RUSNANO and Plastic Logic Announce Agreement to Establish New Plastic Electronics Production in Russia
Moscow and Mountain View, California – November 9, 2010 – Russian Corporation of Nanotechnologies and Plastic Logic Inc. today announced they have entered into an agreement to create Plastic Logic’s second production facility for its next-generation plastic electronic displays and establish a plastic electronics industry in Russia. Under the terms of agreement RUSNANO intends to make a significant investment in the company, which is the global leader in the emerging field of plastic electronics, as part of a large-scale investment project.
Plastic Logic said it will continue to house its core R&D facility in Cambridge, England, as well as maintain its commercial factory in Dresden, Germany and corporate headquarters in Mountain View, California.
Plastic Logic has developed broad and deep intellectual property in plastic electronics. Plastic electronics technology has many economic, manufacturing, form factor and environmental benefits, and will ultimately replace traditional silicon semiconductor glass-based display products in a variety of devices in the future. Plastic Logic’s first application of the technology makes possible an amazingly thin, lightweight, robust and flexible active matrix display that is unmatched in the marketplace. The display is at the core of Plastic Logic’s first commercial consumer electronics product, a next-generation electronic reader for business that is currently under development.
“The production facility for the next generation of plastic displays will become the first step to establish the new branch of electronics industry in Russia. By the time of the launch, the Russian facility will be the world’s most advanced fabrication plant in the plastic electronics industry,” said RUSNANO Managing Director Georgy Kolpachev.
Founded in 2000 by researchers from the Cambridge University Cavendish Laboratory in the UK, Plastic Logic opened its first high-volume, state-of-the-art manufacturing facility in Dresden, Germany in 2008, where it will continue with production of the company’s first commercial product.
“RUSNANO’s investment will enable us to dramatically expand operations in support of volume production of our next-generation products, and to continue to advance our technology platform to deliver on our broader long-term vision,” said Plastic Logic CEO Richard Archuleta.
“As a global company, we evaluated multiple countries for our expansion efforts and ultimately Russia offered the best strategic partnership opportunity,” added Plastic Logic’s CFO Rik Thorbecke. “Russia provides access to an enormous talent pool of scientists and engineers, and proximity to our European centers in Cambridge and Dresden. We have been very impressed with the caliber of the RUSNANO organization and, most importantly, its commitment to undertake the significant investment required to build a world-class volume production center capable of producing hundreds of thousands of units a month.”
About Plastic Logic
Plastic Logic's mission is to lead a revolution in the way people acquire, organize and consume information. We are using our proprietary technology leadership in plastic electronics to create a range of innovative products. Founded in 2000 by researchers out of the Cambridge University Cavendish Laboratory, Plastic Logic has research and development in Cambridge, England; high-volume, state-of-the-art manufacturing in Dresden, Germany; and executive management, product engineering, sales and marketing headquartered in Mountain View, California. For more information about Plastic Logic, please go to PlasticLogic.com.