This marks Solvay’s second investment in Plextronics in three years, raising the Belgian chemical firm's stake to $12 million and making it the largest minority shareholder in the printed electronics materials development company.
This financing will support the acceleration of Plextronics' technology development and delivery of its innovative products to a growing base of global customers.
The group will also work to address specific governmental policy, investment and technology issues that have direct bearing on the energy industry.
In March 2014, Solvay SA, an international chemical group headquartered in Brussels, has completed the acquisition Plextronics Inc. to bolster its Organic Light Emitting Diodes (OLED) electronic display technology and launch a new development platform with a strong Asian foothold.
As part of its expansion into the rapidly growing OLED market, Solvay is setting up a new electronics laboratory at its research center at Ewha Woman’s University in Seoul City, South Korea.