Printed from http://www.electronista.com

Plastic Logic secures $150m funding for Russian facilities

updated 11:10 pm EST, Mon January 17, 2011

Company still working on new e-book reader

Plastic Logic has reportedly secured an additional $150 million in equity financing, in a new investment agreement with the Russian Corporation of Nanotechnologies (Rusnano). Combined with $50 million in equity investment from Oak Investment Partners, the funding will help Plastic Logic establish its second factory in Zelenograd, Russia.

The new facility is estimated to cost approximately $700 million when construction has completed. The factory is expected to be ready for production by 2013 or 2014, employing more than 300 workers focusing primarily on flexible plastic displays. The company also suggests it will continue to invest in its Dresden, Germany manufacturing facility and Cambridge-based R&D headquarters.

Although Plastic Logic struggled to launch its QUE ProReader, the company still plans to release another e-book reader geared for the business market. [via Wall Street Journal]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

Sponsor

toggle

Most Commented

 
toggle

Popular News