Plextronics, Inc., a U.S.-based technology company focused on OLED and organic solar technology, announced last week that it has completed a $14 million Series B-1 financing round to commercialize its technology in the LED lighting and solar markets.

"The funding from this round will enable us to continue to advance our lighting and solar products – namely our Organic Light Emitting Diode (OLED) and Organic Photovoltaic (OPV) materials and inks – so that we can scale these products to meet the customer and industry demand we are seeing," said president and CEO Andy Hannah. 

The company is developing a process to deposit a thin layer of carbon-based conductive material to form the electrical layer in electronic products. Plextronics is working on the materials as well as the manufacturing process, which is often described as akin to "printing" electronics.

Print electronic technology promises to deliver low-cost products. Organic solar cells or LED lighting would use organic compounds for form the electrical layer rather than conventional materials such as silicon.