Plextronics Signs MOU to Supply Its Solar Cell Technology to Korean Manufacturing Company

Plextronics, Inc. announced today that it has signed a non-binding memorandum of understanding (MOU) with Korea Parts & Fasteners (KPF) to create a research and development center for organic photovoltaic process development in Korea. The agreement specifies that Plextronics will focus on advancements in its active layer inks for solar cells and to provide certain baseline device and process technology to the new R&D facility, which will be built outside of Seoul.

Upon reaching a definitive agreement with Plextronics, KPF's role would be to develop advanced process technology using Plextronics' inks and device and process technology.

"Our strategy is to participate in R&D centers with manufacturing customers all over the world who we believe could be major manufacturers of OPV products," said Andy Hannah, CEO of Plextronics. "This venture with KPF is our first step in this strategy."

Jim Dietz, Vice President of Business Development at Plextronics, said, "We fully expect that the advancement of Plextronics' ink performance and design will help accelerate world-wide commercialization of OPV systems. That's very exciting for us and for our industry."

4th June 2008