Logic bets on 'game changing' plastic screen
A plastic display set to rival paper will be rolled out early next year thanks to a £25.5m investment in the company developing the technology.
By Katie Coyne | 020 8253 9613
Posted 22 August 2008
Plastic Logic, based in Cambridge, said its electronic reader products are as comfortable and natural to read as paper. And it plans to roll-out a consumer electronics device incorporating the display technology early in 2009.
The company added that its plastic technology surpasses existing glass displays in viewing quality and are lighter and more robust. It said its technology addressed "critical issues" in manufacturing flexible, thin, highly scalable plastic displays that are lightweight, offer high viewing quality and low power consumption.
The £25.5m ($50m) is in addition to £77m ($150m) already raised by a consortium of investors backing the Plastic Logic venture. These include venture capital investors Oak Investment Partners and Amadeus Capital Partners and others. Technology investor Hermann Hauser of Amadeus Capital said: "We have placed a big bet that plastic electronics is, indeed, a game-changing technology. Over time, the markets and possibilities for plastic electronics are endless."
Plastic Logic ceo, Richard Archuleta, added: "We are approaching very significant milestones in the creation of the plastic electronics industry with the opening of our Dresden plant and the pending launch of our first commercial consumer electronics product."
The venture capital investment will also support the opening of the firm's Dresden plant in Germany due to take place on 17 September. It will also help it establish its US headquarters in Mountain View, California, as well as expand its management team.
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