LONDON – Thin Film Electronics ASA, a long-time developer of plastic electronic memory, has raised 2.8 million Norwegian Krone (about $500,000) from Palo Alto Research Center (PARC).
PARC, a wholly-owned subsidiary of Xerox Corp., will be issued with 1,663,680 million new shares through a private placement, as part of the collaboration between the two companies.
This capital increase is within the 20 percet authorization to issue new shares provided to the board of directors of Thin Film (Oslo, Norway) by the AGM.
Thin Film has been commercializing printed, rewritable memory using ferroelectric polymer material for application in specific markets — including toys and games — for a number of years and is developing contact-based memory arrays for higher-capacity applications.
That was a great development for the plastic company. With the funds generated, they can do more in research and development. Looking forward to see new innovations in plastic manufacturing from Thin Films with the new investment they got.
Shawn - http://www.hammerplastics.com
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