Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

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

Hybrid nanoantennas -- next-generation platform for ultradense data recording April 28th, 2016

Manipulating light inside opaque layers April 24th, 2016

Highlights from the Graphene Flagship April 22nd, 2016

What screens are made of: New twists (and bends) in LCD research: X-ray research at Berkeley Lab details exotic structure formed by liquid crystals April 19th, 2016

Investments/IPO's/Splits

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Aspen Aerogels to Present at the 28th Annual ROTH Conference March 14th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Arrowhead to Present at Upcoming March Conferences March 1st, 2016

Announcements

Little ANTs: Researchers build the world's tiniest engine May 3rd, 2016

An Experiment Seeks to Make Quantum Physics Visible to the Naked Eye May 3rd, 2016

Quantum sensors for high-precision magnetometry of superconductors May 3rd, 2016

New drug-delivery approach holds potential for treating obesity May 2nd, 2016

Solar/Photovoltaic

NREL finds nanotube semiconductors well-suited for PV systems April 27th, 2016

Flipping a chemical switch helps perovskite solar cells beat the heat April 26th, 2016

Manipulating light inside opaque layers April 24th, 2016

Thin-film solar cells: How defects appear and disappear in CIGSe cells: Concentration of copper plays a crucial role April 23rd, 2016

RFID

Conformal transfer of graphene for reproducible device fabrication August 11th, 2015

GLOBALFOUNDRIES Launches Industry’s First 22nm FD-SOI Technology Platform: 22FDX offers the best combination of performance, power consumption and cost for IoT, mainstream mobile, RF connectivity, and networking July 13th, 2015

New micro-supercapacitor structure inspired by the intricate design of leaves: A team of scientists in Korea has devised a new method for making a graphene film for supercapacitors July 2nd, 2015

Designer electronics out of the printer: Optimized printing process enables custom organic electronics June 16th, 2015

Printing/Lithography/Inkjet/Inks

Electrically Conductive Graphene Ink Enables Printing of Biosensors April 23rd, 2016

Highlights from the Graphene Flagship April 22nd, 2016

Penn engineers develop first transistors made entirely of nanocrystal 'inks April 11th, 2016

Researchers use 3-D printing to create structure with active chemistry April 4th, 2016

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







Car Brands
Buy website traffic