Plastic Logic raises $100 million for manufacturing facility in Dresden
Plastic Logic announced that it has raised $100 million to build a factory for flexible active matrix display modules in Dresden (Germany).
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. […]
The facility will produce display modules for portable electronic reader devices – a product category that is predicted to grow to 41.6 million units in 2010. It will have an initial capacity of more than a million display modules per year and production will start in 2008. Dresden in the ‘Silicon Saxony’ region of eastern Germany has been chosen as the facility location following an extensive worldwide site selection process.
