved for further funding through the Solar America Initiative, a component of the White House's Advanced Energy Initiative. The company raised a further $45 million in private capital financing in October 2007 in a financing round led by Mackenzie Financial Corporation.
The company also received $1.5 million from a state of Massachusetts alternative energy trust fund in 2003 during Governor Mitt Romney's term and another $5 million during Governor Deval Patrick's term. At the time of its bankruptcy filing in 2012, its funding history was summarized: "Konarka raised more than $170 million in private capital investments and $20 million in government grants, according to its website. Under the Bush administration, Konarka received a $1.6 million Army contract in 2005 and a $3.6 million award from the Department of Energy in 2007. Under the Obama administration, Konarka was one of 183 clean-energy companies that got a total of $2.3 billion in tax credits as part of the 2009 stimulus."
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