Plastic Logic announced today that it will build the first factory to manufacture plastic electronics on a commercial scale. The facility will produce flexible active-matrix E Ink display modules for ‘take anywhere, read anywhere’ electronic reader products. It will utilize Plastic Logic’s unique process to fabricate active-matrix displays that are thin, light and robust; enabling a reading experience closer to paper than any other technology.
To fund this comprehensive commercialization program, Plastic Logic has completed a first closing of $100 million of equity finance led by Oak Investment Partners and Tudor Investment Corporation. Existing investors Amadeus, which led the seed financing of Plastic Logic, Intel Capital, Bank of America, BASF Venture Capital, Quest for Growth and Merifin Capital also participated. The financing is one of the largest in the history of European venture capital.