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Plextronics to Expand Development of Printed Electronics Technology

SpecialChem / Dec 3, 2007

Plextronics, Inc., a leading innovator of printed electronics technology, announced that it has received a strategic investment by Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc. (Nasdaq: AMAT). The investment will help Plextronics continue to expand its product development and manufacturing capabilities, as well as increase its investment in sales and marketing activities. This investment comes on the heels of Plextronics' recently closed $20.6 million Series B financing, led by Solvay North America Investments LLC, a member of Solvay Group, with participation by Birchmere Ventures, Draper Triangle Ventures, Firelake Capital Management and Newlin Investment Company. An additional investment in the Series B round was provided by the Sustainable Energy Fund (SEF) of Central Eastern Pennsylvania. This was the second investment in the company that SEF has made this year. Plextronics' President and CEO Andy Hannah said, "We are focused on developing relationships with companies such as Applied Materials, an established leader that can help us achieve our goals.

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