Plextronics announced a $14 million Series B-1 financing round, led by Solvay North American Investments. Plextronics' President and CEO Andy Hannah said that the financing will allow the company to continue to grow its research, development and pilot manufacturing programs, all of which are aimed at the commercialization of its technology - used for OLED displays and lighting and also organic solar cells.
Hannah also indicated that the affiliation with Solvay has gone very well since the two companies began working together in 2007.
Plextronics has over 60 employees today. In January 2009 they have installed a 6M$ pilot-production line for OLED displays, Organic Solar and other panels. The new line will be operated by 10 employees and can turn out 6-inch square solar panels or OLED displays. They are also trying bendable OLED TVs and other interesting new displays. Way back in 2006 we interviewed Hannah.