Plextronics Wins More Financing

Plextronics, a Pittsburgh-based developer of organic semiconductor technologies for printed electronics, has raised another $14 million in venture capital. Belgium's Solvay led the financing round and becomes Plextronics' biggest investor, with its new $12 million investment. Plextronics says the new funding will allow it to develop products for lighting and solar cells. Solvay has been a Plextronics backer and collaborator since 2007. "The global collaboration that our companies envisaged a couple of years ago is going even better than we could have imagined," says Andrew W. Hannah, Plextronics' CEO. "To have a corporate investor like Solvay that understands our markets, technology, and the opportunities that await us is extremely important." Solvay has collaborated with Oslo, Norway-based Thin Film Electronics and the Center for Organic Photonics & Electronics at Georgia Institute of Technology.