SOLVAY COMMITS EUR 10 MILLION TO FUEL PLEXTRONICS' INNOVATIVE TECHNOLOGY DEVELOPMENT IN OLED AND OPV.
(Thomson Reuters ONE) -
Brussels, 26 July 2011, at 7:30 a.m. (Brussels time)
SOLVAY COMMITS EUR 10 MILLION TO SUPPORT PLEXTRONICS' INNOVATIVE TECHNOLOGY
DEVELOPMENT IN ORGANIC LIGHT EMITTING DIODES AND ORGANIC PHOTOVOLTAIC CELLS
Solvay announced today that it has provided EUR 10 million (USD 15 million) in a
financing round to Plextronics, a printed electronics company. This financing
will support the acceleration of Plextronics' technology development and
delivery of its innovative products to a growing base of global customers.
Solvay is Plextronics' largest minority shareholder.
Printed electronics is an emerging technology that takes advantage of new
organic materials applied to existing printing technologies to manufacture on
industrial scale electronic devices with a wider variety of shapes and supports,
including thin, flexible substrates, with low manufacturing costs. Plextronics
specializes in polymer-based materials and technologies for key applications of
printed electronics such as organic light emitting diodes (OLED), specifically
OLED displays and lighting, as well as organic photovoltaic cells (OPV).
"This continued investment clearly demonstrates Solvay's commitment to
Plextronics and the field of printed electronics. The adoption of OLED
technology, for example, is a visible sign that organic and printed electronics
are on the verge of becoming a major market for advanced materials. Plextronics
is our partner of choice to succeed in this high growth area, and we continue to
work closely on developing joint business opportunities," comments Léopold
Demiddeleer, Head of Future Businesses & Corporate Platforms, a section of
Solvay's newly created Innovation Center.
"Plextronics enjoys strong industry recognition and achieved significant
milestones in the last two years as the preferred ink provider for solution
processed OLED and OPV manufacturers. We are extremely pleased to have the
continued support from Solvay and to work side-by-side with them in the
advancement of printed electronics", says Andy Hannah, President and Chief
Executive Officer of Plextronics. "The advancement of our OLED technology is of
particular importance as we work to meet projected customer demands for OLED
flat panel display technology and OLED lighting applications," he adds.
Plextronics, Inc. an international technology company that specializes in
printed lighting, display, solar and other organic electronics. Headquartered
in Pittsburgh, PA, the company's focus is on organic light emitting diodes
(OLED) and organic solar technology, specifically the conductive inks and
process technologies that enable those and other similar applications. The
privately held company was founded in 2002 as a spinout from Carnegie Mellon
University, based upon conductive polymer technology developed by Dr. Richard
McCullough. Since then, Plextronics scientists have refined and further
developed this technology to deliver exceptional performance for printed
electronics. The company is ISO 9001:2008 and ISO 14001:2004 certified. For
more information about Plextronics, visit www.plextronics.com.
SOLVAY is an international industrial Group active in Chemistry. It offers a
broad range of products and solutions that contribute to improving quality of
life. The Group is headquartered in Brussels and employs about 16,800 people in
40 countries. In 2010, its consolidated sales amounted to EUR 7.1 billion.
Solvay is listed on the NYSE Euronext stock exchange in Brussels, Belgium (NYSE
Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR). Details are
available at www.solvay.com.
For further information please contact:
ERIK DE LEYE PATRICK VERELST LORI LECKER
Corporate Press Officer Head of Investor Relations Director of Global Marketing
SOLVAY S.A. SOLVAY S.A. Plextronics
Tel. +32 2 509 7230 Tel. +32 2 509 7243 Tel. 412-423-2030, ext. 111
erik.deleye(at)solvay.com patrick.verelst(at)solvay.com llecker(at)plextronics.com
Press Release:
http://hugin.info/133981/R/1533290/467057.pdf
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Source: Solvay S.A. via Thomson Reuters ONE
[HUG#1533290]
Unternehmensinformation / Kurzprofil:
Datum: 26.07.2011 - 07:32 Uhr
Sprache: Deutsch
News-ID 56697
Anzahl Zeichen: 5303
contact information:
Town:
Brussels
Kategorie:
Business News
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