Cambridge, UK-based Plastic Logic has received $24 million in new funding thanks in part to contributions from new investors BASF Venture Capital, Intel Capital, Morningside Technology Ventures and Quest for Growth, as well as its existing investors Amadeus Capital Partners, Bank of America, Dow Chemical, Nanotech Partners, PolyTechnos Venture-Partners, Siemens and Yasuda.
Plastic Logic’s has developed a new technique for manufacturing (or printing) electronics on thin, flexible plastic substrates.
“These funds will accelerate Plastic Logic’s move to commercial testing of prototype products and to finalise our manufacturing process for transfer to mass production,” said Stuart Evans, the company’s CEO.
The company has made significant progress in refining its manufacturing process, including the development of a 350mm by 350mm prototype line based on readily available manufacturing equipment. This will be used for technology transfer and, in conjunction with device-makers, to demonstrate advanced product prototypes.
Plastic Logic is already delivering A5-sized 100ppi SVGA (800×600) flexible active-matrix e-paper displays to customers.
Analysts from IDTechEx forecast that plastic electronics will be a $30 billion industry by 2015, and could reach as much as $250 billion by 2025.