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Plastic Logic Places a Follow-Up Order With NexTech FAS
NexTech Solutions, Inc. and FAS Holdings Group, LLC, doing business jointly as "NexTech FAS" (PINKSHEETS: NXSL), are pleased to announce that plastic electronics leader, Plastic Logic Limited, has placed a follow-up order with the company for NexTStar™, a stand-alone automated optical inspection system (AOI). The NexTStar will be incorporated into Plastic Logic's manufacturing line of flexible organic active matrix displays.
The NexTStar employs highly accurate and sensitive detection of problem-causing particles during flat panel display (FPD) manufacture. The system represents breakthrough performance in FPD defect detection because of its ability to identify defects as small as 300 nanometers with its proprietary NanoScan™ technology.
Prior to placing an order for NexTStar, Plastic Logic purchased the NexTech FAS Advantage IV Coating Solution, a fully-automated, integrated coating line. Both purchases are to be used in Plastic Logic's manufacturing line of flexible organic active matrix displays being developed for commercial portable electronic reader devices.
Nick Cousins, the director of technology transfer for Plastic Logic, commented, "NexTech FAS is the ideal partner for Plastic Logic; they are a company with a range of technologies ideally suited to our developing process and are of size to respond quickly to our demanding requirements."
About Plastic Logic
Plastic Logic is a leading developer of plastic electronics -- a new technology for manufacturing (or printing) electronics. The Plastic Logic approach solves the critical issues in manufacturing high resolution transistor arrays on flexible plastic substrates by using a low temperature process without mask alignment that is scaleable for large area, high volume and low cost.
This enables radical new product concepts in a wide range of applications including flexible displays and sensors. Independent experts from IDTechEx forecast plastic electronics will be a $30 billion industry by 2015, and could reach as much as $250 billion by 2025.
Plastic Logic was spun out of Cambridge University in 2000 to build on 10 years of research and has a team of more than 90 employees. The company has now raised equity and venture finance from financial and industrial investors including Amadeus Capital Partners (UK), BASF (Germany), Bank of America (US), Dow Chemical (US), Intel Capital (US), Morningside (Hong Kong), Merifin Capital (Belgium), Nanotech Partners (an international nanotechnology fund established principally by Mitsubishi Corporation of Japan), Oak Investment Partners (US), PolyTechnos Venture-Partners (Germany), Siemens (Germany), Tudor Investment Corporation (US) and Yasuda Enterprise Development (Japan). Other shareholders include Cambridge Display Technology, Seiko Epson and the University of Cambridge. Venture finance has been provided by European Technology Ventures and European Venture Partners.
About NexTech FAS
NFJV, LLC, doing business as "NexTech FAS," is the operating company of NexTech Solutions, Inc. and FAS Holdings Group, LLC. NexTech FAS is a Delaware limited liability company, headquartered in Austin, Texas, with facilities in Dallas and Tokyo. The company is widely recognized in the industry for the development of digital fluid dispensing and a patented extrusion coating (spinless coating) technology known as "FAS-Coat," which has become the de-facto standard in the coating processes used in the manufacture of FPDs. The company also delivers advanced metrology and automation solutions, and is the first to deliver a turn-key solution for manufacturing lines in both the semiconductor and FPD industries. NexTech FAS' stock is quoted on the Pink Sheets under the symbol NXSL.
This release may include forward-looking statements that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include delays in new product development, product performance and quality issues and the acceptance of our current and new products by the FPD and semiconductor markets.
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