Nanotechnology Now







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

New nanowire structure absorbs light efficiently: Dual-type nanowire arrays can be used in applications such as LEDs and solar cells February 25th, 2015

QD Vision Named Edison Award Finalist for Innovative Color IQ™ Quantum Dot Technology February 23rd, 2015

JunPus launched high-performance thermal grease for LED February 20th, 2015

Penn researchers develop new technique for making molybdenum disulfide: Extra control over monolayer material with advantages over graphene February 19th, 2015

Investments/IPO's/Splits

Arrowhead to Present at 2015 RBC Capital Markets' Global Healthcare Conference February 17th, 2015

Iran 1st among Islamic Nations in Scientific Production, Nanotechnology February 16th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Raises an Additional $29 Million (CAD), Closing 2014 Financing at $62 Million (CAD) February 2nd, 2015

Malaysian Nanotechnology Company Nanopac Innovation Ltd. lists on the NSX January 19th, 2015

Announcements

Untangling DNA with a droplet of water, a pipet and a polymer: With the 'rolling droplet technique,' a DNA-injected water droplet rolls like a ball over a platelet, sticking the DNA to the plate surface February 27th, 2015

Real-time observation of bond formation by using femtosecond X-ray liquidography February 26th, 2015

Bruker-Sponsored Sixth AFM BioMed Conference Highlights Increasing Impact of AFM in Biological Applications February 26th, 2015

Graphene shows potential as novel anti-cancer therapeutic strategy: University of Manchester scientists have used graphene to target and neutralise cancer stem cells while not harming other cells February 26th, 2015

Solar/Photovoltaic

New nanowire structure absorbs light efficiently: Dual-type nanowire arrays can be used in applications such as LEDs and solar cells February 25th, 2015

Learning by eye: Silicon micro-funnels increase the efficiency of solar cells February 25th, 2015

Magnetic nanoparticles enhance performance of solar cells X-ray study points the way to higher energy yields February 25th, 2015

Researchers enable solar cells to use more sunlight February 25th, 2015

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

Maximum Precision in 3D Printing: New complete solution makes additive manufacturing standard for microfabrication February 26th, 2015

SUNY Poly CNSE Researchers and Corporate Partners to Present Forty Papers at Globally Recognized Lithography Conference: SUNY Poly CNSE Research Group Awarded Both ‘Best Research Paper’ and ‘Best Research Poster’ at SPIE Advanced Lithography 2015 forum February 25th, 2015

World’s first compact rotary 3D printer-cum-scanner unveiled at AAAS by NTU Singapore start-up: With production funded by crowdsourcing, the first unit will be delivered to the United States in March February 16th, 2015

3-D printing with custom molecules creates low-cost mechanical sensor February 10th, 2015

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 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE