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Tag - Plastic Logic
More than a year after it dropped the Que, Plastic Logic on Monday showed the results of its Russian cash flow by planning a new e-reader destined for schools. The Plastic Logic 100 has one of the largest e-paper screens yet with a 10.7-inch display that can show textbooks at high quality. Its creator's uniqueness comes into play through the use of a plastic base; by using the more flexible material instead of glass, the screen is resistant to shattering.
Plastic Logic has reportedly secured an additional $150 million in equity financing, in a new investment agreement with the Russian Corporation of Nanotechnologies (Rusnano). Combined with $50 million in equity investment from Oak Investment Partners, the funding will help Plastic Logic establish its second factory in Zelenograd, Russia.
The rumored talks between Plastic Logic and Russia's RUSNANO have proven true, as the two companies have announced a partnership. Under the agreement, the two will produce a factory to build Plastic Logic's next-generation plastic electronic displays, as the promised QUE ProReader e-book reader was stillborn. RUSNANO will make a significant investment in the company as part of a large-scale investment, though specific numbers were omitted.
LG in a recently discovered SEC filing confirmed that it plans to mass produce its flexible e-paper and more before the end of 2010. The company plans to make both its 19-inch grayscale but bendable screens as well as firm, 9.7-inch color displays in a similar timeframe. What devices would get the screens wasn't mentioned.
Plastic Logic today decided to drop its originally planned QUE ProReader altogether. The e-paper firm said it would instead focus on a new generation version of the QUE. The market has "dramatically changed" since the QUE was made public in January and needs a reader that reflects it, chief executive Richard Archuleta explained.
Low-cost computer chip and e-reader device screen maker Plastic Logic is in late-stage negotiations on selling a majority stake of its company to Rusnano, the Financial Times reports. The Russian state-owned nanotechnology would allegedly get control over the UK-based chipmaker. Under the conditions mentioned by the deal, next-generation Plastic Logic chips would have to be produced in Russia.
Despite a delay of its first and only product, the QUE proReader, Plastic Logic has said it plans on beginning mass production of its successor. It would sport a color e-ink display, with manufacturing slated for late in 2011 and a commercial release sometime in 2012. The color panel will be based on Plastic Logic's own technology, developed in its Cambridge laboratory.
Plastic Logic appears to have narrowed the shipping time-frame for its upcoming QUE proReader e-book reader, which is now expected to ship late in June. A customer who pre-ordered the device early in the year reportedly received an e-mail notification with an updated schedule, according to Engadget. Customers are still presented with an option to opt out of their purchase, as the company initially claimed the devices would be on-track for April
Plastic Logic, maker of low-cost computer chips and the Que e-book reader, may be up for sale. Hermann Hauser of Amadeus Capital Partners, which has a stake in Plastic Logic, didn't name any interested companies who are in negotiations regarding the sale of Plastic Logic, but did say he hopes more significant announcements will be made in the fall. The Que proReader, its only product, hasn't yet been released, as it's due out this summer.
Plastic Logic chief Richard Archuleta sent notice late Thursday to customers that the QUE proReader has been delayed from mid-April to an unspecified point in the summer. The executive didn't specify the exact reasons behind the delay but claimed it was to "fine-tune the features and enhance the overall product experience." More details are expected to follow within the next month.