Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Plextronics Closes $20.6 Million Series B Financing: Global Chemical Company Solvay Leads Round with $10 Million Investment

Abstract:
Plextronics, Inc. announced today that it has completed a $20.6 million Series B financing. The round is led by Solvay North America Investments, LLC, a member of the Solvay Group, an international chemical and pharmaceutical group headquartered in Brussels. Solvay's $10 million investment grants the company a minority interest in Plextronics.

Plextronics Closes $20.6 Million Series B Financing: Global Chemical Company Solvay Leads Round with $10 Million Investment

PITTSBURGH, PA | Posted on August 30th, 2007

Significant investments were also received from Firelake Capital Management, Birchmere Ventures, Draper Triangle Ventures and Newlin Investment Company. Plextronics has raised a total of $37 million in equity capital over the last five years.

Plextronics' president and CEO Andy Hannah said that the financing will allow the company to expand its research and manufacturing capabilities, as well as increase its investment in sales and marketing activities.

"Our vision is to be the leading printed electronics company in the world, and we are fortunate to have the continued support of investors like Firelake, Birchmere, Draper and Newlin to assist us with that mission. I'm particularly proud that we have 100 percent participation in this round by all of our existing, major investors. That speaks volumes about the faith they have in our company," said Hannah.

Hannah indicated that the affiliation with Solvay is the beginning of an important global partnership with an organization that is developing a robust strategy in printed electronics.

"Solvay has a clear vision of building long-term, vibrant platforms in solar technology and printed electronics," Hannah said. "Plextronics shares that vision, and we plan to employ our complementary technology platforms to accelerate product commercialization and support the growth of our new partnership."

The Solvay and Plextronics partnership is also expected to result in a joint development agreement that focuses on technology emanating from Solvay's other partners in the organic electronics field.

Leopold Demiddeleer, director of Solvay Corporate R&D and New Business Development, said, "Plextronics has won a number of prestigious awards since it was founded in 2002, and is considered one of North America's most impressive emerging companies among high technology innovators. Their expertise, which capitalizes on extensive research efforts at Carnegie Mellon University, and their market-driven activities are a perfect match for one of Solvay's most promising platforms."

####

About Plextronics, Inc.
Plextronics, Inc. is a leading innovator of technology for printed electronics. The printed electronics market comprises next-generation light, power and circuitry products, including flexible displays, plastic solar cells and organic RFID tags. The market for printed electronics was approximately $1 billion in 2006 and is expected to exceed $300 billion within 20 years.

With a company vision of enabling 15 billion printed electronic devices by 2015, Plextronics is creating technology capable of commercial-scale performance and manufacturability. The company's device design, process technology and Plexcore(R) branded inks enable the formation of active electrical layers - the key drivers of printed electronics.

Plextronics was founded in 2002 as a spinout from Carnegie Mellon University, based upon conductive polymer technology developed by Dr. Richard McCullough. Over the past five years, Plextronics' team of scientists has refined and further developed this technology to deliver exceptional performance for printed electronics.

Some of the company's recent honors include: 2007 Red Herring Top 100 Company, 2006 Wall Street Journal Technology Innovation Awards Runner-Up, 2006 NREL Clean Energy Entrepreneur of the Year, the 2006 Organic Semiconductor Industry Awards Start-Up of the year, and Top 50 Nanotechnology Start-Up by Lux Research.

For more information about Plextronics, visit http://www.plextronics.com/ .

About Solvay

Solvay is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs some 29,000 people in 50 countries. In 2006, its consolidated sales amounted to EUR 9.4 billion, generated by its three sectors of activity: Chemicals, Plastics and Pharmaceuticals. Solvay (Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR) is listed on the Euronext stock exchange in Brussels. Details are available at http://www.solvay.com/ .

For more information, please click here

Contacts:
Lori Lecker of Plextronics
+1-412-562-3929

or
Martial Tardy of Solvay
32 2 509 72 30

Copyright © PR Newswire Association LLC.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Display technology/LEDs/SS Lighting/OLEDs

Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014

QD Vision Wins Prestigious Presidential Green Chemistry Challenge Award from the U.S. Environmental Protection Agency October 16th, 2014

Beyond LEDs: Brighter, new energy-saving flat panel lights based on carbon nanotubes - Planar light source using a phosphor screen with highly crystalline single-walled carbon nanotubes (SWCNTs) as field emitters demonstrates its potential for energy-efficient lighting device October 14th, 2014

Aledia’s Nanowire LED Technology Endorsed By 2014 Physics Nobel Prize Winner: Hiroshi Amano Serves on Company’s Scientific Advisory Board October 13th, 2014

Investments/IPO's/Splits

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Arrowhead Issues Open Letter to Shareholders October 9th, 2014

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Announcements

Device invented at Johns Hopkins provides up-close look at cancer on the move: Microscopic view of metastasis could give insight about how to keep cancer in check October 31st, 2014

First Observation of Electronic Structure in Ag-Rh Alloy Nanoparticles Having Hydrogen Absorbing: Storage Property –Attempting to solve the mystery of why Ag-Rh alloy nanoparticles have a similar property to Pd– October 30th, 2014

Iranians Present Model to Predict Photocatalytic Process in Removal of Pollutants October 30th, 2014

Production of Biocompatible Polymers in Iran October 30th, 2014

Solar/Photovoltaic

New solar power material converts 90 percent of captured light into heat: SunShot Project aims to make solar cost competitive October 29th, 2014

Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014

Magnetic mirrors enable new technologies by reflecting light in uncanny ways October 16th, 2014

Dyesol Signs Letter of Intent with Tata Steel October 13th, 2014

RFID

LogiTag’s Active RTLS Solution Selected by Hebrew University Nano Labs to Safeguards and Monitor Students and Staff May 13th, 2014

Leti and Partners in SOCRATE Project Focusing on Miniature Antennas with Super-Directivity Radiation Properties: Improving Directivity of Small Antennas Would Enhance Spectral Efficiency, Reduce Environmental Impact and Increase Functionality July 15th, 2013

IDTechEx launches online Market Intelligence Portal May 23rd, 2013

Mincom Capital Inc. and Group Nanoxplore Inc. Sign Letter of Intent for a Qualifying Transaction April 10th, 2013

Printing/Lithography/Inkjet/Inks

3DXNano™ ESD Carbon Nanotube 3D Printing Filament - optimized for demanding 3D printing applications in the semi-con and electronics industry October 16th, 2014

Aculon NanoClear Stencil Solution Wins 2014 Global Technology Award at SMTAI October 12th, 2014

Fast, cheap nanomanufacturing: Arrays of tiny conical tips that eject ionized materials could fabricate nanoscale devices cheaply October 4th, 2014

'Greener,' low-cost transistor heralds advance in flexible electronics September 24th, 2014

NanoNews-Digest
The latest news from around the world, FREE





  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE