Solvay gives €10 million in financing round Plextronics

Solvay gives €10 million in a financing round to Plextronics

5:42 PM, 27th July 2011
Solvay gives €10 million in a financing round to Plextronics
Andy Hannah, President and CEO, Plextronics.

BRUSSELS, BELGIUM: Solvay has provided €10 million ($15 million) in a financing round to Plextronics, a printed electronics company. The financing will support the acceleration of Plextronics’ technology development and delivery of its innovative products. Solvay is Plextronics’ largest minority shareholder.

Printed electronics is an emerging technology that takes advantage of new organic materials applied to existing printing technologies to manufacture on industrial scale electronic devices with a wider variety of shapes and supports, with low manufacturing costs. Plextronics specializes in polymer-based materials and technologies for key applications of printed electronics. 

“The adoption of OLED technology is a visible sign that organic and printed electronics are on the verge of becoming a major market for advanced materials. Plextronics is our partner of choice to succeed in this high growth area and we continue to work closely on developing joint business opportunities,” said Leopold Demiddeleer, Head of Future Businesses & Corporate Platforms, Solvay.

“Plextronics enjoys strong industry recognition in the last two years as the preferred ink provider for solution processed OLED and OPV manufacturers. The advancement of our OLED technology is of particular importance as we work to meet projected customer demands for OLED flat panel display technology and OLED lighting applications,” said Andy Hannah, President and CEO, Plextronics.

(C) WOC News

 

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