Issue Date: January 24, 2011
Plastic Logic Gets Russian Investment
Plastic Logic, a Mountain View, Calif.-based printed-electronics start-up, has inked a deal with Russian Corporation of Nanotechnologies (Rusnano) for loans and equity worth $700 million. Rusnano will make a $150 million equity investment in Plastic Logic. Oak Investment Partners, Plastic Logic’s major investor, will put an additional $50 million into the company. Rusnano will also provide partial guarantees for $100 million in loans, and it will make $400 million in equity investments and loan guarantees “over the next few years.” As part of the deal, Plastic Logic plans to build a plant by 2014 in Zelenograd, Russia, near Moscow, that will employ 300 workers and make hundreds of thousands of “next-generation” displays per month. Plastic Logic pulled its first-generation product, the Que e-reader, from the market in August before it shipped any units.
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