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Electronics Production | January 18, 2011

Rusano invests $700 million in Plastic Logic

Russian Corporation of Nanotechnologies, Rusano, finalizes investment in Plastic Logic: $700 million total investment project will include building world’s largest commercial plastic electronics factory in Zelenograd

Plastic Logic has received an initial investment package of $300 million: Under the final agreement, Rusano is providing an initial investment of $150 million into the equity of Plastic Logic. Plastic Logic’s lead investor, Oak Investment Partners, a multi-stage venture capital firm, is investing an additional $50 million as part of the project investment plan. In addition to the equity investments, RUSNANO will provide partial guarantees for debt financing in the amount of $100 million. Over the next few years, additional equity and debt will be raised totaling approximately $400 million. “We evaluated multiple locations and potential partners across the globe for our second factory. We determined Russia with Rusano as an investment partner was the best fit for our business,” said Plastic Logic CEO Richard Archuleta. “Rusano has demonstrated it is fully invested in our goal to commercialize plastic electronics. We are gratified by the Rusano investment package and the continued commitment of Oak Investment Partners in bringing this disruptive technology to market.” At the same time, Plastic Logic plans the continued investment in its first high-volume, state-of-the-art manufacturing facility in Dresden, Germany, which opened in 2008, as well as its technology R&D center in Cambridge, England.
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