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

Cat B100

Cat is primarily known for its heavy-duty machinery used in the construction industry and farming, among other areas. What may not be ...

Linksys EA6900 AC Router

As 802.11ac networking begins to makes its way into more and more devices, you may find yourself considering an upgrade for your home ...

D-Link DIR-510L 802.11AC travel router

Having Internet access in hotels and other similar locations used to be a miasma of connectivity issues. If Wi-Fi was available, it wa ...

Sponsor

toggle

Most Commented

 
toggle

Popular News