David Willetts, Minister for Universities and Science Announces an 8.4 Million Investment in Plastic Electronics

The investment will fund research and development into Plastic Electronics technology which will lead to the creation of new and next generation products, such as flexible displays, and low-carbon technologies, including ultra-efficient lighting, and low-cost long-life solar cells.

The Plastic electronics market value is forecast to rise from $2 billion (£1.337 billion) today to $120 billion (£80.19 billion) in 2020 (forecast by FlexTech in "Plastic Electronics Strategy for Success: Realising the UK Potential" issued by BIS in December 2009). The global market is measured in dollars, and the GBP equivalents are correct at time of publication.

Eight companies have been awarded a total of £7.4 million to help build the supply chain and overcome some of the barriers businesses face in taking new and innovative products to market.  Just under £1m of this total comes from the Engineering and Physical Sciences Research Council (EPSRC).

Another five companies share around £1 million that will fund the roll out of projects to help encourage UK businesses to adopt the new technology in their product development.  David Willetts said:

“It is early days for this emerging field, but Plastic Electronics will give rise to a range of new exciting products, such as ultra-efficient lighting and cheaper, longer-lasting solar cells. Looking ahead, this technology offers enormous potential to help our local environment, improve our everyday standard of living and support the nation’s economy.

“The global market for Plastic Electronics is now worth almost $2 billion (£1.337 billion) and is forecasted to grow to as much as $120 billion (£80.19 billion) by 2020. The funding I’ve announced today is important in supporting UK businesses to be world leaders in one of the key industries of the future. Commercially exploiting the outputs of the UK’s world-leading science and research base has a vital role to play in helping our economy to grow.”

Iain Gray, Chief Executive of the Technology Strategy Board, said:

“The UK is among the world’s leading players in Plastic Electronics, and the opportunities to be a major part of a whole new manufacturing sector are very real.  The benefits are potentially huge – for the UK economy, our society and the environment.  And the sector is predicted to grow at an astonishing rate over the next two decades.

” Very sophisticated plastic electronics technology already exists but we believe that there are huge opportunities out there for much broader incorporation of the technology into products.  The challenge is to entice companies, especially those from the design sector, to work with the technology.”

The Minister made the announcement at “Tomorrow’s Giants” – a conference hosted by the Royal Society and Nature at Southbank Centre in London.   This event is part of See Further: The Festival of Science + Arts at the centre to celebrate 350 years of the Royal Society.