Jan 19, 2011

Back in November 2010 we reported that Plastic Logic received a 'major' investment from Russia's RUSNANO. Today we learned that this is major indeed - the total investment will be $700 million (!) - which will be used to build a mass-production factory for thin, light and flexible plastic-based e-paper displays. Those displays will be used in Plastic Logic’s first commercial consumer electronics product, a next-generation electronic reader for business that is currently under development. This isn't the Que e-reader which was canceled in 2010.

The new factory will be built in Zelenograd, Russia, and is scheduled to begin production in 2013/2014 - and will be able to produce hundreds of thousands displays monthly. This will be Plastic Logic's second factory (the first one was opened in 2008 in Dresden, Germany). Russia hopes that this move will establish a commercial plastic electronics industry.

Plastic Logic already received $300 million ($150 million from RUSNANO, $50 from Oak Investment Partners and $100 in debt financing from RUSNANO). The rest of the money ($400 million) will be given over the 'next few years'.