Wednesday, December 17, 2008

A Total Green play on an oil company?

Couple of green investments.Oil companies continue to fund green tech R&D development

"Konarka Technologies, Inc., an innovator in development and commercialization of Power PlasticĀ®, a material that converts light to energy, today announced the company has signed bilateral R&D and cooperation agreements with Total, one of the largest publicly-traded integrated international oil and gas companies in the world. Konarka has secured $45 million in funding and Total will become the leading shareholder with its stake being slightly less than 20%."

Already, Total has stakes in the solar companies Photovoltech and Tenesol and is hoping to increase its crystalline silicon-based cell production, while using Konarka to start developing thin film technology.

Hey, if you want to invest in an energy company, at least invest in a diversified energy company. I don't if you can call that a green investment, but it's a step. Or, Konarka is always a pure play on solar power.

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