RusNano Revives Plastic Logic

Mountain View, CA-based Plastic Logic, which last year quashed a planned tablet-sized e-reading device based on its plastic semiconductor technology after repeated delays, said today that it has inked a multi-year financing deal with the state-owned Russian Corporation of Nanotechnologies, or RusNano. The Russian firm said it will put $150 million in equity-based financing into Plastic Logic immediately, and will provide another $100 million in debt guarantees. Previous Plastic Logic investor Oak Investment Partners will put in an additional $50 million, and the company will raise $400 million more in equity and debt “over the next few years,” for a total of $700 million, according to a joint Plastic Logic-RusNano announcement. As part of the agreement, Plastic Logic will build a display factory in Zelenograd, Russia. “Flexible plastic electronic displays will provide another major milestone in how people process information,” RusNano managing director Georgy Kolpachev said in a statement. “Entering this new disruptive segment at the stage of its inception gives Russia a chance to win a leading position in global market of future electronics.”

Wade Roush is a freelance science and technology journalist and the producer and host of the podcast Soonish. Follow @soonishpodcast

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