RUSNANO investment to fund Plastic Logic display factory

The investment will help the company build a high-volume production factory for its plastic displays in Zelenograd, Russia.

RUSNANO is providing an initial equity investment of $150m (£94m) into Plastic Logic, while Plastic Logic’s lead investor, Oak Investment Partners, is investing an additional $50m. In addition to the equity investments, RUSNANO will provide partial guarantees for $100m of debt financing.

Over the next few years, Plastic Logic says that it will raise an additional $400m in both equity and debt financing.

’We evaluated multiple locations and potential partners across the globe for our second factory. We determined that Russia was the best fit for our business,’ said Plastic Logic chief executive Richard Archuleta. We are gratified by the RUSNANO investment package and the continued commitment of Oak Investment Partners in bringing this disruptive technology to market.’

The Zelenograd factory, scheduled for production starting in 2013/2014, will have the capacity to produce hundreds of thousands of units of plastic electronic displays per month. Plastic Logic said it plans to employ 300-plus at the facility.