Plastic? Fantastic!

In one of the largest venture capital investments in European history, Cambridge University spin out Plastic Logic has announced plans to build the first plastic electronics ‘fab’, allowing flexible active matrix display modules to be manufactured on a commercial scale. In order to fund the move, Plastic Logic has raised $100million from a group of investors led by Oak Investment Partners and Tudor Investment. Existing investors -- Amadeus, Intel Capital, Bank of America, BASF Venture Capital, Quest for Growth and Merifin Capital – have also participated The facility, which will be built in Dresden, will produce display modules for portable electronic reader devices. According to Plastic Logic, demand for such devices is predicted to exceed 41million units in 2010. The plant will produce more than 1m display modules per year when production starts in 2008. John Mills, coo of Plastic Logic, noted: “Our displays will enable electronic reader products that are as comfortable and natural to read as paper whether you’re on a beach, in a train or relaxing on the sofa at home. Wireless connectivity will allow you to purchase and download a book or pick up the latest edition of your newspaper wherever you are and whenever you need it. The battery will last for thousands of pages, so you can leave your charger at home.” Amadeus director Hermann Hauser added: “Having backed Plastic Logic from day one, I am delighted that the first full commercialisation of plastic electronics is now firmly in our sights. With this investment, we are not only scaling up a great company, we are also creating a new electronics industry that will become a significant addition to silicon.”