Funding Received for Further Development of Organic Solar Cells
Plextronics, a world leader in developing active layer technology for printed electronic devices, announced it has received $750,000 in funding from the Sustainable Energy Fund (SEF) of Central Eastern Pennsylvania to further development of Plexcore PV technology for organic solar cells.
Plexcore PV technology is paving the way for the commercialization of organic solar cells as a leading source of renewable energy. Organic solar cells use extremely thin layers of plastic semiconductors, instead of silicon, to absorb light and create electricity. They can be lightweight, flexible, and can operate well even in low-light conditions. The semiconductors can be printed like inks resulting in a much lower cost of production.
"The Sustainable Energy Fund is pleased to partner with Plextronics in the research and development of photovoltaic and organic lighting projects. These projects are a natural fit with the SEF's mission of developing and investing in economically viable, energy related projects that promote environmentally sound and sustainable energy use," stated Dennis Maloskey, Chairman of the Program Related Investment Committee.
of Central Eastern Pennsylvania is leading the way in efforts to create a diversified energy base by investing in new technologies that will have a dramatic impact on the industry, improve the environment, and create jobs. We are thrilled to have their support. This investment will allow Plextronics to expand our development of Plexcore PV and help us reach our collective goals for solar energy," commented Andrew Hannah, President and CEO, Plextronics
In March 2006, the West Penn Power Sustainable Energy Fund (WPPSEF) also invested in Plextronics to support the development of Plexcore HIL for solid-state lighting. Pennsylvania has one of the nation's most progressive alternative energy portfolio standards. It states that by 2020, 18 percent of all retail energy must come from clean, efficient and advanced resources.
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