Nanotechnology Now - Press Release: "Plextronics Receives $750,000 in Funding to Further Development of Plexcore(TM) PV for Organic Solar Cells"

Home > Press > Plextronics Receives $750,000 in Funding to Further Development of Plexcore(TM) PV for Organic Solar Cells

Abstract:
Plextronics, a world leader in developing active layer technology for printed electronic devices,
announced it has received $750,000 in funding from the Sustainable Energy Fund (SEF) of Central Eastern Pennsylvania to further development of Plexcore(TM) PV technology for organic solar cells.

Plextronics Receives $750,000 in Funding to Further Development of Plexcore(TM) PV for Organic Solar Cells

PITTSBURGH, PA | Posted on January 23rd, 2007

Plexcore PV technology is paving the way for the commercialization of organic solar cells as a leading source of renewable energy. Organic solar cells use extremely thin layers of plastic semiconductors, instead of silicon, to absorb light and create electricity. They can be lightweight,
flexible, and can operate well even in low-light conditions. The semiconductors can be printed like inks resulting in a much lower cost of production.

"The Sustainable Energy Fund is pleased to partner with Plextronics in the research and development of photovoltaic and organic lighting projects. These projects are a natural fit with the SEF's mission of developing and investing in economically viable, energy related projects that promote
environmentally sound and sustainable energy use," stated Dennis Maloskey, Chairman of the Program Related Investment Committee.

"The SEF of Central Eastern Pennsylvania is leading the way in efforts to create a diversified energy base by investing in new technologies that will have a dramatic impact on the industry, improve the environment, and create jobs. We are thrilled to have their support. This investment will allow Plextronics to expand our development of Plexcore PV and help us reach our collective goals for solar energy," commented Andrew Hannah, President and CEO, Plextronics.

In March 2006, the West Penn Power Sustainable Energy Fund (WPPSEF) also invested in Plextronics to support the development of Plexcore(TM) HIL for solid-state lighting. Pennsylvania has one of the nation's most progressive alternative energy portfolio standards. It states that by 2020, 18 percent of all retail energy must come from clean, efficient and advanced resources.

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About Plextronics
Plextronics, Inc. is a world leader in developing and delivering active layer technology for printed electronic devices - OLED displays and lighting, polymer solar cells and plastic circuitry. Active layer technology is the printed conductors and semiconductors that drive device performance. Plextronics has unsurpassed control of polymer design and ink formulation, as well as an intimate understanding of device physics and its impact on device performance. This knowledge is applied to the creation of Plexcore(TM) technology, which is specifically designed for each application to maximize device efficiency and operating lifetime in a cost effective manner. In 2006, Plextronics received the following recognition: A Wall Street Journal Technology Innovation Awards Runner-Up, the Organic Semiconductor Industry Awards Start-Up of the Year, A Top 50 Nanotechnology Start-Up by Lux Research, and NREL Clean Energy Entrepreneur of the Year.

For additional information, please visit http://www.plextronics.com .

About Sustainable Energy Fund of Central Eastern Pennsylvania

The Sustainable Energy Fund (SEF) of Central Eastern Pennsylvania is a non-profit, private organization dedicated to the use of renewable energy, clean energy technologies, energy conservation and education. Founded in 1999 by the Pennsylvania Utility Commission (PUC), the SEF promotes clean and renewable energy initiatives and enterprises to benefit customers within the PPL service territory and throughout Pennsylvania. To learn more, visit their website at http://www.thesef.org .

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Contacts:
Jennifer Alexander Honig
Executive Director Corporate Communications
412-977-7703

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