Solvay has announced that it has provided EUR 10 million (USD 15 million) in a financing round to Plextronics, a printed electronics company. This financing will support the acceleration of Plextronic…
Solvay has announced that it has provided EUR 10 million (USD 15 million) in a financing round to Plextronics, a printed electronics company. This financing will support the acceleration of Plextronics“ technology development and delivery of its innovative products to a growing base of global customers. 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, including thin, flexible substrates, with low manufacturing costs. Plextronics specializes in polymer-based materials and technologies for key applications of printed electronics such as organic light emitting diodes (OLED), specifically OLED displays and lighting, as well as organic photovoltaic cells (OPV). This continued investment clearly demonstrates Solvay“s commitment to Plextronics and the field of printed electronics. The adoption of OLED technology, for example, 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, comments Lopold Demiddeleer, Head of Future Businesses & Corporate Platforms, a section of Solvay“s newly created Innovation Center. Plextronics enjoys strong industry recognition and achieved significant milestones in the last two years as the preferred ink provider for solution processed OLED and OPV manufacturers. We are extremely pleased to have the continued support from Solvay and to work side-by-side with them in the advancement of printed electronics, says Andy Hannah, President and Chief Executive Officer of Plextronics. 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, he adds.