Plastic Logic raise $700m for new plant in Russia

In the we're not dead yet category...

PlasticLogic announced today that they're currently raising $700m in financing to build their second screen production plant in Zelenograd, Russia. Scheduled to open in 2 to 3 years, the new factory will employ over 300 people. Plastic Logic CEO Richard Archuleta said the company plan to make their displays in both the new Zelenograd factory and in Dresden, Germany, and produce second generation flexible plastic based screens for other device makers.

You  might recall PlasticLogic as being the hot story from CES 2010 that disappeared by August. They were in an unfortunate position where perfecting their screen tech took just a little too long. Their ereader, the Que, was the first device to be killed by the iPad.

Actually, I'm a little amazed that they could get the funding. Given the economy, I wouldn't have thought it possible. Also, I recall that that Nemoptic, another screen tech company, folded because they couldn't borrow even a few million euros. And then there's Liquavista (but that story hasn't leaked yet).

via Reuters

About Nate Hoffelder (11579 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader:"I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

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