Printed Electronics Solvay Finances Printed Electronics Company with EUR 10 Million
Solvay finances technology development of Plexitronics in organic LEDs and organic photovoltaic wih EUR 10 millions. The Belgian based chemicals group is Plexitronics largest minority shareholder.
Brussels/Belgium – Solvay announced to invest around EUR 10 in a financing round to Plextronics, a printed electronics company. With this financial aid Plexitronics hopes to drive its development of organo-electronic technologies and products. Plexitronics aim is to combine existing printing electronics technology with new organic materials for an industrial scale production. The American company is specialised in polymer-based materials and technologies for applications of printed electronics such as organic light emitting diodes (OLED), specifically OLED displays and lighting, as well as organic photovoltaic cells (OPV).
"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," comments Léopold 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.