Russian firm announces major investment in Plastic Logic
Plastic Logic has finalised a deal with Russian firm Rusnano which has resulted in an initial investment of $150million. With existing investors Oak Investment Partners investing a further $50m, and Rusnano providing partial guarantees for debt financing up to $100m, over the next few years more equity and debt will be raised totalling around $400m.
George Kolpachev, managing director of Rusnano, described Plastic Logic, a spin out from Cambridge University's Cavendish Laboratory, as one of the 'most promising new technology companies'. He added that the investment would help create one of the largest commercial centres for plastic electronics in Russia.
"Entering this new disruptive segment at the stage of its inception gives Russia a chance to win a leading position in the global market of future electronics," Kolpachev explained.
