"We evaluated multiple locations and potential partners across the globe for our second factory. We determined Russia with Rusnano as an investment partner was the best fit for our business,” said Plastic Logic CEO Richard Archuleta, in a statement. "Rusnano has demonstrated it is fully invested in our goal to commercialize plastic electronics. We are gratified by the Rusnano investment package and the continued commitment of Oak Investment Partners in bringing this disruptive technology to market."
Georgy Kolpachev, managing director of Rusnano, said: "This is an unprecedented investment of close to a billion dollars in the future of plastic electronics to help create one of the largest commercial centers for it in Russia. This investment signifies the potential that we see in the future of plastic electronics across a variety of commercial and consumer products: flexible plastic electronic displays will provide another major milestone in how people process information. Entering this new disruptive segment at the stage of its inception gives Russia a chance to win a leading position in global market of future electronics."
The Zelenograd factory, scheduled for production starting in 2013/2014, will have the capacity to produce hundreds of thousands of units of next-generation plastic electronics displays per month. There are plans to employ 300 people at the facility.
Zelenograd was a natural choice for the home of the company's second and largest commercial plastic electronics display factory, according to Konrad Herre, Plastic Logic vice president for manufacturing, who led the site selection process. "Zelenograd has invested in the development of a Special Economic Zone with an excellent infrastructure for high tech industry, and is home to the Moscow Institute of Electronic Technology (MIET), which gives us access to a highly educated and trained workforce,” he said.
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