AllThingsD » Dresden

Plastic Logic Nabs New Funding, Plans Plant in Russia

Ina Fried — Tue, 18 Jan 2011 01:00:50 +0000

E-reader start-up Plastic Logic said it has finalized an investment deal with the Russian Corporation of Nanotechnologies. The Russian agency, known as RUSNANO, will provide $150 million in equity financing for Plastic Logic, which plans to build a $700 million factory in Zelenograd, Russia.

RUSNANO will also provide $100 million in debt guarantees, while Plastic Logic’s existing investor Oak Investment Partners will add another $50 million in equity investment.

“We evaluated multiple locations and potential partners across the globe for our second factory, Plastic Logic CEO Richard Archuleta said in a statement. “We determined Russia with RUSNANO as an investment partner was the best fit for our business. RUSNANO has demonstrated it is fully invested in our goal to commercialize plastic electronics. We are gratified by the RUSNANO investment package and the continued commitment of Oak Investment Partners in bringing this disruptive technology to market.”

Plastic Logic has been showing off its plastic display technology for years (including a demo at D7), but scrapped its first product–the Que e-reader (see image), after several delays. The company said it still hopes to bring to market a business-oriented e-reader and is working to develop such a product. The company said that the Zelongrad factory, which should be ready for production by 2013 or 2014, will employ more than 300 people and have the capacity to crank out hundreds of thousands of displays per month.

“This investment signifies the potential that we see in the future of Plastic Electronics across a variety of commercial and consumer products,” RUSNANO Managing Director Georgy Kolpachev said in a statement. “Flexible plastic electronic displays will provide
another major milestone in how people process information. Entering this new disruptive segment at the stage of its inception gives Russia a chance to win a leading position in global market of future electronics.”

Despite its new Russian plans, Plastic Logic said it plans to continue investing in the Dresden, Germany, plant it opened in 2008, as well as its research and development center in Cambridge, England.

Still unclear is just how it will compete with the likes of the Kindle, iPad, Nook and the many, many other tablets and e-readers that will hit the market before anything ships from Dresden, Zelenograd or any other Plastic Logic facility.

Plastic Logic Gets Some Love From Russia

Voices — Tue, 09 Nov 2010 15:50:54 +0000

Plastic Logic, still working on a consumer e-reader after an abortive first attempt, today announced that a “significant investment” by RUSNANO (Russian Corporation of Nanotechnologies) will help it build a new volume fabrication plant in Russia for its next-generation plastic electronic displays. “Russia provides access to an enormous talent pool of scientists and engineers, and proximity to our European centers in Cambridge and Dresden,” said Plastic Logic CFO Rik Thorbecke.

Absolutely Fabless

John Paczkowski — Tue, 07 Oct 2008 14:11:30 +0000

If it’s true that “real men have fabs,” as Advanced Micro Devices Inc. Chairman W. J. “Jerry” Sanders III (at right in Indiana Jones drag) once said, then AMD is the semiconductor industry’s latest eunuch. This morning the chipmaker said it will spin off its manufacturing operations, splitting itself into two companies–one to design chips and one to make them. The new manufacturing company, called Foundry Co., will be a joint venture between AMD and two Abu Dhabi investment firms–Mubadala Development Co. and Advanced Technology Investment Co.–that have agreed to provide it with some $6 billion in financing to build a new chip fabrication plant, or fab, in upstate New York and upgrade one of two AMD fabs near Dresden, Germany.

A bold move for AMD (AMD), which has sustained seven straight quarters of losses, and one that could dramatically alter its fortunes. Indeed, right off the bat, AMD will push $1.2 billion in debt off its books and onto those of the The Foundry Co. “This is the biggest announcement in our history” said CEO chief executive, Dirk Meyer. “This will make us a financially stronger company, both in the near term and in the long term, as a result of being out from the capital expense burden we have had to bear.”