Plextronics

About Plextronics

Plextronics, Inc. operated as a technology company focused on the materials science behind printed electronics. It was established in 2002 as a spin-out from Carnegie Mellon University. The company was co-founded by Dr. Richard McCullough, a chemist whose research was foundational to the development of conductive polymers. His work on regioregular polythiophenes was a key scientific enabler for the company's technology, which aimed to make printable electronic devices a commercial reality. Andrew Hannah also served as a co-founder and held the role of CEO.

The firm's business model centered on the development and supply of specialized conductive polymer inks and process technologies. Its primary product was a line of branded inks known as Plexcore®. These inks were formulated to serve as the active electrical layers in a variety of printed electronic devices. The business catered to manufacturers and researchers in the electronics industry, providing materials for applications such as organic light-emitting diode (OLED) displays and lighting, organic photovoltaics (solar cells), and plastic circuitry. The Plexcore® inks were engineered to be solution-processable, meaning they could be applied via printing or coating methods, which offered a pathway to lower manufacturing costs compared to traditional vacuum deposition techniques. For instance, its Plexcore® OC inks for OLEDs were designed to reduce operating voltage and enhance device lifetime, critical factors for mobile displays.

Throughout its history, Plextronics secured multiple rounds of venture funding and was involved in various development partnerships, including collaborations with Universal Display Corporation and the Holst Centre. The company also received government grants for its research. In 2009, it installed a pilot production line to advance its manufacturing capabilities for OLED and OPV materials. However, the company faced financial difficulties as the widespread adoption of its target technologies took longer than anticipated. This led to a Chapter 11 bankruptcy filing in January 2014. Subsequently, in March 2014, Plextronics was acquired by Solvay, a Belgian chemical group that was already a significant investor. The acquisition, valued at $32.6 million, was intended to bolster Solvay's position in the OLED market.