Plastic Logic Raising $700 Million To Build A New Plastic Display Factory
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Plastic Logic is raising $700 million to build a new factory for building next-generation plastic displays. The funding is coming from government-owned Russian Corporation of Nanotechnologies (Rusnano). Initally the company will receive $150 million and Oak Investment Partners will put in another $50 million.
Rusnano will also offer $100 million in debt financing with “partial guarantees.” Plastic Logic will receive another $400 million in additional debt and equity over the next few years. Plastic Logic has already raised $200 million in funding. Plastic Logic is known for building the Que tablet. The Que tablet was never created as it constantly faced delays. Now the company is building the “next-generation electronic reader for business,” according to paidContent. The new factory will also start building hundreds of thousands of display units around 2013-2014.